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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of long-lived asset geographic data The following table sets forth long-lived asset information, which includes property and equipment and right-of-use assets and excludes goodwill and intangibles, where individual countries represent a significant portion of the total:

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

United States

 

$

4,633

 

 

$

3,043

 

 

 

 

 

 

 

 

Sweden

 

 

1,267

 

 

 

1,050

 

Finland

 

 

369

 

 

 

301

 

Long-lived assets related to foreign operations

 

 

1,636

 

 

 

1,351

 

Total long-lived assets-net

 

$

6,269

 

 

$

4,394

 
Schedule of anti-dilutive shares Refer to the below table for additional details (tabular dollars in thousands except per share amounts):

 

 

 

For the three months
ended June 30,

 

 

For the six months
ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income

 

$

9,158

 

 

$

780

 

 

$

15,838

 

 

$

1,366

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.12

 

 

$

0.01

 

 

$

0.21

 

 

$

0.02

 

Diluted

 

$

0.12

 

 

$

0.01

 

 

$

0.20

 

 

$

0.02

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

75,451

 

 

 

73,159

 

 

 

75,472

 

 

 

73,655

 

Effect of dilutive shared based awards

 

 

2,921

 

 

 

4,079

 

 

 

2,925

 

 

 

4,003

 

Diluted

 

 

78,372

 

 

 

77,238

 

 

 

78,397

 

 

 

77,658

 
Schedule of effects Adjustments in Operations and Comprehensive Income

The effects of the adjustments to the Company's previously reported unaudited 2021 quarterly consolidated statements of operations and comprehensive income (loss) on a standalone quarter basis are as follows:

 

 

Consolidated Statement of Operations and Comprehensive Income

 

 

Consolidated Statement of Operations and Comprehensive Income

 

 

Three months ended June 30, 2021 (unaudited)

 

 

Six months ended June 30, 2021 (unaudited)

 

 

As Reported

 

 

Adjustment

 

 

As Restated

 

 

As Reported

 

 

Adjustment

 

 

As Restated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

65,073

 

 

$

—

 

 

$

65,073

 

 

$

115,108

 

 

$

—

 

 

$

115,108

 

Gross Profit

 

28,249

 

 

 

—

 

 

 

28,249

 

 

 

48,828

 

 

 

—

 

 

 

48,828

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses1

 

9,120

 

 

 

3,180

 

 

 

12,300

 

 

 

16,926

 

 

 

3,180

 

 

 

20,106

 

Total operating expense

 

24,651

 

 

 

3,180

 

 

 

27,831

 

 

 

44,416

 

 

 

3,180

 

 

 

47,596

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations

 

3,598

 

 

 

(3,180

)

 

 

418

 

 

 

4,412

 

 

 

(3,180

)

 

 

1,232

 

Net income (loss) before income taxes

 

3,960

 

 

 

(3,180

)

 

 

780

 

 

 

4,546

 

 

 

(3,180

)

 

 

1,366

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

3,960

 

 

$

(3,180

)

 

$

780

 

 

$

4,546

 

 

$

(3,180

)

 

$

1,366

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Basic

$

0.05

 

 

$

(0.04

)

 

$

0.01

 

 

$

0.06

 

 

$

(0.04

)

 

$

0.02

 

   Diluted

$

0.05

 

 

$

(0.04

)

 

$

0.01

 

 

$

0.06

 

 

$

(0.04

)

 

$

0.02

 
Schedule of effects of Adjustments in Consolidated Balance Sheet

The effects of the adjustments to the Company's previously reported unaudited 2021 quarterly consolidated balance sheet is as follows:
 

 

Consolidated Balance Sheet (unaudited)

 

 

June 30, 2021

 

 

As Reported

 

 

Adjustment

 

 

As Restated

 

 

 

 

 

 

 

 

 

 

Current assets

$

205,306

 

 

$

—

 

 

$

—

 

Total assets

 

241,548

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Current liabilities

$

54,257

 

 

$

—

 

 

$

—

 

Total liabilities

 

54,709

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Additional paid-in capital

$

237,764

 

 

$

3,180

 

 

$

240,944

 

Accumulated deficit

 

(50,881

)

 

 

(3,180

)

 

 

(54,061

)

Total Stockholders' Equity

$

186,839

 

 

$

—

 

 

$

186,839