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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 54,361 $ 34,690
Trade accounts receivable, less allowance for doubtful accounts of $94 and $120, respectively 13,728 13,923
Prepaid expenses 3,884 2,645
Income taxes receivable 752 1,235
Other current assets 982 1,619
Total current assets 73,707 54,112
Net property and equipment 12,391 11,726
Intangible assets, net 1,790 1,410
Goodwill 61,614 57,255
Operating lease right-of-use assets 975 1,308
Deferred contract costs, net 3,772 4,555
Deferred income taxes 14  
Other 3,277 3,057
Total assets 157,540 133,423
Current liabilities:    
Current portion of notes payable, net of unamortized debt issuance costs 4,278 4,061
Accounts payable 1,943 1,095
Accrued wages and bonuses 7,139 6,460
Accrued expenses 5,450 3,184
Dividends payable 3,044  
Deferred revenue 17,213 15,585
Other current liabilities 1,321 1,296
Total current liabilities 40,388 31,681
Notes payable, net of current portion and unamortized debt issuance costs 22,269 26,547
Deferred income taxes 7,002 7,265
Other long-term liabilities 2,544 3,615
Total liabilities 72,203 69,108
Shareholders’ equity:    
Preferred stock, $0.01 par value, authorized 2,000,000 shares, none issued 0 0
Common stock, $0.001 par value; authorized 110,000,000 shares in 2021 and 60,000,000 shares in 2020, issued 30,898,600 in 2021 and 30,775,154 in 2020, outstanding 25,361,409 in 2021 and 25,390,968 in 2020 31 31
Additional paid-in capital 173,942 171,785
Retained earnings (accumulated deficit) (36,112) (61,375)
Accumulated other comprehensive loss, foreign currency translation adjustment (2,375) (2,399)
Treasury stock, at cost; 5,537,191 Common shares in 2021 and 5,384,186 Common shares in 2020 (50,149) (43,727)
Total shareholders’ equity 85,337 64,315
Total liabilities and shareholders’ equity $ 157,540 $ 133,423