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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 28,577 $ 28,826
Accounts and note receivable, net of allowance for doubtful accounts of $771 and $904 at December 31, 2020 and December 31, 2019, respectively 4,852 4,808
Inventory 449 656
Prepaid expenses and other current assets 3,284 8,551
Total current assets before funds held for clients 37,162 42,841
Funds held for clients 321,069 126,625
Total current assets 358,231 169,466
Property and equipment, net 8,281 7,867
Goodwill 73,958 68,697
Intangible assets, net 64,552 63,850
Operating lease assets, net 6,450 6,963
Other assets 3,951 3,224
Total assets 515,423 320,067
Current liabilities:    
Current portion of notes payable 12,310 2,571
Accounts payable 1,288 1,736
Accrued compensation and benefits 2,916 3,424
Operating lease liabilities, current 1,833 1,575
Other accrued liabilities 1,380 6,556
Contingent purchase obligation 3,880 0
Deferred revenue 5,838 5,500
Total current liabilities before client fund obligations 29,445 21,362
Client fund obligations 320,578 130,250
Total current liabilities 350,023 151,612
Long-term liabilities:    
Deferred revenue 111 322
Deferred tax liability 888 336
Notes payable, net of current portion and debt issuance cost 12,225 24,142
Operating lease liabilities, noncurrent 5,366 5,937
Other liabilities 1,157 139
Total long-term liabilities 19,747 30,876
Total liabilities 369,770 182,488
Commitments and Contingencies (Notes 2 and 15)
Stockholders’ equity:    
Preferred stock, $.01 par value; 1,500 shares authorized; none issued or outstanding 0 0
Common stock, $.01 par value; 44,000 and 22,000 shares authorized; 19,354 and 16,098 shares issued, 18,970 and 15,714 shares outstanding at December 31, 2020 and December 31, 2019, respectively 193 161
Treasury stock at cost, 384 shares at December 31, 2020 and December 31, 2019 (5,017) (5,017)
Additional paid-in capital 419,827 396,102
Accumulated deficit (269,954) (253,642)
Accumulated other comprehensive loss 604 (25)
Total stockholders’ equity 145,653 137,579
Total liabilities and stockholders’ equity $ 515,423 $ 320,067