Segment Information (Tables)
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6 Months Ended |
Jun. 30, 2023 |
Segment Information |
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Schedule of segment reporting information |
| | | | | | | | | | | | | | | Six months ended | | Three months ended | | | June 30, | | June 30, | | | 2023 | | 2022 | | 2023 | | 2022 | Net Sales: | | | | | | | | | | | | | Distribution | | $ | 154,678 | | $ | 128,775 | | $ | 76,128 | | $ | 62,992 | Solutions | | | 12,093 | | | 10,407 | | | 5,604 | | | 4,871 | | | | 166,771 | | | 139,182 | | | 81,732 | | | 67,863 | Gross Profit: | | | | | | | | | | | | | Distribution | | $ | 23,801 | | $ | 19,852 | | $ | 11,074 | | $ | 10,259 | Solutions | | | 5,100 | | | 4,614 | | | 2,619 | | | 2,227 | | | | 28,901 | | | 24,466 | | | 13,693 | | | 12,486 | Direct Costs: | | | | | | | | | | | | | Distribution | | $ | 9,976 | | $ | 7,251 | | $ | 5,010 | | $ | 3,587 | Solutions | | | 2,618 | | | 2,148 | | | 1,317 | | | 1,010 | | | | 12,594 | | | 9,399 | | | 6,327 | | | 4,597 | Segment Income Before Taxes: (1) | | | | | | | | | | | | | Distribution | | $ | 13,825 | | $ | 12,601 | | $ | 6,064 | | $ | 6,672 | Solutions | | | 2,482 | | | 2,466 | | | 1,302 | | | 1,217 | Segment Income Before Taxes | | | 16,307 | | | 15,067 | | | 7,366 | | | 7,889 | | | | | | | | | | | | | | General and administrative | | $ | 9,243 | | $ | 6,784 | | $ | 5,249 | | $ | 3,337 | Amortization and depreciation expense | | | 1,317 | | | 802 | | | 604 | | | 445 | Interest, net | | | 441 | | | (17) | | | 330 | | | (7) | Foreign currency transaction gain (loss) | | | 40 | | | (298) | | | (4) | | | (442) | Income before taxes | | $ | 6,228 | | $ | 7,166 | | $ | 1,839 | | $ | 3,658 | | | | | | | | | | | | | |
(1) | Excludes general corporate expenses including interest and foreign currency transaction gain (loss) |
| | | | | | | | | | | | | | | | As of | | As of | | | | June 30, | | December 31, | | Selected Assets by Segment: | | 2023 | | 2022 | | | | | | | | | | Distribution | | $ | 152,199 | | $ | 180,602 | | Solutions | | | 21,374 | | | 21,420 | | Segment Select Assets | | | 173,573 | | | 202,022 | | Corporate Assets | | | 60,125 | | | 29,834 | | Total Assets | | $ | 233,698 | | $ | 231,856 | |
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Summary of disaggregation of revenue according to revenue type |
| | | | | | | | | | | | | | | | | | | | | Six months ended | | Three months ended | | | June 30, 2023 | | June 30, 2023 | | | Distribution | | Solutions | | Total | | Distribution | | Solutions | | Total | Geography | | | | | | | | | | | | | | | | | | | USA | | $ | 119,387 | | $ | 6,303 | | $ | 125,690 | | $ | 62,644 | | $ | 2,637 | | $ | 65,281 | Europe and United Kingdom | | | 22,550 | | | 5,089 | | | 27,639 | | | 7,134 | | | 2,589 | | | 9,723 | Canada | | | 12,741 | | | 701 | | | 13,442 | | | 6,350 | | | 378 | | | 6,728 | Total net sales | | $ | 154,678 | | $ | 12,093 | | $ | 166,771 | | $ | 76,128 | | $ | 5,604 | | $ | 81,732 | | | | | | | | | | | | | | | | | | | | Timing of Revenue Recognition | | | | | | | | | | | | | | | | | | | Transferred at a point in time where the Company is principal (1) | | $ | 136,439 | | $ | 8,869 | | $ | 145,308 | | $ | 67,872 | | $ | 4,036 | | $ | 71,908 | Transferred at a point in time where the Company is agent (2) | | | 18,239 | | | 3,224 | | | 21,463 | | | 8,256 | | | 1,568 | | | 9,824 | Total net sales | | $ | 154,678 | | $ | 12,093 | | $ | 166,771 | | $ | 76,128 | | $ | 5,604 | | $ | 81,732 | | | | | | | | | | | | | | | | | | | | | | Six months ended | | Three months ended | | | June 30, 2022 | | June 30, 2022 | | | Distribution | | Solutions | | Total | | Distribution | | Solutions | | Total | Geography | | | | | | | | | | | | | | | | | | | USA | | $ | 104,523 | | $ | 4,803 | | $ | 109,326 | | $ | 51,407 | | $ | 2,291 | | $ | 53,698 | Europe and United Kingdom | | | 13,319 | | | 4,739 | | | 18,058 | | | 5,883 | | | 2,182 | | | 8,065 | Canada | | | 10,933 | | | 865 | | | 11,798 | | | 5,702 | | | 398 | | | 6,100 | Total net sales | | $ | 128,775 | | $ | 10,407 | | $ | 139,182 | | $ | 62,992 | | $ | 4,871 | | $ | 67,863 | | | | | | | | | | | | | | | | | | | | Timing of Revenue Recognition | | | | | | | | | | | | | | | | | | | Transferred at a point in time where the Company is principal (1) | | $ | 114,937 | | $ | 7,093 | | $ | 122,030 | | $ | 55,797 | | $ | 3,083 | | $ | 58,880 | Transferred at a point in time where the Company is agent (2) | | | 13,838 | | | 3,314 | | | 17,152 | | | 7,195 | | | 1,788 | | | 8,983 | Total net sales | | $ | 128,775 | | $ | 10,407 | | $ | 139,182 | | $ | 62,992 | | $ | 4,871 | | $ | 67,863 |
(1) | Includes net sales from third-party hardware and software products. |
(2) | Includes net sales from third-party maintenance, software support and services. |
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Schedule of net sales to identifiable assets by geographic areas |
| | | | | | | | | | June 30, | | December 31, | | Identifiable Assets by Geographic Areas | | 2023 | | 2022 | | USA | | $ | 137,315 | | $ | 137,877 | | Canada | | | 25,789 | | | 27,597 | | Europe and United Kingdom | | | 70,594 | | | 66,382 | | Total | | $ | 233,698 | | $ | 231,856 | |
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