Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Circle [Member]

Business Acquisition [Line Items]

Summary of Consideration Paid for Acquisitions

The following table summarizes the consideration paid for the Circle acquisition in 2020 (unaudited, in thousands):  

Fair value of assets acquired	$	14,966
Fair value of liabilities assumed		1,466
Total purchase price	$	13,500
Components of purchase price:
Cash	$	13,500
Total purchase price	$	13,500

Summary of Allocation of Purchase Price

The Company’s allocation of the purchase price is summarized as follows (in thousands):

Assets:
Inventory, net	$	14
Intangible assets		10,483
Goodwill		4,469
Total assets	$	14,966
Liabilities:
Deferred revenue	$	1,290
Amounts due to seller		176
Total liabilities	$	1,466
Total purchase price	$	13,500

Summary of Unaudited Proforma Results of Operation

Unaudited pro forma results of operations for the years ended December 31, 2020 and 2019 are included below as if the Circle acquisition occurred on January 1, 2019. This summary of the unaudited pro forma results of operations is not necessarily indicative of what the Company’s results of operations would have been had Circle been acquired at the beginning of 2019, nor does it purport to represent results of operations for any future periods.

	Year Ended December 31,
	2020		2019
	(in thousands, except per share amounts)
Revenues	$	51,767	$	47,252
Net income		4,225		10,322
Earnings per share:
Basic	$	0.10	$	0.30
Diluted	$	0.10	$	0.28

Smart Retail [Member]

Business Acquisition [Line Items]

Summary of Consideration Paid for Acquisitions

The following table summarizes the consideration paid for the Smart Retail acquisition in 2019 (in thousands):

Fair value of assets acquired	$	9,394
Fair value of liabilities assumed		291
Total purchase price	$	9,103
Components of purchase price:
Cash	$	3,974
Common stock		5,129
Total purchase price	$	9,103

Summary of Allocation of Purchase Price

The Company’s allocation of the purchase price is summarized as follows (in thousands):

Assets:
Costs incurred on projects not complete	$	53
Intangible assets		5,229
Goodwill		4,112
Total assets	$	9,394
Liabilities:
Deferred revenue	$	291
Total liabilities	$	291
Total purchase price	$	9,103