v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash, cash equivalents, and restricted cash $ 66,000 $ 21,425
Accounts receivable, net of allowance for credit losses of $7,279 and $6,328 at June 30, 2025, and December 31, 2024, respectively 13,623 18,154
Inventory 142 195
Prepaid expenses and other current assets 5,838 4,888
Total current assets before funds held for clients 85,603 44,662
Funds held for clients 213,972 192,615
Total current assets 299,575 237,277
Property and equipment, net 23,282 19,669
Goodwill 94,724 94,724
Intangible assets, net 69,596 69,114
Operating lease assets, net 4,748 4,041
Other assets, net 13,640 11,813
Total assets 505,565 436,638
Current liabilities:    
Current portion of notes payable 3,032 7,008
Accounts payable 1,595 1,364
Accrued compensation and benefits 2,881 4,485
Operating lease liabilities, current 1,452 1,438
Other accrued liabilities 7,784 6,600
Deferred revenue 3,724 8,363
Total current liabilities before client fund obligations 20,468 29,258
Client fund obligations 214,839 194,378
Total current liabilities 235,307 223,636
Long-term liabilities:    
Deferred revenue 2,635 3,430
Deferred tax liability 3,746 2,612
Notes payable, net of current portion 64,350 5,709
Operating lease liabilities, noncurrent 4,200 3,578
Other liabilities 1,075 358
Total long-term liabilities 76,006 15,687
Total liabilities 311,313 239,323
Stockholders’ equity:    
Preferred stock, $0.01 par value; 1,500 shares authorized; none issued or outstanding 0 0
Common stock, $0.01 par value; 44,000 shares authorized; 27,365 and 26,671 shares issued, 27,365 and 26,671 shares outstanding at June 30, 2025, and December 31, 2024, respectively 274 267
Treasury stock at cost, zero(1) shares at June 30, 2025, and December 31, 2024 0 0
Additional paid-in capital 509,630 504,849
Accumulated deficit (315,747) (307,226)
Accumulated other comprehensive income (loss) 95 (575)
Total stockholders’ equity 194,252 197,315
Total liabilities and stockholders’ equity $ 505,565 $ 436,638
Treasury stock, common (in shares) [1] 0 0
[1]   (1) The aggregate Treasury stock of prior repurchases of our own common stock was retired and subsequently issued effective January 1, 2024. See the Condensed
           Consolidated Statement of Changes in Stockholders' Equity for the impact of this transaction.