v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 27,933,000 $ 27,742,000
Accounts receivable, net of allowance for credit losses of $275 in 2025 and $311 in 2024 22,107,000 23,845,000
Unbilled receivables 8,398,000 7,598,000
Prepaid and other current assets 7,221,000 7,020,000
Total current assets 65,659,000 66,205,000
Equipment, enterprise software, and leasehold improvements, at cost:    
Equipment 3,839,000 3,671,000
Enterprise software 4,185,000 4,185,000
Leasehold improvements 742,000 742,000
Total equipment, enterprise software, and leasehold improvements 8,766,000 8,598,000
Less – accumulated depreciation and amortization (6,973,000) (6,600,000)
Net equipment, enterprise software, and leasehold improvements 1,793,000 1,998,000
Operating lease right-of-use assets, net 3,192,000 3,832,000
Deferred income taxes 1,674,000 1,298,000
Deferred financing costs, net 142,000 189,000
Deferred compensation, net 1,250,000 0
Non-current deposits 463,000 444,000
Goodwill, net of impairment 27,210,000 27,210,000
Intangible assets, net of amortization 9,009,000 10,308,000
Total assets 110,392,000 111,484,000
Current liabilities:    
Accounts payable 3,564,000 4,683,000
Accrued payroll and related costs 13,693,000 13,750,000
Current portion of operating lease liability 1,313,000 1,265,000
Other accrued liabilities 861,000 550,000
Deferred revenue 287,000 329,000
Total current liabilities 19,718,000 20,577,000
Long-term liabilities:    
Long-term operating lease liability, less current portion 1,825,000 2,486,000
Long-term severance liability 1,039,000 987,000
Total liabilities 22,582,000 24,050,000
Commitments and contingent liabilities (Note 5)
Shareholders' equity:    
Preferred Stock, no par value; 20,000,000 shares authorized; none outstanding
Common Stock, par value $.01; 100,000,000 shares authorized and 13,510,932 shares issued as of June 30, 2025 and 13,444,712 shares issued as of December 31, 2024 135,000 135,000
Additional paid-in-capital 40,064,000 38,277,000
Retained earnings 54,513,000 55,817,000
Accumulated other comprehensive income (loss) (1,903,000) (1,910,000)
Treasury stock, at cost; 1,739,852 shares as of June 30, 2025 and 1,723,341 shares as of December 31, 2024 (4,999,000) (4,885,000)
Total shareholders' equity 87,810,000 87,434,000
Total liabilities and shareholders' equity $ 110,392,000 $ 111,484,000