Reis 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 01, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	REIS
Entity Registrant Name	Reis, Inc.
Entity Central Index Key	1,038,222
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,569,692

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 16,251,856	$ 19,670,613
Accounts receivable, net	7,568,405	9,744,513
Prepaid and other assets	1,050,791	681,039
Total current assets	24,871,052	30,096,165
Furniture, fixtures and equipment, net of accumulated depreciation of $2,044,557 and $1,891,684, respectively	4,713,308	4,919,230
Intangible assets, net of accumulated amortization of $50,898,989 and $48,892,725, respectively	19,417,841	19,474,411
Deferred tax asset, net	11,544,895	12,072,118
Goodwill	54,824,648	54,824,648
Other assets	3,240,929	217,161
Total assets	118,612,673	121,603,733
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	3,782,494	4,149,363
Deferred revenue	24,111,992	26,533,983
Total current liabilities	27,894,486	30,683,346
Other long-term liabilities	2,563,142	2,447,037
Total liabilities	30,457,628	33,130,383
Commitments and contingencies
Stockholders' equity:
Common stock, $0.02 par value per share, 101,000,000 shares authorized, 11,569,692 and 11,470,565 shares issued and outstanding, respectively	231,394	229,411
Additional paid in capital	109,929,344	109,361,540
Retained earnings (deficit)	(22,005,693)	(21,117,601)
Total stockholders' equity	88,155,045	88,473,350
Total liabilities and stockholders' equity	$ 118,612,673	$ 121,603,733

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accumulated depreciation of furniture, fixtures and equipment	$ 2,044,557	$ 1,891,684
Accumulated amortization of intangible assets	$ 50,898,989	$ 48,892,725
Common stock, par value	$ 0.02	$ 0.02
Common stock, shares authorized	101,000,000	101,000,000
Common stock, shares issued	11,569,692	11,470,565
Common stock, shares outstanding	11,569,692	11,470,565

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Subscription revenue	$ 11,557,155	$ 11,579,362
Other revenue	222,500	546,592
Total revenue	11,779,655	12,125,954
Cost of sales	3,377,363	3,366,351
Gross profit	8,402,292	8,759,603
Operating expenses:
Sales and marketing	2,998,559	3,328,048
Product development	1,289,042	1,166,671
General and administrative expenses	4,479,524	4,120,484
Total operating expenses	8,767,125	8,615,203
Other income (expenses):
Interest and other income	966	576
Interest expense	(32,234)	(32,234)
Total other income (expenses)	(31,268)	(31,658)
(Loss) income before income taxes	(396,101)	112,742
Income tax (benefit) expense	(44,000)	(422,000)
Net (loss) income	$ (352,101)	$ 534,742
Net (loss) income per common share:
Basic	$ (0.03)	$ 0.05
Diluted	$ (0.03)	$ 0.05
Weighted average number of common shares outstanding:
Basic	11,527,521	11,447,309
Diluted	11,527,521	11,776,375
Dividends declared per common share	$ 0.19	$ 0.17

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - 3 months ended Mar. 31, 2018 - USD ($)	Total	Common Shares	Paid in Capital	Retained Earnings (Deficit)
Balance at Dec. 31, 2017	$ 88,473,350	$ 229,411	$ 109,361,540	$ (21,117,601)
Balance, shares at Dec. 31, 2017		11,470,565
Cumulative effect change in accounting principle (as described in Note 2) at Dec. 31, 2017	1,680,319			1,680,319
Adjusted balance at Dec. 31, 2017	90,153,669	$ 229,411	109,361,540	(19,437,282)
Shares issued for vested employee restricted stock units		$ 2,023	(2,023)
Shares issued for vested employee restricted stock units, shares		101,127
Stock based compensation, net	605,409		605,409
Dividends	(2,216,310)			(2,216,310)
Stock repurchases	$ (35,622)	$ (40)	(35,582)
Stock repurchases, shares	(2,000)	(2,000)
Net (loss)	$ (352,101)			(352,101)
Balance at Mar. 31, 2018	$ 88,155,045	$ 231,394	$ 109,929,344	$ (22,005,693)
Balance, shares at Mar. 31, 2018		11,569,692

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (352,101)	$ 534,742
Adjustments to reconcile to net cash provided by operating activities:
Deferred tax (benefit) provision	(61,000)	(613,000)
Depreciation	256,192	235,955
Amortization of intangible assets	2,006,264	1,672,459
Stock based compensation charges	605,409	534,717
Changes in assets and liabilities:
Accounts receivable, net	2,176,108	1,956,500
Prepaid and other assets	(283,048)	(279,131)
Accrued expenses and other liabilities	(1,067,970)	255,699
Deferred revenue	(2,446,715)	(848,777)
Net cash provided by operating activities	833,139	3,449,164
CASH FLOWS FROM INVESTING ACTIVITIES:
Website and database development costs	(1,949,694)	(2,128,640)
Furniture, fixtures and equipment additions	(50,270)	(423,211)
Net cash (used in) investing activities	(1,999,964)	(2,551,851)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends	(2,216,310)	(1,970,843)
Proceeds from option exercises		2,626,000
Stock repurchases	(35,622)	(1,507,076)
Net cash (used in) financing activities	(2,251,932)	(851,919)
Net (decrease) increase in cash and cash equivalents	(3,418,757)	45,394
Cash and cash equivalents, beginning of period	19,670,613	21,490,586
Cash and cash equivalents, end of period	16,251,856	21,535,980
SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest	12,778	12,778
Cash paid during the period for income taxes		21,671
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Accrual for furniture, fixtures and equipment additions		218,760
Shares issued for vested employee restricted stock units	2,023	1,771
Shares issued for option exercises		$ 5,050
Disposal of fully depreciated furniture, fixtures and equipment	$ 103,319

Organization and Business

Organization and Business	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	1. Organization and Business Reis, Inc. is a Maryland corporation. When we refer to “Reis” or the “Company,” we are referring to Reis, Inc. and its consolidated subsidiaries. The Company provides commercial real estate market information and analytical tools to real estate professionals, through its Reis Services subsidiary. For disclosure and financial reporting purposes, this business is referred to as Reis Services. Reis Services, including its predecessors, was founded in 1980. Reis Services The Company provides commercial real estate (“CRE”) market information and analytical tools to real estate professionals. Reis maintains a proprietary database of information on all commercial properties in metropolitan markets and neighborhoods throughout the U.S. This information is used by CRE investors, lenders and other professionals to make informed buying, selling and financing decisions. In addition, Reis data is used by debt and equity investors to assess, quantify and manage the risks of default and loss associated with individual mortgages, properties, portfolios and real estate backed securities. Reis currently provides its information services to many of the nation’s leading lending institutions, equity investors, brokers and appraisers. The Company’s product portfolio features Reis SE mid-sized Reis Portfolio CRE non-bank ReisReports Depending on the product or level of entitlement, users have access to market trends and forecasts at metropolitan and neighborhood levels throughout the U.S. and/or detailed building-specific information such as rents, vacancy rates, lease terms, property sales, new construction listings, property valuation estimates and property level tax information. Reis’s products are designed to meet the demand for timely and accurate information to support the decision making of property owners, developers, builders, banks and non-bank

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned and controlled subsidiaries. All inter-company accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. Quarterly Reporting The accompanying consolidated financial statements and notes of the Company have been prepared in accordance with the instructions to Form 10-Q Rule 10-01 Regulation S-X Form 10-K Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates related to the adoption of the new revenue recognition standard (as described below) include the amortization period for capitalized commissions and the allocation of the transaction price when a contract includes multiple performance obligations. See “Recently Adopted Accounting Pronouncements” below and Note 4 for additional information. Actual results could differ from those estimates. From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The outcome of any litigation is uncertain; it is possible that a judgment in any legal actions to which the Company is a party, or which are proposed or threatened, will have a material adverse effect on the consolidated financial statements. See Note 11. New Accounting Pronouncements Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers 340-40 Other Assets and Deferred Costs Contracts with Customers 2014-09” 2014-09. In addition to modifying the accounting for revenue recognition, the new standard modifies the accounting for certain incremental costs associated with obtaining contracts with customers, such as commissions, which is the most impactful aspect of the new standard on the Company’s accounting. ASU 2014-09 The cumulative effect adjustments resulting from the adoption of the new standard, including income tax implications, as of January 1, 2018 were as follows: Balance at Adjustments due to ASU 2014-09 Adoption Balance at Balance Sheet Assets Deferred tax asset, net $ 12,072,118 $ (588,223 ) $ 11,483,895 Other assets $ 217,161 $ 3,110,472 $ 3,327,633 Total assets $ 121,603,733 $ 2,522,249 $ 124,125,982 Liabilities Accrued expenses and other liabilities $ 4,149,363 $ 683,291 $ 4,832,654 Deferred revenue $ 26,533,983 $ 24,724 $ 26,558,707 Other long-term liabilities $ 2,447,037 $ 133,915 $ 2,580,952 Total liabilities $ 33,130,383 $ 841,930 $ 33,972,313 Equity Retained earnings (deficit) $ (21,117,601 ) $ 1,680,319 $ (19,437,282 ) Total stockholders’ equity $ 88,473,350 $ 1,680,319 $ 90,153,669 The impact of the new standard on the Company’s consolidated statement of operations and balance sheet as of and for the period ended March 31, 2018 was as follows: For the Three Months Ended March 31, 2018 As Reported Balances ASU 2014-09 Effect of Change Statement of Operations Data Revenue Subscription revenue $ 11,557,155 $ 11,579,153 $ (21,998 ) Other revenue 222,500 222,500 — Total revenue $ 11,779,655 $ 11,801,653 $ (21,998 ) Operating expenses Sales and marketing $ 2,998,559 $ 2,922,829 $ 75,730 Income (loss) before income taxes $ (396,101 ) $ (298,373 ) $ (97,728 ) Income tax (benefit) expense (44,000 ) (19,000 ) (25,000 ) Net (loss) $ (352,101 ) $ (279,373 ) $ (72,728 ) Net (loss) per common share $ (0.03 ) $ (0.02 ) As of March 31, 2018 As reported Balances ASU 2014-09 Effect of change Balance Sheet Data Assets Deferred tax asset, net $ 11,544,895 $ 12,106,118 $ (561,223 ) Other assets $ 3,240,929 $ 197,428 $ 3,043,501 Liabilities Accrued expenses and other liabilities $ 3,782,494 $ 3,118,433 $ 664,061 Deferred revenue $ 24,111,992 $ 24,053,270 $ 58,722 Other long-term liabilities $ 2,563,142 $ 2,401,238 $ 161,904 Equity Retained earnings (deficit) $ (22,005,693 ) $ (20,408,102 ) $ (1,597,591 ) (A) Represents the amounts that would have been reported under GAAP that existed prior to the January 1, 2018 adoption of ASU 2014-09. See Note 4 for further information regarding the Company’s revenue recognition policies and disclosures. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business 2017-01”). 2017-01 2017-01 Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases 2016-02”) . 2016-02 right-of-use 2016-02 2016-02 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments 2016-13”). 2016-13 2016-13 2016-13

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	3. Segment Information The Company is organized into separately managed segments as follows: the Reis Services segment and the Other segment. The following tables present condensed balance sheet and operating data for these segments: (amounts in thousands) Condensed Balance Sheet Data March 31, 2018 Reis Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 15,662 $ 590 $ 16,252 Accounts receivable, net 7,568 — 7,568 Prepaid and other assets 919 132 1,051 Total current assets 24,149 722 24,871 Furniture, fixtures and equipment, net 4,713 — 4,713 Intangible assets, net 19,418 — 19,418 Deferred tax asset, net (303 ) 11,848 11,545 Goodwill 57,203 (2,378 ) 54,825 Other assets 3,241 — 3,241 Total assets $ 108,421 $ 10,192 $ 118,613 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,056 727 3,783 Deferred revenue 24,112 — 24,112 Total current liabilities 27,168 727 27,895 Other long-term liabilities 2,563 — 2,563 Deferred tax liability, net 36,214 (36,214 ) — Total liabilities 65,945 (35,487 ) 30,458 Total stockholders’ equity 42,476 45,679 88,155 Total liabilities and stockholders’ equity $ 108,421 $ 10,192 $ 118,613 Condensed Balance Sheet Data December 31, 2017 Reis Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 18,990 $ 681 $ 19,671 Accounts receivable, net 9,745 — 9,745 Prepaid and other assets 502 179 681 Total current assets 29,237 860 30,097 Furniture, fixtures and equipment, net 4,919 — 4,919 Intangible assets, net 19,474 — 19,474 Deferred tax asset, net 285 11,787 12,072 Goodwill 57,203 (2,378 ) 54,825 Other assets 217 — 217 Total assets $ 111,335 $ 10,269 $ 121,604 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,421 729 4,150 Deferred revenue 26,534 — 26,534 Total current liabilities 29,955 729 30,684 Other long-term liabilities 2,447 — 2,447 Deferred tax liability, net 34,862 (34,862 ) — Total liabilities 67,264 (34,133 ) 33,131 Total stockholders’ equity 44,071 44,402 88,473 Total liabilities and stockholders’ equity $ 111,335 $ 10,269 $ 121,604 (A) Includes cash, other assets and liabilities not specifically attributable to or allocable to the Reis Services segment. (amounts in thousands) Condensed Operating Data for the Three Months Ended March 31, 2018 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 11,557 $ — $ 11,557 Other revenue 223 — 223 Total revenue 11,780 — 11,780 Cost of sales 3,378 — 3,378 Gross profit 8,402 — 8,402 Operating expenses: Sales and marketing 2,999 — 2,999 Product development 1,289 — 1,289 General and administrative expenses 3,041 1,438 4,479 Total operating expenses 7,329 1,438 8,767 Other income (expenses): Interest and other income — 1 1 Interest expense (32 ) — (32 ) Total other income (expenses) (32 ) 1 (31 ) Income (loss) before income taxes $ 1,041 $ (1,437 ) $ (396 ) Condensed Operating Data for the Three Months Ended March 31, 2017 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 11,579 $ — $ 11,579 Other revenue 547 — 547 Total revenue 12,126 — 12,126 Cost of sales 3,366 — 3,366 Gross profit 8,760 — 8,760 Operating expenses: Sales and marketing 3,328 — 3,328 Product development 1,167 — 1,167 General and administrative expenses 2,884 1,236 4,120 Total operating expenses 7,379 1,236 8,615 Other income (expenses): Interest and other income 1 — 1 Interest expense (33 ) — (33 ) Total other income (expenses) (32 ) — (32 ) Income (loss) before income taxes $ 1,349 $ (1,236 ) $ 113 (A) Includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment. Reis Services See Note 1 for a description of Reis Services’s business and products at March 31, 2018. Concentrations The Company’s largest individual customer accounted for 5.8% and 4.3% of total revenue for the three months ended March 31, 2018 and 2017, respectively. The following table presents the accounts receivable balances at March 31, 2018 and December 31, 2017: March 31, December 31, Accounts receivable $ 7,752,000 $ 9,937,000 Allowance for doubtful accounts (184,000 ) (192,000 ) Accounts receivable, net $ 7,568,000 $ 9,745,000 Twenty-three subscribers accounted for an aggregate of approximately 54.9% of Reis Services’s accounts receivable at March 31, 2018, including two subscribers individually in excess of 4.0%, with the largest representing 5.3%. Through April 30, 2018, the Company received payments of approximately $3,714,000, or 47.9%, against the March 31, 2018 accounts receivable balance. At March 31, 2018, the largest individual subscriber accounted for 4.3% of deferred revenue and 8.5% of aggregate revenue under contract (see Note 4 for further discussion).

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	4. Revenue The Company recognizes revenue when it transfers control of promised goods or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. Multiple contracts executed with one customer at or near the same time are combined and accounted for as a single arrangement. Contracts are generally invoiced annually or quarterly at the beginning of the contract term, and the term between invoicing and when payment is due is not significant. A small number of contracts contain variable consideration, which is immaterial. Services are provided “as is” with no rights of return or refund. Sales, value add, and other taxes the Company collects in connection with revenue-producing activities are excluded from revenue. The Company disaggregates revenue by major source: subscription revenue and other revenue. All of the Company’s revenue is included in the Reis Services segment. Subscription Revenue The Company’s subscription revenue is derived principally from subscriptions to its web-based Reis SE Reis Portfolio CRE ReisReports Other Revenue The Company’s other revenue includes non-subscription (1) non-subscription (2) one-time non-subscription Performance Obligations and Contract Balances The majority of the Company’s contracts include a single performance obligation consisting of a subscription to its web-based one-time one-time Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized that the Company also refers to as “Aggregate Revenue Under Contract,” which is the sum of deferred revenue and future revenue under non-cancellable Deferred revenue is recognized as revenue ratably over the remaining life of a contract for subscriptions, or in the case of future custom reports or projects, is recognized as revenue upon completion and delivery to the customer, provided no significant Company obligations remain. The following table reconciles deferred revenue to Aggregate Revenue Under Contract at March 31, 2018 and December 31, 2017, respectively. March 31, 2018 December 31, 2017 Deferred revenue (GAAP basis) $ 24,112,000 $ 26,534,000 Amounts under non-cancellable 24,539,000 25,470,000 Aggregate Revenue Under Contract $ 48,651,000 $ 52,004,000 (A) Amounts are billable in future periods and represent (i) non-cancellable non-cancellable Included in Aggregate Revenue Under Contract at March 31, 2018 was approximately $34,578,000 related to amounts under contract for the forward twelve-month period through March 31, 2019. The remainder reflects amounts under contract beyond March 31, 2019. The decrease in the Company’s net deferred revenue balance for the three months ended March 31, 2018 was primarily due to the timing difference between revenue recognized and amounts billed during the period. The decrease in Aggregate Revenue Under Contract during the three months ended March 31, 2018 was due to revenue recognized in the period in excess of contracts booked in the period. During the three months ended March 31, 2018, the Company recognized revenue of $10,539,000 and $10,948,000 that was included in deferred revenue and Aggregate Revenue Under Contract, respectively, at the beginning of the period. Accounts receivable, net, are recorded at invoiced amounts and do not bear interest. The allowance for doubtful accounts reflects the Company’s assessment of collectibility of outstanding receivables after consideration of the age of a receivable, customer payment history and other current events or economic factors that could affect a customer’s ability to make payments. If a customer does not meet the payment obligations of a contract, any related accounts receivable and deferred revenue are written off at that time and the net amount, after considering any recovery of accounts receivable, is charged to cost of sales. Contract Costs The Company’s direct incremental costs of obtaining a contract, which consist of sales commissions and related payroll taxes, are capitalized and amortized over the contract term for renewal contracts or approximately four years for the incremental commission costs associated with acquiring a new customer, if renewals are expected and the renewal commission is not commensurate with the initial commission. Judgment is required in estimating the commission rates used to calculate sales commissions, as the rates may vary throughout the year and in future years based on the achievement of sales quotas and other factors. The period of benefit for commissions on new customer contracts is estimated by taking into consideration the Company’s technology and customer renewal rates, which represents a significant judgment. Capitalized commissions are included in other assets on the consolidated balance sheet in 2018 and totaled approximately $3,110,000 and $3,044,000 as of January 1, 2018 and March 31, 2018, respectively. During the three months ended March 31, 2018, the Company capitalized additional commissions of $497,000 and recorded $563,000 of amortization expense related to capitalized commissions, which expense is included in sales and marketing expense in the accompanying consolidated statements of operations. The Company’s future amortization expense related to the net capitalized commission asset balance at March 31, 2018 follows: For the Year Ended December 31, Amount 2018 (April 1, 2018 to December 31, 2018) $ 1,411,000 2019 1,061,000 2020 457,000 2021 115,000 Total $ 3,044,000 Cost of sales of subscription revenue principally consists of salaries and related expenses for the Company’s researchers who collect, analyze and maintain the commercial real estate data that is the basis for the Company’s information services. Additionally, cost of sales includes expenses from the amortization of the database intangible asset. The Company concluded that no other costs it incurs meet the capitalization criteria for costs to fulfill a contract.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows: March 31, December 31, Database $ 34,736,000 $ 33,538,000 Accumulated amortization (24,755,000 ) (23,705,000 ) Database, net 9,981,000 9,833,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (10,408,000 ) (10,182,000 ) Customer relationships, net 3,692,000 3,918,000 Website 21,480,000 20,729,000 Accumulated amortization (15,735,000 ) (15,006,000 ) Website, net 5,745,000 5,723,000 Intangibles, net $ 19,418,000 $ 19,474,000 The Company capitalized approximately $1,198,000 and $1,248,000 to the database intangible asset and $751,000 and $880,000 to the website intangible asset during the three months ended March 31, 2018 and 2017, respectively. Amortization expense for intangible assets aggregated approximately $2,006,000 for the three months ended March 31, 2018, of which approximately $1,050,000 related to the database, which is charged to cost of sales, approximately $227,000 related to customer relationships, which is charged to sales and marketing expense and approximately $729,000 related to website development, which is charged to product development expense, all in the Reis Services segment. Amortization expense for intangible assets aggregated approximately $1,673,000 for the three months ended March 31, 2017, of which approximately $872,000 related to the database, approximately $231,000 related to customer relationships and approximately $570,000 related to website development.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	6. Debt The Company had no debt outstanding at March 31, 2018 and December 31, 2017. In October 2012, Reis Services, as borrower, and the Company, as guarantor, entered into a loan and security agreement with Capital One, National Association, as lender (“Capital One”), for a $10,000,000 revolving credit facility (the “2012 Revolver”). The 2012 Revolver had a three-year term scheduled to expire on October 16, 2015; however, the expiration date was extended to January 31, 2016. In January 2016, Reis Services and Capital One executed an amended and restated loan and security agreement for a $20,000,000 revolving credit facility with terms substantially similar to the 2012 Revolver (as amended, the “2016 Revolver,” and collectively with the 2012 Revolver, the “Revolver”). The 2016 Revolver expires on January 28, 2019. Any borrowings on the Revolver bear interest at a rate of LIBOR + 2.00% per annum (for LIBOR loans) or the greater of 1.00% or the bank’s prime rate minus 0.50% per annum (for base rate loans). Capital One charges an unused facility fee of 0.25% per annum. The Revolver is secured by a security interest in substantially all of the tangible and intangible assets of Reis Services, all copyrights of the Company and a pledge by the Company of its membership interests in Reis Services. The Revolver also contains customary affirmative and negative covenants, including minimum financial covenants, as defined in the amended and restated revolving loan credit agreement; all of the covenants were met at March 31, 2018 and December 31, 2017. No borrowings were made on the Revolver during the three months ended March 31, 2018 and during the year ended December 31, 2017.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The components of income tax expense (benefit) are as follows: For the Three Months Ended March 31, 2018 2017 Current Federal expense $ — $ 19,000 Current state and local tax expense 17,000 172,000 Deferred Federal tax (benefit) expense (A) (34,000 ) (473,000 ) Deferred state and local tax (benefit) expense (27,000 ) (140,000 ) Income tax (benefit) expense (B) $ (44,000 ) $ (422,000 ) (A) Includes an alternative minimum tax (“AMT”) deferred expense (benefit) of $— and $(19,000) in 2018 and 2017. (B) The income tax expense in 2017 reflects the impact from the recognition of a windfall tax benefit on stock options exercised in the 2017 first quarter. Due to the amount of its NOL and credit carryforwards, the Company does not anticipate paying Federal income taxes for a number of years. The Company expects, in the future, that it will be subject to cash payments for state and local taxes where the Company has established nexus and there are no available NOLs, and for a portion of its state and local income taxes for New York State and New York City due to laws enacted in March 2014 and April 2015, respectively, which limit the amount of existing NOLs which could be used each year. On December 22, 2017, the Federal government of the United States enacted the U.S. Tax Cuts and Jobs Act (“the Tax Act”) which significantly changed existing U.S. tax laws, including a reduction in the Federal corporate income tax rate from 35% to 21%, repeal of corporate Federal AMT and a refund of certain existing AMT credits over several years, introduction of a capital investment deduction, limitation of the interest deduction, limitation of the use of net operating losses incurred on or after January 1, 2018 to offset future taxable income, limitation of the deduction for compensation paid to certain executive officers and extensive changes to the U.S. international tax system, as well as other changes. These changes generally took effect on January 1, 2018. The U.S. Treasury department is expected to release regulations implementing the Tax Act and the U.S. tax laws may be further amended in the future. The Company’s Federal net operating losses that have been incurred prior to December 31, 2017 will continue to have a 20-year Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The net deferred tax asset was approximately $11,545,000 and $12,072,000 at March 31, 2018 and December 31, 2017, respectively, all of which was classified as non-current. The Company had Federal NOL carryforwards aggregating approximately $37,859,000 at December 31, 2017, as well as significant state and local NOL carryforwards. Approximately $5,140,000 of these Federal NOLs are subject to an annual Internal Revenue Code Section 382 limitation of $2,779,000, whereas the remaining balance of approximately $32,719,000 is not subject to the limitation. The enactment of a 2014 New York State law and a 2015 New York City law limit the amount of existing NOLs which could be used each year in those jurisdictions; however, all such NOLs are expected to be fully utilized in the future.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity	8. Stockholders’ Equity On August 30, 2016, the Company’s Board of Directors (the “Board”) authorized a repurchase program of shares of the Company’s common stock up to an aggregate of $5,000,000. Purchases under the program may be made from time to time in the open market or through privately negotiated transactions. Depending on market conditions, financial developments and other factors, these purchases may be commenced or suspended at any time, or from time to time, without prior notice and may be expanded without prior notice. The Company may make purchases pursuant to a trading plan under Securities Exchange Act Rule 10b5-1, During the three months ended March 31, 2018, the Company purchased an aggregate of 2,000 shares of common stock, for approximately $36,000, or an average price of $17.81 per share. From the inception of the share repurchase program in August 2016 through March 31, 2018, the Company purchased an aggregate of 238,204 shares of common stock for approximately $4,601,000, or an average price of $19.31 per share. During the three months ended March 31, 2017, the Company purchased an aggregate of 78,440 shares of common stock for approximately $1,507,000. The Company declared and paid a quarterly cash dividend of $0.19 and $0.17 per common share for the three months ended March 31, 2018 and 2017, respectively. Dividend payments aggregated approximately $2,216,000 and $1,971,000 for the three months ended March 31, 2018 and 2017, respectively.

Stock Plans and Other Incentive

Stock Plans and Other Incentives	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Plans and Other Incentives	9. Stock Plans and Other Incentives The Company has adopted certain incentive plans for the purpose of attracting and retaining the Company’s directors, officers and employees by having the ability to issue options, restricted stock units (“RSUs”), or stock awards. Awards granted under the Company’s incentive plans expire ten years from the date of grant and vest over periods ranging generally from three to five years for employees. Stock Plans and Other Incentives (continued) Option Awards The following table presents option activity and other plan data for the three months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 Options Weighted- Options Weighted- Outstanding at beginning of period 245,000 $ 8.88 530,000 $ 9.64 Granted — $ — — $ — Exercised — $ — (252,500 ) $ (10.40 ) Forfeited/cancelled/expired — $ — — $ — Outstanding at end of period 245,000 $ 8.88 277,500 $ 8.96 Options exercisable at end of period 237,000 $ 8.56 265,500 $ 8.52 RSU Awards The following table presents the changes in RSUs outstanding for the three months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 Outstanding at beginning of period 318,412 281,320 Granted 149,673 133,178 Common stock delivered (A) (101,127 ) (88,543 ) Forfeited (2,212 ) (2,810 ) Outstanding at end of period 364,476 323,145 Intrinsic value (B) $ 7,818,000 $ 5,784,000 (A) In the 2018 and 2017 period, all of the vested RSUs were issued as shares. (B) For purposes of this calculation, the Company’s closing stock prices were $21.45 and $17.90 per share on March 31, 2018 and 2017, respectively. In the three months ended March 31, 2018, an aggregate of 148,005 RSUs were granted to employees, which RSUs vest one-third one-third During the three months ended March 31, 2018 and 2017, an aggregate of 1,668 RSUs and 1,548 RSUs, respectively, were granted to non-employee non-employee non-employee Option and RSU Expense Information The Company recorded non-cash non-employee

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Common Share	10. Earnings Per Common Share Basic earnings per common share is computed based upon the weighted average number of common shares outstanding during the period. Diluted earnings per common share is based upon the increased number of common shares that would be outstanding assuming the exercise of dilutive common share options and the consideration of restricted stock awards. The following table details the computation of earnings per common share, basic and diluted: For the Three Months Ended March 31, 2018 2017 Numerator: Net (loss) income for basic calculation $ (352,101 ) $ 534,742 Adjustments to net income for the impact of dilutive securities — — Net (loss) income for dilution calculation $ (352,101 ) $ 534,742 Denominator: Weighted average common shares – basic 11,527,521 11,447,309 Effect of dilutive securities: RSUs — 135,689 Stock options — 193,377 Weighted average common shares – diluted 11,527,521 11,776,375 Net (loss) income per common share: Basic $ (0.03 ) $ 0.05 Diluted $ (0.03 ) $ 0.05 Potentially dilutive securities include all stock-based awards. For the three months ended March 31, 2018 and 2017, certain equity awards were antidilutive.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The Company is not a party to any litigation that could reasonably be foreseen to be material to the Company.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	12. Fair Value of Financial Instruments At March 31, 2018 and December 31, 2017, the Company’s financial instruments included receivables, payables, accrued expenses, other liabilities and debt. The fair values of these financial instruments were not materially different from their recorded values at March 31, 2018 and December 31, 2017. The Company had no debt outstanding at March 31, 2018 and December 31, 2017. See Note 6 for additional information about the Company’s debt.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Principles of Consolidation	The accompanying consolidated financial statements include the accounts of the Company and its majority-owned and controlled subsidiaries. All inter-company accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation.
Quarterly Reporting	Quarterly Reporting The accompanying consolidated financial statements and notes of the Company have been prepared in accordance with the instructions to Form 10-Q Rule 10-01 Regulation S-X Form 10-K
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates related to the adoption of the new revenue recognition standard (as described below) include the amortization period for capitalized commissions and the allocation of the transaction price when a contract includes multiple performance obligations. See “Recently Adopted Accounting Pronouncements” below and Note 4 for additional information. Actual results could differ from those estimates. From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The outcome of any litigation is uncertain; it is possible that a judgment in any legal actions to which the Company is a party, or which are proposed or threatened, will have a material adverse effect on the consolidated financial statements. See Note 11.
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers 340-40 Other Assets and Deferred Costs Contracts with Customers 2014-09” 2014-09. In addition to modifying the accounting for revenue recognition, the new standard modifies the accounting for certain incremental costs associated with obtaining contracts with customers, such as commissions, which is the most impactful aspect of the new standard on the Company’s accounting. ASU 2014-09 The cumulative effect adjustments resulting from the adoption of the new standard, including income tax implications, as of January 1, 2018 were as follows: Balance at Adjustments due to ASU 2014-09 Adoption Balance at Balance Sheet Assets Deferred tax asset, net $ 12,072,118 $ (588,223 ) $ 11,483,895 Other assets $ 217,161 $ 3,110,472 $ 3,327,633 Total assets $ 121,603,733 $ 2,522,249 $ 124,125,982 Liabilities Accrued expenses and other liabilities $ 4,149,363 $ 683,291 $ 4,832,654 Deferred revenue $ 26,533,983 $ 24,724 $ 26,558,707 Other long-term liabilities $ 2,447,037 $ 133,915 $ 2,580,952 Total liabilities $ 33,130,383 $ 841,930 $ 33,972,313 Equity Retained earnings (deficit) $ (21,117,601 ) $ 1,680,319 $ (19,437,282 ) Total stockholders’ equity $ 88,473,350 $ 1,680,319 $ 90,153,669 The impact of the new standard on the Company’s consolidated statement of operations and balance sheet as of and for the period ended March 31, 2018 was as follows: For the Three Months Ended March 31, 2018 As Reported Balances ASU 2014-09 Effect of Change Statement of Operations Data Revenue Subscription revenue $ 11,557,155 $ 11,579,153 $ (21,998 ) Other revenue 222,500 222,500 — Total revenue $ 11,779,655 $ 11,801,653 $ (21,998 ) Operating expenses Sales and marketing $ 2,998,559 $ 2,922,829 $ 75,730 Income (loss) before income taxes $ (396,101 ) $ (298,373 ) $ (97,728 ) Income tax (benefit) expense (44,000 ) (19,000 ) (25,000 ) Net (loss) $ (352,101 ) $ (279,373 ) $ (72,728 ) Net (loss) per common share $ (0.03 ) $ (0.02 ) As of March 31, 2018 As reported Balances ASU 2014-09 Effect of change Balance Sheet Data Assets Deferred tax asset, net $ 11,544,895 $ 12,106,118 $ (561,223 ) Other assets $ 3,240,929 $ 197,428 $ 3,043,501 Liabilities Accrued expenses and other liabilities $ 3,782,494 $ 3,118,433 $ 664,061 Deferred revenue $ 24,111,992 $ 24,053,270 $ 58,722 Other long-term liabilities $ 2,563,142 $ 2,401,238 $ 161,904 Equity Retained earnings (deficit) $ (22,005,693 ) $ (20,408,102 ) $ (1,597,591 ) (A) Represents the amounts that would have been reported under GAAP that existed prior to the January 1, 2018 adoption of ASU 2014-09. See Note 4 for further information regarding the Company’s revenue recognition policies and disclosures. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business 2017-01”). 2017-01 2017-01 Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases 2016-02”) . 2016-02 right-of-use 2016-02 2016-02 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments 2016-13”). 2016-13 2016-13 2016-13
Subscription Revenue	Subscription Revenue The Company’s subscription revenue is derived principally from subscriptions to its web-based Reis SE Reis Portfolio CRE ReisReports
Other Revenue	Other Revenue The Company’s other revenue includes non-subscription (1) non-subscription (2) one-time non-subscription
Performance Obligations and Contract Balances	Performance Obligations and Contract Balances The majority of the Company’s contracts include a single performance obligation consisting of a subscription to its web-based one-time one-time Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized that the Company also refers to as “Aggregate Revenue Under Contract,” which is the sum of deferred revenue and future revenue under non-cancellable Deferred revenue is recognized as revenue ratably over the remaining life of a contract for subscriptions, or in the case of future custom reports or projects, is recognized as revenue upon completion and delivery to the customer, provided no significant Company obligations remain. The following table reconciles deferred revenue to Aggregate Revenue Under Contract at March 31, 2018 and December 31, 2017, respectively. March 31, 2018 December 31, 2017 Deferred revenue (GAAP basis) $ 24,112,000 $ 26,534,000 Amounts under non-cancellable 24,539,000 25,470,000 Aggregate Revenue Under Contract $ 48,651,000 $ 52,004,000 (A) Amounts are billable in future periods and represent (i) non-cancellable non-cancellable Included in Aggregate Revenue Under Contract at March 31, 2018 was approximately $34,578,000 related to amounts under contract for the forward twelve-month period through March 31, 2019. The remainder reflects amounts under contract beyond March 31, 2019. The decrease in the Company’s net deferred revenue balance for the three months ended March 31, 2018 was primarily due to the timing difference between revenue recognized and amounts billed during the period. The decrease in Aggregate Revenue Under Contract during the three months ended March 31, 2018 was due to revenue recognized in the period in excess of contracts booked in the period. During the three months ended March 31, 2018, the Company recognized revenue of $10,539,000 and $10,948,000 that was included in deferred revenue and Aggregate Revenue Under Contract, respectively, at the beginning of the period. Accounts receivable, net, are recorded at invoiced amounts and do not bear interest. The allowance for doubtful accounts reflects the Company’s assessment of collectibility of outstanding receivables after consideration of the age of a receivable, customer payment history and other current events or economic factors that could affect a customer’s ability to make payments. If a customer does not meet the payment obligations of a contract, any related accounts receivable and deferred revenue are written off at that time and the net amount, after considering any recovery of accounts receivable, is charged to cost of sales.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Cumulative Effect Adjustments Resulting from Adoption of New Standard, Including Income Tax Implications	Balance at Adjustments due to ASU 2014-09 Adoption Balance at Balance Sheet Assets Deferred tax asset, net $ 12,072,118 $ (588,223 ) $ 11,483,895 Other assets $ 217,161 $ 3,110,472 $ 3,327,633 Total assets $ 121,603,733 $ 2,522,249 $ 124,125,982 Liabilities Accrued expenses and other liabilities $ 4,149,363 $ 683,291 $ 4,832,654 Deferred revenue $ 26,533,983 $ 24,724 $ 26,558,707 Other long-term liabilities $ 2,447,037 $ 133,915 $ 2,580,952 Total liabilities $ 33,130,383 $ 841,930 $ 33,972,313 Equity Retained earnings (deficit) $ (21,117,601 ) $ 1,680,319 $ (19,437,282 ) Total stockholders’ equity $ 88,473,350 $ 1,680,319 $ 90,153,669
Summary of Impact of New Standard on Consolidated Statement of Operations and Balance Sheet	The impact of the new standard on the Company’s consolidated statement of operations and balance sheet as of and for the period ended March 31, 2018 was as follows: For the Three Months Ended March 31, 2018 As Reported Balances ASU 2014-09 Effect of Change Statement of Operations Data Revenue Subscription revenue $ 11,557,155 $ 11,579,153 $ (21,998 ) Other revenue 222,500 222,500 — Total revenue $ 11,779,655 $ 11,801,653 $ (21,998 ) Operating expenses Sales and marketing $ 2,998,559 $ 2,922,829 $ 75,730 Income (loss) before income taxes $ (396,101 ) $ (298,373 ) $ (97,728 ) Income tax (benefit) expense (44,000 ) (19,000 ) (25,000 ) Net (loss) $ (352,101 ) $ (279,373 ) $ (72,728 ) Net (loss) per common share $ (0.03 ) $ (0.02 ) As of March 31, 2018 As reported Balances ASU 2014-09 Effect of change Balance Sheet Data Assets Deferred tax asset, net $ 11,544,895 $ 12,106,118 $ (561,223 ) Other assets $ 3,240,929 $ 197,428 $ 3,043,501 Liabilities Accrued expenses and other liabilities $ 3,782,494 $ 3,118,433 $ 664,061 Deferred revenue $ 24,111,992 $ 24,053,270 $ 58,722 Other long-term liabilities $ 2,563,142 $ 2,401,238 $ 161,904 Equity Retained earnings (deficit) $ (22,005,693 ) $ (20,408,102 ) $ (1,597,591 ) (A) Represents the amounts that would have been reported under GAAP that existed prior to the January 1, 2018 adoption of ASU 2014-09.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Condensed Balance Sheet and Operating Data for Segments	The Company is organized into separately managed segments as follows: the Reis Services segment and the Other segment. The following tables present condensed balance sheet and operating data for these segments: (amounts in thousands) Condensed Balance Sheet Data March 31, 2018 Reis Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 15,662 $ 590 $ 16,252 Accounts receivable, net 7,568 — 7,568 Prepaid and other assets 919 132 1,051 Total current assets 24,149 722 24,871 Furniture, fixtures and equipment, net 4,713 — 4,713 Intangible assets, net 19,418 — 19,418 Deferred tax asset, net (303 ) 11,848 11,545 Goodwill 57,203 (2,378 ) 54,825 Other assets 3,241 — 3,241 Total assets $ 108,421 $ 10,192 $ 118,613 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,056 727 3,783 Deferred revenue 24,112 — 24,112 Total current liabilities 27,168 727 27,895 Other long-term liabilities 2,563 — 2,563 Deferred tax liability, net 36,214 (36,214 ) — Total liabilities 65,945 (35,487 ) 30,458 Total stockholders’ equity 42,476 45,679 88,155 Total liabilities and stockholders’ equity $ 108,421 $ 10,192 $ 118,613 Condensed Balance Sheet Data December 31, 2017 Reis Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 18,990 $ 681 $ 19,671 Accounts receivable, net 9,745 — 9,745 Prepaid and other assets 502 179 681 Total current assets 29,237 860 30,097 Furniture, fixtures and equipment, net 4,919 — 4,919 Intangible assets, net 19,474 — 19,474 Deferred tax asset, net 285 11,787 12,072 Goodwill 57,203 (2,378 ) 54,825 Other assets 217 — 217 Total assets $ 111,335 $ 10,269 $ 121,604 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,421 729 4,150 Deferred revenue 26,534 — 26,534 Total current liabilities 29,955 729 30,684 Other long-term liabilities 2,447 — 2,447 Deferred tax liability, net 34,862 (34,862 ) — Total liabilities 67,264 (34,133 ) 33,131 Total stockholders’ equity 44,071 44,402 88,473 Total liabilities and stockholders’ equity $ 111,335 $ 10,269 $ 121,604 (A) Includes cash, other assets and liabilities not specifically attributable to or allocable to the Reis Services segment. (amounts in thousands) Condensed Operating Data for the Three Months Ended March 31, 2018 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 11,557 $ — $ 11,557 Other revenue 223 — 223 Total revenue 11,780 — 11,780 Cost of sales 3,378 — 3,378 Gross profit 8,402 — 8,402 Operating expenses: Sales and marketing 2,999 — 2,999 Product development 1,289 — 1,289 General and administrative expenses 3,041 1,438 4,479 Total operating expenses 7,329 1,438 8,767 Other income (expenses): Interest and other income — 1 1 Interest expense (32 ) — (32 ) Total other income (expenses) (32 ) 1 (31 ) Income (loss) before income taxes $ 1,041 $ (1,437 ) $ (396 ) Condensed Operating Data for the Three Months Ended March 31, 2017 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 11,579 $ — $ 11,579 Other revenue 547 — 547 Total revenue 12,126 — 12,126 Cost of sales 3,366 — 3,366 Gross profit 8,760 — 8,760 Operating expenses: Sales and marketing 3,328 — 3,328 Product development 1,167 — 1,167 General and administrative expenses 2,884 1,236 4,120 Total operating expenses 7,379 1,236 8,615 Other income (expenses): Interest and other income 1 — 1 Interest expense (33 ) — (33 ) Total other income (expenses) (32 ) — (32 ) Income (loss) before income taxes $ 1,349 $ (1,236 ) $ 113 (A) Includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment.
Accounts Receivable Balances	The following table presents the accounts receivable balances at March 31, 2018 and December 31, 2017: March 31, December 31, Accounts receivable $ 7,752,000 $ 9,937,000 Allowance for doubtful accounts (184,000 ) (192,000 ) Accounts receivable, net $ 7,568,000 $ 9,745,000

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Summary of Reconciliation of Deferred Revenue to Aggregate Revenue Under Contract	The following table reconciles deferred revenue to Aggregate Revenue Under Contract at March 31, 2018 and December 31, 2017, respectively. March 31, 2018 December 31, 2017 Deferred revenue (GAAP basis) $ 24,112,000 $ 26,534,000 Amounts under non-cancellable 24,539,000 25,470,000 Aggregate Revenue Under Contract $ 48,651,000 $ 52,004,000 (A) Amounts are billable in future periods and represent (i) non-cancellable non-cancellable
Summary of Amortization Expense Related to Net Capitalized Commission Asset	The Company’s future amortization expense related to the net capitalized commission asset balance at March 31, 2018 follows: For the Year Ended December 31, Amount 2018 (April 1, 2018 to December 31, 2018) $ 1,411,000 2019 1,061,000 2020 457,000 2021 115,000 Total $ 3,044,000

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Identified Intangible Assets	The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows: March 31, December 31, Database $ 34,736,000 $ 33,538,000 Accumulated amortization (24,755,000 ) (23,705,000 ) Database, net 9,981,000 9,833,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (10,408,000 ) (10,182,000 ) Customer relationships, net 3,692,000 3,918,000 Website 21,480,000 20,729,000 Accumulated amortization (15,735,000 ) (15,006,000 ) Website, net 5,745,000 5,723,000 Intangibles, net $ 19,418,000 $ 19,474,000

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) are as follows: For the Three Months Ended March 31, 2018 2017 Current Federal expense $ — $ 19,000 Current state and local tax expense 17,000 172,000 Deferred Federal tax (benefit) expense (A) (34,000 ) (473,000 ) Deferred state and local tax (benefit) expense (27,000 ) (140,000 ) Income tax (benefit) expense (B) $ (44,000 ) $ (422,000 ) (A) Includes an alternative minimum tax (“AMT”) deferred expense (benefit) of $— and $(19,000) in 2018 and 2017. (B) The income tax expense in 2017 reflects the impact from the recognition of a windfall tax benefit on stock options exercised in the 2017 first quarter.

Stock Plans and Other Incenti25

Stock Plans and Other Incentives (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Option Activity and Other Plan Data	The following table presents option activity and other plan data for the three months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 Options Weighted- Options Weighted- Outstanding at beginning of period 245,000 $ 8.88 530,000 $ 9.64 Granted — $ — — $ — Exercised — $ — (252,500 ) $ (10.40 ) Forfeited/cancelled/expired — $ — — $ — Outstanding at end of period 245,000 $ 8.88 277,500 $ 8.96 Options exercisable at end of period 237,000 $ 8.56 265,500 $ 8.52
Changes in RSUs	The following table presents the changes in RSUs outstanding for the three months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 Outstanding at beginning of period 318,412 281,320 Granted 149,673 133,178 Common stock delivered (A) (101,127 ) (88,543 ) Forfeited (2,212 ) (2,810 ) Outstanding at end of period 364,476 323,145 Intrinsic value (B) $ 7,818,000 $ 5,784,000 (A) In the 2018 and 2017 period, all of the vested RSUs were issued as shares. (B) For purposes of this calculation, the Company’s closing stock prices were $21.45 and $17.90 per share on March 31, 2018 and 2017, respectively.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Details of Computation of Earnings per Common Share, Basic and Diluted	The following table details the computation of earnings per common share, basic and diluted: For the Three Months Ended March 31, 2018 2017 Numerator: Net (loss) income for basic calculation $ (352,101 ) $ 534,742 Adjustments to net income for the impact of dilutive securities — — Net (loss) income for dilution calculation $ (352,101 ) $ 534,742 Denominator: Weighted average common shares – basic 11,527,521 11,447,309 Effect of dilutive securities: RSUs — 135,689 Stock options — 193,377 Weighted average common shares – diluted 11,527,521 11,776,375 Net (loss) income per common share: Basic $ (0.03 ) $ 0.05 Diluted $ (0.03 ) $ 0.05

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Summary of Cumulative Effect Adjustments Resulting from Adoption of New Standard, Including Income Tax Implications (Detail) - USD ($)	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
ASSETS
Deferred tax asset, net	$ 11,544,895	$ 11,483,895	$ 12,072,118
Other assets	3,240,929	3,327,633	217,161
Total assets	118,612,673	124,125,982	121,603,733
Liabilities
Accrued expenses and other liabilities	3,782,494	4,832,654	4,149,363
Deferred revenue	24,111,992	26,558,707	26,533,983
Other long-term liabilities	2,563,142	2,580,952	2,447,037
Total liabilities	30,457,628	33,972,313	33,130,383
Equity
Retained earnings (deficit)	(22,005,693)	(19,437,282)	(21,117,601)
Total stockholders' equity	$ 88,155,045	$ 90,153,669	88,473,350
ASU 2014-09 [Member]
ASSETS
Deferred tax asset, net			(588,223)
Other assets			3,110,472
Total assets			2,522,249
Liabilities
Accrued expenses and other liabilities			683,291
Deferred revenue			24,724
Other long-term liabilities			133,915
Total liabilities			841,930
Equity
Retained earnings (deficit)			1,680,319
Total stockholders' equity			$ 1,680,319

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Summary of Impact of New Standard on Consolidated Statement of Operations and Balance Sheet (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Revenue
Subscription revenue	$ 11,557,155	$ 11,579,362
Other revenue	222,500	546,592
Total revenue	11,779,655	12,125,954
Operating expenses
Sales and marketing	2,998,559	3,328,048
Income (loss) before income taxes	(396,101)	112,742
Income tax (benefit) expense	(44,000)	(422,000)
Net (loss)	$ (352,101)	$ 534,742
Net (loss) per common share	$ (0.03)
ASSETS
Deferred tax asset, net	$ 11,544,895		$ 11,483,895	$ 12,072,118
Other assets	3,240,929		3,327,633	217,161
Liabilities
Accrued expenses and other liabilities	3,782,494		4,832,654	4,149,363
Deferred revenue	24,111,992		26,558,707	26,533,983
Other long-term liabilities	2,563,142		2,580,952	2,447,037
Equity
Retained earnings (deficit)	(22,005,693)		$ (19,437,282)	(21,117,601)
Balances Without Adoption of ASU 2014-09 [Member]
Revenue
Subscription revenue	11,579,153
Other revenue	222,500
Total revenue	11,801,653
Operating expenses
Sales and marketing	2,922,829
Income (loss) before income taxes	(298,373)
Income tax (benefit) expense	(19,000)
Net (loss)	$ (279,373)
Net (loss) per common share	$ (0.02)
ASSETS
Deferred tax asset, net	$ 12,106,118
Other assets	197,428
Liabilities
Accrued expenses and other liabilities	3,118,433
Deferred revenue	24,053,270
Other long-term liabilities	2,401,238
Equity
Retained earnings (deficit)	(20,408,102)
ASU 2014-09 [Member]
ASSETS
Deferred tax asset, net				(588,223)
Other assets				3,110,472
Liabilities
Accrued expenses and other liabilities				683,291
Deferred revenue				24,724
Other long-term liabilities				133,915
Equity
Retained earnings (deficit)				$ 1,680,319
ASU 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue
Subscription revenue	(21,998)
Total revenue	(21,998)
Operating expenses
Sales and marketing	75,730
Income (loss) before income taxes	(97,728)
Income tax (benefit) expense	(25,000)
Net (loss)	(72,728)
ASSETS
Deferred tax asset, net	(561,223)
Other assets	3,043,501
Liabilities
Accrued expenses and other liabilities	664,061
Deferred revenue	58,722
Other long-term liabilities	161,904
Equity
Retained earnings (deficit)	$ (1,597,591)

Segment Information - Condensed

Segment Information - Condensed Balance Sheet Data for Segments (Detail) - USD ($)	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 16,251,856		$ 19,670,613	$ 21,535,980	$ 21,490,586
Accounts receivable, net	7,568,405		9,744,513
Prepaid and other assets	1,050,791		681,039
Total current assets	24,871,052		30,096,165
Furniture, fixtures and equipment, net	4,713,308		4,919,230
Intangible assets, net	19,417,841		19,474,411
Deferred tax asset, net	11,544,895	$ 11,483,895	12,072,118
Goodwill	54,824,648		54,824,648
Other assets	3,240,929	3,327,633	217,161
Total assets	118,612,673	124,125,982	121,603,733
Current liabilities:
Current portion of debt	0		0
Accrued expenses and other liabilities	3,782,494	4,832,654	4,149,363
Deferred revenue	24,111,992	26,558,707	26,533,983
Total current liabilities	27,894,486		30,683,346
Other long-term liabilities	2,563,142	2,580,952	2,447,037
Total liabilities	30,457,628	33,972,313	33,130,383
Total stockholders' equity	88,155,045	$ 90,153,669	88,473,350
Total liabilities and stockholders' equity	118,612,673		121,603,733
Reis Services [Member]
Current assets:
Accounts receivable, net	7,568,000		9,745,000
Reis Services [Member] | Operating Segments [Member]
Current assets:
Cash and cash equivalents	15,662,000		18,990,000
Accounts receivable, net	7,568,000		9,745,000
Prepaid and other assets	919,000		502,000
Total current assets	24,149,000		29,237,000
Furniture, fixtures and equipment, net	4,713,000		4,919,000
Intangible assets, net	19,418,000		19,474,000
Deferred tax asset, net	(303,000)		285,000
Goodwill	57,203,000		57,203,000
Other assets	3,241,000		217,000
Total assets	108,421,000		111,335,000
Current liabilities:
Current portion of debt	0		0
Accrued expenses and other liabilities	3,056,000		3,421,000
Deferred revenue	24,112,000		26,534,000
Total current liabilities	27,168,000		29,955,000
Other long-term liabilities	2,563,000		2,447,000
Deferred tax liability, net	36,214,000		34,862,000
Total liabilities	65,945,000		67,264,000
Total stockholders' equity	42,476,000		44,071,000
Total liabilities and stockholders' equity	108,421,000		111,335,000
Other [Member]
Current assets:
Cash and cash equivalents	590,000		681,000
Prepaid and other assets	132,000		179,000
Total current assets	722,000		860,000
Deferred tax asset, net	11,848,000		11,787,000
Goodwill	(2,378,000)		(2,378,000)
Total assets	10,192,000		10,269,000
Current liabilities:
Current portion of debt	0		0
Accrued expenses and other liabilities	727,000		729,000
Total current liabilities	727,000		729,000
Deferred tax liability, net	(36,214,000)		(34,862,000)
Total liabilities	(35,487,000)		(34,133,000)
Total stockholders' equity	45,679,000		44,402,000
Total liabilities and stockholders' equity	$ 10,192,000		$ 10,269,000

Segment Information - Condens30

Segment Information - Condensed Operating Data for Segments (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Subscription revenue	$ 11,557,155	$ 11,579,362
Other revenue	222,500	546,592
Total revenue	11,779,655	12,125,954
Cost of sales	3,377,363	3,366,351
Gross profit	8,402,292	8,759,603
Operating expenses:
Sales and marketing	2,998,559	3,328,048
Product development	1,289,042	1,166,671
General and administrative expenses	4,479,524	4,120,484
Total operating expenses	8,767,125	8,615,203
Other income (expenses):
Interest and other income	966	576
Interest expense	(32,234)	(32,234)
Total other income (expenses)	(31,268)	(31,658)
Income (loss) before income taxes	(396,101)	112,742
Operating Segments [Member] | Reis Services [Member]
Revenue:
Subscription revenue	11,557,000	11,579,000
Other revenue	223,000	547,000
Total revenue	11,780,000	12,126,000
Cost of sales	3,378,000	3,366,000
Gross profit	8,402,000	8,760,000
Operating expenses:
Sales and marketing	2,999,000	3,328,000
Product development	1,289,000	1,167,000
General and administrative expenses	3,041,000	2,884,000
Total operating expenses	7,329,000	7,379,000
Other income (expenses):
Interest and other income		1,000
Interest expense	(32,000)	(33,000)
Total other income (expenses)	(32,000)	(32,000)
Income (loss) before income taxes	1,041,000	1,349,000
Other [Member]
Operating expenses:
General and administrative expenses	1,438,000	1,236,000
Total operating expenses	1,438,000	1,236,000
Other income (expenses):
Interest and other income	1,000
Total other income (expenses)	1,000
Income (loss) before income taxes	$ (1,437,000)	$ (1,236,000)

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Reis Services [Member]	1 Months Ended	3 Months Ended
	Apr. 30, 2018USD ($)	Mar. 31, 2018Subscriber	Mar. 31, 2017
Segment Reporting Information [Line Items]
Percentage of Reis Service's revenue by major customer		5.80%	4.30%
Number of subscribers contributing largest share among accounts receivable		23
Aggregate percentage of subscribers contributing largest share among accounts receivable		54.90%
Number of subscribers individually accounted for more than 4% of accounts receivable		2
Percentage of deferred revenue by major subscriber		4.30%
Subsequent Event [Member]
Segment Reporting Information [Line Items]
Payments received against accounts receivable | $	$ 3,714,000
Percentage collected from trade accounts receivable	47.90%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of aggregate revenue under contract		8.50%
Maximum [Member]
Segment Reporting Information [Line Items]
Percentage of Reis Service's accounts receivable by major subscriber		5.30%

Segment Information - Accounts

Segment Information - Accounts Receivable Balances (Detail) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Accounts receivable, net	$ 7,568,405	$ 9,744,513
Reis Services [Member]
Segment Reporting Information [Line Items]
Accounts receivable	7,752,000	9,937,000
Allowance for doubtful accounts	(184,000)	(192,000)
Accounts receivable, net	$ 7,568,000	$ 9,745,000

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 31, 2018
Deferred Revenue [Abstract]
Percentage of subscription in revenue	98.10%	95.50%
Aggregate revenue under contract	$ 34,578,000
Aggregate revenue recognized	10,948,000
Revenue	$ 10,539,000
Capitalized contract cost amortization period	4 years
Capitalized commissions	$ 3,044,000		$ 3,110,000
Capitalized additional commissions	497,000
Capitalized commission amortization expense	$ 563,000

Revenue - Reconciliation of Def

Revenue - Reconciliation of Deferred Revenue to Aggregate Revenue Under Contract (Detail) - USD ($)	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Deferred Revenue [Abstract]
Deferred revenue (GAAP basis)	$ 24,111,992	$ 26,558,707	$ 26,533,983
Amounts under non-cancellable contracts for which the Company does not yet have the contractual right to bill at the period end	24,539,000		25,470,000
Aggregate Revenue Under Contract	$ 48,651,000		$ 52,004,000

Revenue - Summary of Amortizati

Revenue - Summary of Amortization Expense Related to Net Capitalized Commission Asset (Detail)	Mar. 31, 2018USD ($)
Revenue from Contract with Customer [Abstract]
2018 (April 1, 2018 to December 31, 2018)	$ 1,411,000
2,019	1,061,000
2,020	457,000
2,021	115,000
Total	$ 3,044,000

Intangible Assets - Summary of

Intangible Assets - Summary of Identified Intangible Assets (Detail) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (50,898,989)	$ (48,892,725)
Intangible assets, net	19,417,841	19,474,411
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	34,736,000	33,538,000
Accumulated amortization	(24,755,000)	(23,705,000)
Intangible assets, net	9,981,000	9,833,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	14,100,000	14,100,000
Accumulated amortization	(10,408,000)	(10,182,000)
Intangible assets, net	3,692,000	3,918,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	21,480,000	20,729,000
Accumulated amortization	(15,735,000)	(15,006,000)
Intangible assets, net	$ 5,745,000	$ 5,723,000

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	$ 2,006,264	$ 1,672,459
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset	1,198,000	1,248,000
Amortization expense for intangible assets	1,050,000	872,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	227,000	231,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset	751,000	880,000
Amortization expense for intangible assets	$ 729,000	$ 570,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Jan. 28, 2016	Oct. 31, 2012
Debt Instrument [Line Items]
Debt outstanding	$ 0	$ 0
Revolver [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description	LIBOR + 2.00% per annum (for LIBOR loans) or the greater of 1.00% or the bank’s prime rate minus 0.50% per annum (for base rate loans).
Unused credit facility fee	0.25%
Borrowings under revolver	$ 0	$ 0
Revolver [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description	LIBOR + 2.00% per annum (for LIBOR loans)
Spread on variable rate	2.00%
Revolver [Member] | Base Rate Loans [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description	The greater of 1.00% or the bank’s prime rate minus 0.50% per annum (for base rate loans)
Base rate	1.00%
Spread on variable rate	0.50%
2012 Revolver [Member]
Debt Instrument [Line Items]
Amount of revolving credit facility				$ 10,000,000
Expiry period of revolver	3 years
Date of expiry	Oct. 16, 2015
2012 Revolver [Member] | Extended Expiration [Member]
Debt Instrument [Line Items]
Date of expiry	Jan. 31, 2016
2016 Revolver [Member]
Debt Instrument [Line Items]
Amount of revolving credit facility			$ 20,000,000
Date of expiry	Jan. 28, 2019

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense ( benefit) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Current Federal expense		$ 19,000
Current state and local tax expense	$ 17,000	172,000
Deferred Federal tax (benefit) expense	(34,000)	(473,000)
Deferred state and local tax (benefit) expense	(27,000)	(140,000)
Income tax (benefit) expense	$ (44,000)	$ (422,000)

Income Taxes - Components of 40

Income Taxes - Components of Income Tax Expense ( benefit) (Parenthetical) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Deferred Federal alternative minimum tax ("AMT") expense (benefit)	$ 0	$ (19,000)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal corporate income tax rate	21.00%	35.00%
Net operating loss carryforwards, expiration	The Company’s Federal net operating losses that have been incurred prior to December 31, 2017 will continue to have a 20-year carryforward limitation applied and will need to be evaluated for recoverability in the future as such. Net operating losses incurred after December 31, 2017 will have an indefinite life, but usage will be limited to 80% of taxable income in any given year.
Percentage of net operating loss carryforwards, limitation	80.00%
Net deferred tax asset	$ 11,545	$ 12,072
Aggregate Federal NOL carryforwards		37,859
Federal NOLs subject to an annual limitation		5,140
Federal NOLs not subject to an annual limitation		32,719
Federal NOLs annual limitation		$ 2,779

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended		20 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Aug. 30, 2016
Equity [Abstract]
Common stock repurchase authorized				$ 5,000,000
Repurchase of common stock, shares	2,000	78,440	238,204
Repurchase of common stock, value	$ 35,622	$ 1,507,000	$ 4,601,000
Common stock repurchase, average price per share	$ 17.81		$ 19.31
Dividends declared, per share	0.19	$ 0.17
Dividends paid, per share	$ 0.19	$ 0.17
Dividend payments, amount	$ 2,216,310	$ 1,971,000

Stock Plans and Other Incenti43

Stock Plans and Other Incentives - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of the awards granted under the company's incentive plans	10 years
Non-cash compensation expense	$ 605,409	$ 534,717
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted	149,673	133,178
Vesting rights	RSUs vest one-third a year over three years
RSU [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted	148,005	131,630
Weighted average grant date fair value	$ 17.28	$ 18.67
RSU [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted	1,668	1,548
Weighted average grant date fair value	$ 20.65	$ 22.25
Number of months after the termination of service, RSUs delivered to non-employee directors	6 months
Non-cash compensation expense	$ 34,500	$ 34,500
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for incentive plans	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for incentive plans	5 years

Stock Plans and Other Incenti44

Stock Plans and Other Incentives - Option Activity and Other Plan Data (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at beginning of period, Options	245,000	530,000
Granted, Options	0	0
Exercised, Options		(252,500)
Forfeited/cancelled/expired, Options	0	0
Outstanding at end of period, Options	245,000	277,500
Options exercisable at end of period, Options	237,000	265,500
Outstanding at beginning of period, Weighted-Average Exercise Price	$ 8.88	$ 9.64
Granted, Weighted-Average Exercise Price	0	0
Exercised, Weighted-Average Exercise Price		(10.40)
Forfeited/cancelled/expired, Weighted-Average Exercise Price	0	0
Outstanding at end of period, Weighted-Average Exercise Price	8.88	8.96
Options exercisable at end of period, Weighted-Average Exercise Price	$ 8.56	$ 8.52

Stock Plans and Other Incenti45

Stock Plans and Other Incentives - Changes in RSUs (Detail) - RSU [Member] - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period	318,412	281,320
Granted	149,673	133,178
Common stock delivered	(101,127)	(88,543)
Forfeited	(2,212)	(2,810)
Outstanding at end of period	364,476	323,145
Intrinsic value	$ 7,818,000	$ 5,784,000

Stock Plans and Other Incenti46

Stock Plans and Other Incentives - Changes in RSUs (Parenthetical) (Detail) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Closing stock price	$ 21.45	$ 17.90

Earnings Per Common Share - Det

Earnings Per Common Share - Details of Computation of Earnings per Common Share, Basic and Diluted (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net (loss) income for basic calculation	$ (352,101)	$ 534,742
Adjustments to net income for the impact of dilutive securities	0	0
Net (loss) income for dilution calculation	$ (352,101)	$ 534,742
Denominator:
Weighted average common shares - basic	11,527,521	11,447,309
Effect of dilutive securities:
RSUs		135,689
Stock options		193,377
Weighted average common shares - diluted	11,527,521	11,776,375
Net (loss) income per common share:
Basic	$ (0.03)	$ 0.05
Diluted	$ (0.03)	$ 0.05

Fair Value of Financial Instr48

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Debt outstanding	$ 0	$ 0