Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 31, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001054721 | |
Entity Registrant Name | BSQUARE CORP /WA | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-27687 | |
Entity Incorporation, State or Country Code | WA | |
Entity Tax Identification Number | 91-1650880 | |
Entity Address, Address Line One | 1415 Western Ave, Suite 700 | |
Entity Address, City or Town | Seattle | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 98101 | |
City Area Code | 425 | |
Local Phone Number | 519-5900 | |
Title of 12(b) Security | Common stock, no par value | |
Trading Symbol | BSQR | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 20,357,099 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 41,030 | $ 12,623 |
Restricted cash | 337 | 337 |
Accounts receivable, net of allowance for doubtful accounts of $50 and $50 at September 30, 2021 and December 31, 2020, respectively | 5,992 | 6,177 |
Contract assets | 33 | 456 |
Prepaid expenses and other current assets | 562 | 409 |
Total current assets | 47,954 | 20,002 |
Property and equipment, net of accumulated depreciation | 705 | 322 |
Deferred tax assets | 0 | 7 |
Intangible assets, net of accumulated amortization | 0 | 71 |
Right-of-use lease asset, net | 1,660 | 1,853 |
Other non-current assets | 24 | 27 |
Total assets | 50,343 | 22,282 |
Current liabilities: | ||
Third-party software fees payable | 6,407 | 6,458 |
Accounts payable | 400 | 489 |
Paycheck Protection Program loan | 0 | 950 |
Accrued compensation | 424 | 717 |
Other accrued expenses | 147 | 216 |
Deferred revenue | 1,098 | 2,088 |
Operating lease | 354 | 344 |
Total current liabilities | 8,830 | 11,262 |
Deferred revenue, long-term | 247 | 28 |
Operating lease, long-term | 1,430 | 1,630 |
Paycheck Protection Program loan, long-term | 0 | 634 |
Shareholders' equity: | ||
Preferred stock, no par: 10,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, no par: 37,500,000 shares authorized: 20,357,099 and 13,235,038 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively | 172,318 | 139,726 |
Accumulated other comprehensive loss | (1,014) | (992) |
Accumulated deficit | (131,468) | (130,006) |
Total shareholders' equity | 39,836 | 8,728 |
Total liabilities and shareholders' equity | $ 50,343 | $ 22,282 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 50 | $ 50 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 37,500,000 | 37,500,000 |
Common stock, shares issued (in shares) | 20,357,099 | 13,235,038 |
Common stock, shares outstanding (in shares) | 20,357,099 | 13,235,038 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue: | ||||
Total revenue | $ 10,646 | $ 10,420 | $ 31,289 | $ 36,073 |
Cost of revenue: | ||||
Total cost of revenue | 9,318 | 8,530 | 27,176 | 30,552 |
Gross profit | 1,328 | 1,890 | 4,113 | 5,521 |
Operating expenses: | ||||
Selling, general and administrative | 1,786 | 1,987 | 6,209 | 6,951 |
Research and development | 408 | 41 | 941 | 222 |
Total operating expenses | 2,194 | 2,028 | 7,150 | 7,173 |
Loss from operations | (866) | (138) | (3,037) | (1,652) |
Other (loss) income, net | (29) | 2 | 1,575 | (31) |
Loss before income taxes | (895) | (136) | (1,462) | (1,683) |
Income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (895) | $ (136) | $ (1,462) | $ (1,683) |
Basic loss per share (in dollars per share) | $ (0.05) | $ (0.01) | $ (0.09) | $ (0.13) |
Diluted loss per share (in dollars per share) | $ (0.05) | $ (0.01) | $ (0.09) | $ (0.13) |
Shares used in per share calculations: | ||||
Basic (in shares) | 19,603 | 13,165 | 15,419 | 13,205 |
Diluted (in shares) | 19,603 | 13,165 | 15,419 | 13,205 |
Net loss | $ (895) | $ (136) | $ (1,462) | $ (1,683) |
Other comprehensive gain (loss) | ||||
Foreign currency translation, net of tax | 37 | 11 | (30) | (27) |
Unrealized loss on investments, net of tax | 0 | (3) | 0 | (3) |
Total other comprehensive gain (loss) | 37 | 8 | (30) | (30) |
Comprehensive loss | (858) | (128) | (1,492) | (1,713) |
Partner Solutions [Member] | ||||
Revenue: | ||||
Total revenue | 9,638 | 9,145 | 28,393 | 33,160 |
Cost of revenue: | ||||
Total cost of revenue | 8,491 | 7,402 | 24,528 | 27,502 |
Gross profit | 1,147 | 1,743 | 3,865 | 5,658 |
Edge to Cloud [Member] | ||||
Revenue: | ||||
Total revenue | 1,008 | 1,275 | 2,896 | 2,913 |
Cost of revenue: | ||||
Total cost of revenue | 827 | 1,128 | 2,648 | 3,050 |
Gross profit | $ 181 | $ 147 | $ 248 | $ (137) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||||||
Net loss | $ (895,000) | $ (136,000) | $ (1,462,000) | $ (1,683,000) | $ (9,104,000) | |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||||
Depreciation and amortization | 409,000 | 494,000 | ||||
Stock-based compensation | 596,000 | 601,000 | ||||
Gain on extinguishment of PPP loan | (1,584,000) | |||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable, net | 185,000 | 3,702,000 | ||||
Contract assets | (33,000) | 123,000 | ||||
Prepaid expenses and other assets | (33,000) | (342,000) | ||||
Third-party software fees payable | (51,000) | (1,502,000) | ||||
Accounts payable and accrued expenses | (451,000) | (314,000) | ||||
Operating lease | 3,000 | (15,000) | ||||
Deferred revenue | (771,000) | (310,000) | (304,000) | |||
Net cash (used in) provided by operating activities | (3,192,000) | 754,000 | (5,995,000) | |||
Cash flows from investing activities: | ||||||
Additions to property and equipment | (375,000) | (374,000) | ||||
Proceeds from maturities of short-term investments | 0 | 2,250,000 | ||||
Net cash (used in) provided by investing activities | (375,000) | 1,876,000 | ||||
Cash flows from financing activities: | ||||||
Proceeds from Paycheck Protection Program loan | 1,580,000 | |||||
Proceeds from sale of common stock, net of issuance fees | $ 31,936,000 | 31,936,000 | ||||
Proceeds from exercise of stock options | 68,000 | 0 | ||||
Net cash provided by financing activities | 32,004,000 | 1,580,000 | ||||
Effect of exchange rate changes on cash and cash equivalents | (30,000) | 50,000 | ||||
Net increase in cash and cash equivalents | 28,407,000 | 4,260,000 | ||||
Cash, restricted cash, and cash equivalents, beginning of period | 12,960,000 | 8,312,000 | ||||
Cash, restricted cash, and cash equivalents, end of period | $ 41,367,000 | $ 12,572,000 | $ 41,367,000 | $ 41,367,000 | $ 12,572,000 | $ 8,312,000 |
Consolidated Statement of Share
Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 13,235,038 | |||
Balance at Dec. 31, 2020 | $ 139,726 | $ (992) | $ (130,006) | $ 8,728 |
Exercise of stock options (in shares) | 37,380 | 36,130 | ||
Exercise of stock options | $ 68 | $ 68 | ||
Vesting of restricted stock awards (in shares) | 182,004 | |||
Sale of common stock (in shares) | 6,902,677 | |||
Sale of common stock | $ 31,936 | 31,936 | ||
Share-based compensation, including issuance of restricted stock | 596 | 596 | ||
Net loss | (1,462) | (1,462) | ||
Foreign currency translation, net of tax | $ (8) | (22) | (30) | |
Balance (in shares) at Sep. 30, 2021 | 20,357,099 | |||
Balance at Sep. 30, 2021 | $ 172,318 | (1,014) | (131,468) | 39,836 |
Balance (in shares) at Jun. 30, 2021 | 13,479,220 | |||
Balance at Jun. 30, 2021 | $ 140,494 | (1,035) | (130,573) | 8,886 |
Exercise of stock options (in shares) | 11,875 | |||
Exercise of stock options | $ 14 | $ 14 | ||
Vesting of restricted stock awards (in shares) | 72,206 | |||
Sale of common stock (in shares) | 6,793,798 | 6,793,798 | ||
Sale of common stock | $ 31,576 | $ 31,576 | ||
Share-based compensation, including issuance of restricted stock | 218 | 218 | ||
Net loss | (895) | (895) | ||
Foreign currency translation, net of tax | $ 16 | 21 | 37 | |
Balance (in shares) at Sep. 30, 2021 | 20,357,099 | |||
Balance at Sep. 30, 2021 | $ 172,318 | $ (1,014) | $ (131,468) | $ 39,836 |
Note 1 - Description of Busines
Note 1 - Description of Business and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Business Description and Accounting Policies [Text Block] | 1. Description of Business BSQUARE Corporation (“Bsquare,” “we,” “us” and “our”) builds technology that is powering the next generation of connected devices and intelligent systems. We help companies realize the promise of the Internet of Things ("IoT") through the development of devices and systems that are cloud-enabled, share data seamlessly, facilitate distributed learning and control, and operate securely at scale. We believe that IoT-enabled systems can not Since our founding in 1994, Our business has largely been focused on providing software solutions (including reselling software from Microsoft) and related engineering services to businesses that develop, market and sell dedicated-purpose standalone intelligent systems. Examples of dedicated-purpose standalone intelligent systems include smart, connected computing devices such as point-of-sale terminals, kiosks, tablets and handheld devices, as well as smart vending machines, ATM machines, digital signs, smart phones, set-top boxes and in-vehicle telematics and entertainment devices. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Bsquare have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting and include the accounts of Bsquare and our wholly owned subsidiaries. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the unaudited condensed consolidated financial statements include all material adjustments, all of which are of a normal and recurring nature, necessary to present fairly our financial position as of September 30, 2021 nine September 30, 2021 2020 December 31, 2020 These unaudited condensed financial statements and related notes should be read in conjunction with our audited financial statements and related notes included in our Annual Report on Form 10 December 31, 2020 March 18, 2021. Basis of consolidation The consolidated financial statements include the accounts of Bsquare and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated. Revision of prior period financial statements In connection with the preparation of our condensed consolidated financial statements, we identified an immaterial error related to the recognition of certain revenues in our Edge to Cloud segment in the third 2019 first 2021. No. 99, No. 108, not three June 30, 2021. September 31, 2019, December 31, 2019, December 31, 2020 December 31, 2019 three nine September 30, 2019. 12 Use of estimates Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Examples include provisions for bad debts and income taxes, estimates of progress on professional engineering service arrangements, bonus accruals, useful lives of intangible assets and property and equipment, fair values of stock-based awards, and assumptions used to determine the net present value of operating lease liabilities, among other estimates and assumptions. Actual results may Income (loss) per share We compute basic income (loss) per share using the weighted average number of shares of common stock outstanding during the period. We consider restricted stock units as outstanding shares of common stock and include them in the computation of basic loss per share only when vested. We compute diluted loss per share using the weighted average number of shares of common stock outstanding and common stock equivalent shares outstanding during the period using the treasury stock method. We exclude common stock equivalent shares from the computation if their effect is anti-dilutive. The following potentially dilutive weighted shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options 384,444 1,796,478 317,909 1,769,556 Restricted stock units 35,275 35,123 68,341 46,851 |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. Disaggregation of revenue The following table provides information about disaggregated revenue by primary geographical area and includes a reconciliation of the disaggregated revenue with reportable segments (in thousands): Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Partner Edge to Partner Edge to Solutions Cloud Total Solutions Cloud Total Primary geographic area: North America $ 8,294 $ 964 $ 9,258 $ 7,819 $ 1,100 $ 8,919 Europe 68 44 112 613 172 785 Asia 1,276 — 1,276 713 3 716 Total $ 9,638 $ 1,008 $ 10,646 $ 9,145 $ 1,275 $ 10,420 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Partner Edge to Partner Edge to Solutions Cloud Total Solutions Cloud Total Primary geographic area: North America $ 23,372 $ 2,695 $ 26,067 $ 28,104 $ 2,345 $ 30,449 Europe 275 201 476 1,344 475 1,819 Asia 4,746 — 4,746 3,712 93 3,805 Total $ 28,393 $ 2,896 $ 31,289 $ 33,160 $ 2,913 $ 36,073 Contract balances We receive payments from customers based upon contractual billing schedules; accounts receivable is recorded when the right to consideration becomes unconditional. Contract assets include amounts related to our contractual right to consideration for completed performance obligations not three nine September 30, 2021 2020 Significant changes in the contract assets and the deferred revenue balances during the three nine September 30, 2021 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Contract Contract Assets Assets Transferred to receivables from contract assets outstanding at December 31, 2020 — — Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Deferred Deferred Revenue Revenue Revenue recognized that was included in deferred revenue at December 31, 2020 $ 435,835 $ 1,515,077 Contract acquisition costs We capitalize contract acquisition costs for contracts with a life exceeding one three September 30, 2021 2020 57,000 nine September 30, 2021 2020, Transaction price allocated to the remaining performance obligations The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The estimated revenue does not one September 30, 2021 Remainder of 2021 2022 After 2022 Edge to Cloud 315,944 1,419,096 466,287 Practical expedients and exemptions We generally expense sales commissions when incurred because the amortization period would have been less than one When applicable and appropriate, the Company utilizes the ‘as-invoiced’ practical expedient which permits revenue recognition upon invoicing. |
Note 3 - Cash, Cash Equivalents
Note 3 - Cash, Cash Equivalents and Restricted Cash | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Short-term Investments [Text Block] | 3. Cash, cash equivalents and restricted cash consisted of the following (in thousands): September 30, 2021 December 31, 2020 Cash $ 3,925 $ 6,509 Cash equivalents (see detail in Note 4) 37,105 6,114 Restricted cash 337 337 Total cash and cash equivalents 41,367 12,960 |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4. We measure our cash equivalents and restricted cash at fair value. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Directly or indirectly observable market-based inputs or unobservable inputs used in models or other valuation methodologies. Level 3: Unobservable inputs that are not We classify our cash equivalents and restricted cash within Level 1 2 Assets measured at fair value on a recurring basis as of September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Quoted Prices in Direct or Quoted Prices in Direct or Active Markets Indirect Active Markets Indirect for Identical Observable for Identical Observable Assets (Level 1) Inputs (Level 2) Total Assets (Level 1) Inputs (Level 2) Total Assets Cash equivalents: Money market funds $ 37,105 $ — $ 37,105 $ 6,114 $ — $ 6,114 Total cash equivalents 37,105 — 37,105 6,114 — 6,114 Restricted cash: Money market funds 337 — 337 337 — 337 Total assets measured at fair value $ 37,442 $ — $ 37,442 $ 6,451 $ — $ 6,451 |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 5. Intangible assets related to customer relationships that we acquired from TestQuest, Inc. in November 2008 September 2011 September 30, 2021 December 31, 2020 Gross Gross Carrying Accumulated Net Book Carrying Accumulated Net Book Amount Amortization Value Amount Amortization Value Customer relationships $ 982 $ (982 ) $ — $ 982 $ (911 ) $ 71 Amortization expense was $22,000 and $25,000 for the three September 30, 2021 2020 September 30, 2021, |
Note 6 - Leases
Note 6 - Leases | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. We determine if an arrangement is a lease at inception. On our balance sheet, our office leases are included in right-of-use (“ROU”) lease asset, net and related lease liabilities are included in operating lease and operating lease, long-term. We determined that we do not ROU assets represent our right to use the underlying assets for the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease agreements. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the term of the lease. For leases that do not In November 2020, November 30, 2020 November 8, 2030. five November 2025. November 2025 November 9, 2020. December 31, 2020. no Our leases have remaining terms of five seven fourth 2019, not May 2020, not February 2020. not not The following tables present the components of our lease expense and supplemental cash flow information related to our leases for the nine September 30, 2021 Nine Months Ended Total component lease expense was as follows: September 30, 2021 Operating leases $ 311 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities $ 311 The following table presents supplemental balance sheet information related to our operating leases as of September 30, 2021 September 30, 2021 Right-of-use lease assets $ 1,660 Current portion of operating lease liability $ 354 Operating lease liability, net of current portion 1,430 Total operating lease liabilities $ 1,784 Weighted average remaining lease term (years) 5.4 Weighted average discount rate 8.5 % The following table presents the amounts we are obligated to pay, by maturity, under our operating leases liabilities as of September 30, 2021 Years Ending December 31, 2021, remainder of year $ 78 2022 315 2023 322 2024 329 2025 325 After 2025 440 Total minimum lease payments 1,809 Less: amount representing interest (25 ) Present value of lease liabilities $ 1,784 |
Note 7 - Shareholders' Equity
Note 7 - Shareholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 7. Equity Compensation Plans We have a stock plan (the “Stock Plan”) and an inducement stock plan for newly hired employees (together with the Stock Plan, the “Plans”). Under the Plans, stock options to purchase shares of our common stock may four may Stock-Based Compensation The estimated fair value of stock-based awards is recognized as compensation expense over the vesting period of the award, net of estimated forfeitures. We estimate forfeitures based on historical experience and expected future activities. The fair value of RSUs is determined based on the number of shares granted and the quoted price of our common stock on the date of grant. The fair value of stock option awards is estimated at the grant date based on the fair value of each vesting tranche as calculated by the Black-Scholes-Merton (“BSM”) option-pricing model. The BSM model requires various highly judgmental assumptions including expected volatility and option life. If any of the assumptions used in the BSM model change significantly, stock-based compensation expense may Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Dividend yield 0 % 0 % 0 % 0 % Expected life (years) 4.9 4.9 4.9 4.9 Expected volatility 111 % 63 % 111 % 63 % Risk-free interest rate 0.6 % 0.2 % 0.6 % 0.5 % The impact on our results of operations from stock-based compensation expense was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of revenue — Edge to Cloud $ 6 $ 26 $ 30 $ 50 Selling, general and administrative 188 250 515 536 Research and development 24 5 51 15 Total stock-based compensation expense $ 218 $ 281 $ 596 $ 601 Stock Option Activity The following table summarizes stock option activity under the Plans: Weighted Average Remaining Weighted Contractual Number of Average Life Aggregate Shares Exercise Price (in years) Intrinsic Value Balance at December 31, 2020 1,786,891 $ 2.04 7.75 $ 330,831 Granted 175,000 2.88 Exercised (36,130 ) 1.88 Forfeited (74,759 ) 1.34 Expired (62,750 ) 2.62 Balance at September 30, 2021 1,788,252 1.92 7.15 1,220,636 Vested and expected to vest at September 30, 2021 1,670,375 2.17 7.06 1,122,212 Exercisable at September 30, 2021 934,877 $ 2.58 6.10 $ 496,868 At September 30, 2021 not Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Weighted average grant-date fair value of options granted during the period $ 2.75 $ 1.37 $ 2.88 $ 1.03 Options in-the-money (in shares) 629,272 59,201 629,272 59,201 Aggregate intrinsic value of options exercised during the period $ 1.20 $ 1.35 $ 1.88 $ 1.35 The aggregate intrinsic value represents the difference between the exercise price of the underlying options and the quoted price of our common stock for the number of options exercised during the periods indicated. We issue new shares of common stock upon exercise of stock options. Restricted Stock Unit Activity The following table summarizes RSU activity under the Plans: Number of Weighted Average Shares Award Price Unvested at December 31, 2020 164,697 $ 1.48 Granted 90,343 2.72 Vested (182,004 ) 1.74 Forfeited (21,115 ) 1.48 Unvested at September 30, 2021 51,921 2.72 Expected to vest after September 30, 2021 49,112 $ 2.72 At September 30, 2021 not Performance Stock Units In January 2021 first January 5, 2022 July 5, 2025. three nine September 30, 2021, no Award Modifications In June 2021, two 718, Common Stock Reserved for Future Issuance The following table summarizes our shares of common stock reserved for future issuance under the Plans as of September 30, 2021 September 30, 2021 Stock options outstanding 1,788,252 Restricted stock units and performance stock units outstanding 551,921 Stock options and restricted stock units available for future grant 1,115,772 Common stock reserved for future issuance 3,455,945 Common Stock Sales In the second third 2021, 3 1933, March 2021. three nine September 30, 2021. |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. Lease and rent obligations Our commitments include obligations outstanding under operating leases, which expire through 2027. 6 Loss Contingencies From time to time, we are subject to legal proceedings, claims, and litigation arising in the ordinary course of business, including tax assessments. We defend ourselves vigorously against any such claims. When (i) it is probable that an asset has been impaired or a liability has been incurred and (ii) the amount of the loss can be reasonably estimated, we record the estimated loss. We provide disclosure in the notes to the consolidated financial statements for loss contingencies that do not may September 30, 2021, not |
Note 9 - Information About Geog
Note 9 - Information About Geographic Areas and Operating Segments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 9. Our chief operating decision-makers (i.e. our Chief Executive Officer and certain direct reports) review financial information presented on a consolidated basis, accompanied by disaggregated information for purposes of allocating resources and evaluating financial performance. There are no We have two major product lines, Partner Solutions and Edge to Cloud, each of which we consider to be operating and reportable segments. We do not not Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Partner Solutions: Revenue $ 9,638 $ 9,145 $ 28,393 $ 33,160 Cost of revenue 8,491 7,402 24,528 27,502 Gross profit 1,147 1,743 3,865 5,658 Edge to Cloud: Revenue 1,008 1,275 2,896 2,913 Cost of revenue 827 1,128 2,648 3,050 Gross profit 181 147 248 (137 ) Total gross profit 1,328 1,890 4,113 5,521 Operating expenses 2,194 2,028 7,150 7,173 Other (expense) income, net (29 ) 2 1,575 (31 ) Income tax benefit (expense) — — — — Net loss $ (895 ) $ (136 ) $ (1,462 ) $ (1,683 ) Revenue by geographic area is based on the sales region of the customer. The following tables set forth total revenue and long-lived assets by geographic area (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Total revenue: North America $ 9,258 $ 8,919 $ 26,067 $ 30,449 Europe 112 785 476 1,819 Asia 1,276 716 4,746 3,805 Total revenue $ 10,646 $ 10,420 $ 31,289 $ 36,073 September 30, 2021 December 31, 2020 Long-lived assets: North America $ 1,780 $ 1,179 Europe 176 179 Total long-lived assets $ 1,956 $ 1,358 Long-lived assets increased due to additions of internally developed software throughout the year in North America. |
Note 10 - Significant Risk Conc
Note 10 - Significant Risk Concentrations | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 10. Significant Customers GES Manufacturing Services (M) Sdn. Bhd. accounted for $1.1 million or approximately 11% of our total revenue for the three September 30, 2021. No 10% three September 30, 2020 nine September 30, 2021 2020. GES Manufacturing Services (M) Sdn. Bhd. had accounts receivable balances of $958,000 or approximately 16% of our total accounts receivable at September 30, 2021. December 31, 2020. December 31, 2020. Significant Supplier We are authorized to sell Windows IoT operating systems in Canada, the United States, Argentina, Brazil, Chile, Mexico, Peru, Venezuela, Puerto Rico, Columbia, and several Caribbean countries. Our distribution agreement for sales of Windows IoT operating systems in the European Union (“E.U.”), the European Free Trade Association, Turkey and Africa, expired on June 30, 2019 not We have also entered into Original Equipment Manufacturer Distribution Agreements ("ODAs") with Microsoft pursuant to which we are licensed to sell Microsoft Windows Mobile operating systems to customers in North America, South America, Central America (excluding Cuba), Japan, Taiwan, Europe, the Middle East, and Africa. The ODAs to sell Windows Mobile operating systems are effective through April 30, 2022. There is no The majority of our revenue continues to be derived from reselling Microsoft Windows Embedded and IoT operating system software to device makers. The sale of Microsoft operating systems has historically accounted for substantially all of our Partner Solutions revenue. Microsoft currently offers a distributor incentives program through which we earn rebates pursuant to predefined objectives related to sales of Microsoft Windows IoT operating systems. In accordance with program rules, we allocate a portion of the incentive earnings to reduce cost of revenue with the remaining portion utilized to offset qualified marketing expenses in the period the expenditures are claimed and approved. During the second 2020 50/50 two Under this rebate program, we recorded rebate credits as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Reductions to cost of revenue $ 26 $ 500 $ 236 $ 654 Reductions to marketing expense 110 123 287 1,026 |
Note 11 - Paycheck Protection P
Note 11 - Paycheck Protection Program (PPP) Loan | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. We obtained a $1.6 million loan (the "PPP Loan") from JPMorgan Chase Bank, N.A. (the “Lender”) under the Paycheck Protection Program ("PPP") on April 7, 2020 ( two 0.98% eight 24 April 2021, June 2021, nine September 30, 2021, nine September 30, 2021. At September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 PPP Loan, .98%, due April 2022: Principal $ — $ 1,572 Accrued interest — 12 $ — $ 1,584 PPP Loan payable: Current portion $ — 950 Long-term portion — 634 $ — $ 1,584 |
Note 12 - Revision of Prior Per
Note 12 - Revision of Prior Period Financial Statements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Error Correction [Text Block] | 12. We revised certain prior period financial statements due to a $77,000 error related to the recognition of certain revenues in our Edge to Cloud segment. The error occurred in the third 2019 first 2021. 1 Revised Consolidated Balance Sheets As of December 31, 2019 As reported Adjustment As revised Deferred revenue, current portion $ 1,559 $ (77 ) $ 1,482 Total current liabilities 11,200 (77 ) 11,123 Accumulated deficit (128,194 ) 77 (128,117 ) Total shareholders' equity 9,696 77 9,773 As of December 31, 2020 As reported Adjustment As revised Deferred revenue, current portion $ 2,165 $ (77 ) $ 2,088 Total current liabilities 11,339 (77 ) 11,262 Accumulated deficit (130,083 ) 77 (130,006 ) Total shareholders' equity 8,651 77 8,728 Revised Consolidated Statement of Shareholders Equity Year Ended December 31, 2019 As reported Adjustment As revised Net loss $ (9,181 ) $ 77 $ (9,104 ) Accumulated deficit (128,194 ) 77 (128,117 ) Three Months Ended September 30, 2019 As reported Adjustment As revised Net loss $ (1,107 ) $ 77 $ (1,030 ) Accumulated deficit (126,834 ) 77 (126,757 ) Nine Months Ended September 30, 2019 As reported Adjustment As revised Net loss $ (7,821 ) $ 77 $ (7,744 ) Accumulated deficit (126,834 ) 77 (126,757 ) Year Ended December 31, 2020 As reported Adjustment As revised Accumulated deficit $ (130,083 ) $ 77 $ (130,006 ) Revised Condensed Consolidated Statements of Operations and Comprehensive Loss Year Ended As of December 31, 2019 As reported Adjustment As revised Edge to Cloud revenue $ 8,655 $ 77 $ 8,732 Total revenue 59,283 77 59,360 Gross profit 10,096 77 10,173 Loss from operations (9,314 ) 77 (9,237 ) Loss before income taxes (9,165 ) 77 (9,088 ) Net loss (9,181 ) 77 (9,104 ) Basic loss per share (0.71 ) — (0.71 ) Diluted loss per share (0.71 ) — (0.71 ) Comprehensive loss (9,242 ) 77 (9,165 ) Three Months Ended September 30, 2019 As reported Adjustment As revised Edge to Cloud revenue $ 2,085 $ 77 $ 2,162 Total revenue 14,641 77 14,718 Gross profit 2,632 77 2,709 Loss from operations (1,129 ) 77 (1,052 ) Loss before income taxes (1,107 ) 77 (1,030 ) Net loss (1,107 ) 77 (1,030 ) Basic loss per share (0.09 ) 0.01 (0.08 ) Diluted loss per share (0.09 ) 0.01 (0.08 ) Comprehensive loss (1,111 ) 77 (1,034 ) Nine Months Ended September 30, 2019 As reported Adjustment As revised Edge to Cloud revenue $ 6,576 $ 77 $ 6,653 Total revenue 43,917 77 43,994 Gross profit 7,446 77 7,523 Loss from operations (7,937 ) 77 (7,860 ) Loss before income taxes (7,821 ) 77 (7,744 ) Net loss (7,821 ) 77 (7,744 ) Basic loss per share (0.60 ) — (0.60 ) Diluted loss per share (0.60 ) — (0.60 ) Comprehensive loss (7,899 ) 77 (7,822 ) Revised Condensed Consolidated Statements of Cash Flows We revised our condensed consolidated statements of cash flows for the year ended December 31, 2019 nine September 31, 2019 no Year Ended December 31, 2019 As reported Adjustment As revised Cash flows from operating activities: Net loss $ (9,181 ) $ 77 $ (9,104 ) Deferred revenue (227 ) (77 ) (304 ) Net cash used by operating activities (5,995 ) — (5,995 ) Nine Months Ended September 30, 2019 As reported Adjustment As revised Cash flows from operating activities: Net loss $ (7,821 ) $ 77 $ (7,744 ) Deferred revenue (48 ) (77 ) (125 ) Net cash used in operating activities (4,994 ) — (4,994 ) Revised Segment Information Edge to Cloud revenue and gross profit were impacted for each of the applicable prior periods by the same amount as consolidated revenue and gross profit for the respective periods. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Description of Business [Policy Text Block] | Description of Business BSQUARE Corporation (“Bsquare,” “we,” “us” and “our”) builds technology that is powering the next generation of connected devices and intelligent systems. We help companies realize the promise of the Internet of Things ("IoT") through the development of devices and systems that are cloud-enabled, share data seamlessly, facilitate distributed learning and control, and operate securely at scale. We believe that IoT-enabled systems can not Since our founding in 1994, Our business has largely been focused on providing software solutions (including reselling software from Microsoft) and related engineering services to businesses that develop, market and sell dedicated-purpose standalone intelligent systems. Examples of dedicated-purpose standalone intelligent systems include smart, connected computing devices such as point-of-sale terminals, kiosks, tablets and handheld devices, as well as smart vending machines, ATM machines, digital signs, smart phones, set-top boxes and in-vehicle telematics and entertainment devices. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Bsquare have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting and include the accounts of Bsquare and our wholly owned subsidiaries. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the unaudited condensed consolidated financial statements include all material adjustments, all of which are of a normal and recurring nature, necessary to present fairly our financial position as of September 30, 2021 nine September 30, 2021 2020 December 31, 2020 These unaudited condensed financial statements and related notes should be read in conjunction with our audited financial statements and related notes included in our Annual Report on Form 10 December 31, 2020 March 18, 2021. |
Consolidation, Policy [Policy Text Block] | Basis of consolidation The consolidated financial statements include the accounts of Bsquare and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Examples include provisions for bad debts and income taxes, estimates of progress on professional engineering service arrangements, bonus accruals, useful lives of intangible assets and property and equipment, fair values of stock-based awards, and assumptions used to determine the net present value of operating lease liabilities, among other estimates and assumptions. Actual results may |
Earnings Per Share, Policy [Policy Text Block] | Income (loss) per share We compute basic income (loss) per share using the weighted average number of shares of common stock outstanding during the period. We consider restricted stock units as outstanding shares of common stock and include them in the computation of basic loss per share only when vested. We compute diluted loss per share using the weighted average number of shares of common stock outstanding and common stock equivalent shares outstanding during the period using the treasury stock method. We exclude common stock equivalent shares from the computation if their effect is anti-dilutive. The following potentially dilutive weighted shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options 384,444 1,796,478 317,909 1,769,556 Restricted stock units 35,275 35,123 68,341 46,851 |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options 384,444 1,796,478 317,909 1,769,556 Restricted stock units 35,275 35,123 68,341 46,851 |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Partner Edge to Partner Edge to Solutions Cloud Total Solutions Cloud Total Primary geographic area: North America $ 8,294 $ 964 $ 9,258 $ 7,819 $ 1,100 $ 8,919 Europe 68 44 112 613 172 785 Asia 1,276 — 1,276 713 3 716 Total $ 9,638 $ 1,008 $ 10,646 $ 9,145 $ 1,275 $ 10,420 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Partner Edge to Partner Edge to Solutions Cloud Total Solutions Cloud Total Primary geographic area: North America $ 23,372 $ 2,695 $ 26,067 $ 28,104 $ 2,345 $ 30,449 Europe 275 201 476 1,344 475 1,819 Asia 4,746 — 4,746 3,712 93 3,805 Total $ 28,393 $ 2,896 $ 31,289 $ 33,160 $ 2,913 $ 36,073 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Contract Contract Assets Assets Transferred to receivables from contract assets outstanding at December 31, 2020 — — Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Deferred Deferred Revenue Revenue Revenue recognized that was included in deferred revenue at December 31, 2020 $ 435,835 $ 1,515,077 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2021 2022 After 2022 Edge to Cloud 315,944 1,419,096 466,287 |
Note 3 - Cash, Cash Equivalen_2
Note 3 - Cash, Cash Equivalents and Restricted Cash (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Cash, Cash Equivalents and Investments [Table Text Block] | September 30, 2021 December 31, 2020 Cash $ 3,925 $ 6,509 Cash equivalents (see detail in Note 4) 37,105 6,114 Restricted cash 337 337 Total cash and cash equivalents 41,367 12,960 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 2021 December 31, 2020 Quoted Prices in Direct or Quoted Prices in Direct or Active Markets Indirect Active Markets Indirect for Identical Observable for Identical Observable Assets (Level 1) Inputs (Level 2) Total Assets (Level 1) Inputs (Level 2) Total Assets Cash equivalents: Money market funds $ 37,105 $ — $ 37,105 $ 6,114 $ — $ 6,114 Total cash equivalents 37,105 — 37,105 6,114 — 6,114 Restricted cash: Money market funds 337 — 337 337 — 337 Total assets measured at fair value $ 37,442 $ — $ 37,442 $ 6,451 $ — $ 6,451 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | September 30, 2021 December 31, 2020 Gross Gross Carrying Accumulated Net Book Carrying Accumulated Net Book Amount Amortization Value Amount Amortization Value Customer relationships $ 982 $ (982 ) $ — $ 982 $ (911 ) $ 71 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Nine Months Ended Total component lease expense was as follows: September 30, 2021 Operating leases $ 311 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities $ 311 |
Lessee, Operating Leases, Supplemental Balance Sheet Information [Table Text Block] | September 30, 2021 Right-of-use lease assets $ 1,660 Current portion of operating lease liability $ 354 Operating lease liability, net of current portion 1,430 Total operating lease liabilities $ 1,784 Weighted average remaining lease term (years) 5.4 Weighted average discount rate 8.5 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Years Ending December 31, 2021, remainder of year $ 78 2022 315 2023 322 2024 329 2025 325 After 2025 440 Total minimum lease payments 1,809 Less: amount representing interest (25 ) Present value of lease liabilities $ 1,784 |
Note 7 - Shareholders' Equity (
Note 7 - Shareholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Dividend yield 0 % 0 % 0 % 0 % Expected life (years) 4.9 4.9 4.9 4.9 Expected volatility 111 % 63 % 111 % 63 % Risk-free interest rate 0.6 % 0.2 % 0.6 % 0.5 % |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of revenue — Edge to Cloud $ 6 $ 26 $ 30 $ 50 Selling, general and administrative 188 250 515 536 Research and development 24 5 51 15 Total stock-based compensation expense $ 218 $ 281 $ 596 $ 601 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Remaining Weighted Contractual Number of Average Life Aggregate Shares Exercise Price (in years) Intrinsic Value Balance at December 31, 2020 1,786,891 $ 2.04 7.75 $ 330,831 Granted 175,000 2.88 Exercised (36,130 ) 1.88 Forfeited (74,759 ) 1.34 Expired (62,750 ) 2.62 Balance at September 30, 2021 1,788,252 1.92 7.15 1,220,636 Vested and expected to vest at September 30, 2021 1,670,375 2.17 7.06 1,122,212 Exercisable at September 30, 2021 934,877 $ 2.58 6.10 $ 496,868 |
Schedule of Share Based Compensation Additional Stock Options Activity [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Weighted average grant-date fair value of options granted during the period $ 2.75 $ 1.37 $ 2.88 $ 1.03 Options in-the-money (in shares) 629,272 59,201 629,272 59,201 Aggregate intrinsic value of options exercised during the period $ 1.20 $ 1.35 $ 1.88 $ 1.35 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of Weighted Average Shares Award Price Unvested at December 31, 2020 164,697 $ 1.48 Granted 90,343 2.72 Vested (182,004 ) 1.74 Forfeited (21,115 ) 1.48 Unvested at September 30, 2021 51,921 2.72 Expected to vest after September 30, 2021 49,112 $ 2.72 |
Schedule of Common Stock Reserved For Future Issuance [Table Text Block] | September 30, 2021 Stock options outstanding 1,788,252 Restricted stock units and performance stock units outstanding 551,921 Stock options and restricted stock units available for future grant 1,115,772 Common stock reserved for future issuance 3,455,945 |
Note 9 - Information About Ge_2
Note 9 - Information About Geographic Areas and Operating Segments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Partner Solutions: Revenue $ 9,638 $ 9,145 $ 28,393 $ 33,160 Cost of revenue 8,491 7,402 24,528 27,502 Gross profit 1,147 1,743 3,865 5,658 Edge to Cloud: Revenue 1,008 1,275 2,896 2,913 Cost of revenue 827 1,128 2,648 3,050 Gross profit 181 147 248 (137 ) Total gross profit 1,328 1,890 4,113 5,521 Operating expenses 2,194 2,028 7,150 7,173 Other (expense) income, net (29 ) 2 1,575 (31 ) Income tax benefit (expense) — — — — Net loss $ (895 ) $ (136 ) $ (1,462 ) $ (1,683 ) |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Total revenue: North America $ 9,258 $ 8,919 $ 26,067 $ 30,449 Europe 112 785 476 1,819 Asia 1,276 716 4,746 3,805 Total revenue $ 10,646 $ 10,420 $ 31,289 $ 36,073 September 30, 2021 December 31, 2020 Long-lived assets: North America $ 1,780 $ 1,179 Europe 176 179 Total long-lived assets $ 1,956 $ 1,358 |
Note 10 - Significant Risk Co_2
Note 10 - Significant Risk Concentrations (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Rebate Credit [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Reductions to cost of revenue $ 26 $ 500 $ 236 $ 654 Reductions to marketing expense 110 123 287 1,026 |
Note 11 - Paycheck Protection_2
Note 11 - Paycheck Protection Program (PPP) Loan (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, 2021 December 31, 2020 PPP Loan, .98%, due April 2022: Principal $ — $ 1,572 Accrued interest — 12 $ — $ 1,584 PPP Loan payable: Current portion $ — 950 Long-term portion — 634 $ — $ 1,584 |
Note 12 - Revision of Prior P_2
Note 12 - Revision of Prior Period Financial Statements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As of December 31, 2019 As reported Adjustment As revised Deferred revenue, current portion $ 1,559 $ (77 ) $ 1,482 Total current liabilities 11,200 (77 ) 11,123 Accumulated deficit (128,194 ) 77 (128,117 ) Total shareholders' equity 9,696 77 9,773 As of December 31, 2020 As reported Adjustment As revised Deferred revenue, current portion $ 2,165 $ (77 ) $ 2,088 Total current liabilities 11,339 (77 ) 11,262 Accumulated deficit (130,083 ) 77 (130,006 ) Total shareholders' equity 8,651 77 8,728 Year Ended December 31, 2019 As reported Adjustment As revised Net loss $ (9,181 ) $ 77 $ (9,104 ) Accumulated deficit (128,194 ) 77 (128,117 ) Three Months Ended September 30, 2019 As reported Adjustment As revised Net loss $ (1,107 ) $ 77 $ (1,030 ) Accumulated deficit (126,834 ) 77 (126,757 ) Nine Months Ended September 30, 2019 As reported Adjustment As revised Net loss $ (7,821 ) $ 77 $ (7,744 ) Accumulated deficit (126,834 ) 77 (126,757 ) Year Ended December 31, 2020 As reported Adjustment As revised Accumulated deficit $ (130,083 ) $ 77 $ (130,006 ) Year Ended As of December 31, 2019 As reported Adjustment As revised Edge to Cloud revenue $ 8,655 $ 77 $ 8,732 Total revenue 59,283 77 59,360 Gross profit 10,096 77 10,173 Loss from operations (9,314 ) 77 (9,237 ) Loss before income taxes (9,165 ) 77 (9,088 ) Net loss (9,181 ) 77 (9,104 ) Basic loss per share (0.71 ) — (0.71 ) Diluted loss per share (0.71 ) — (0.71 ) Comprehensive loss (9,242 ) 77 (9,165 ) Three Months Ended September 30, 2019 As reported Adjustment As revised Edge to Cloud revenue $ 2,085 $ 77 $ 2,162 Total revenue 14,641 77 14,718 Gross profit 2,632 77 2,709 Loss from operations (1,129 ) 77 (1,052 ) Loss before income taxes (1,107 ) 77 (1,030 ) Net loss (1,107 ) 77 (1,030 ) Basic loss per share (0.09 ) 0.01 (0.08 ) Diluted loss per share (0.09 ) 0.01 (0.08 ) Comprehensive loss (1,111 ) 77 (1,034 ) Nine Months Ended September 30, 2019 As reported Adjustment As revised Edge to Cloud revenue $ 6,576 $ 77 $ 6,653 Total revenue 43,917 77 43,994 Gross profit 7,446 77 7,523 Loss from operations (7,937 ) 77 (7,860 ) Loss before income taxes (7,821 ) 77 (7,744 ) Net loss (7,821 ) 77 (7,744 ) Basic loss per share (0.60 ) — (0.60 ) Diluted loss per share (0.60 ) — (0.60 ) Comprehensive loss (7,899 ) 77 (7,822 ) Year Ended December 31, 2019 As reported Adjustment As revised Cash flows from operating activities: Net loss $ (9,181 ) $ 77 $ (9,104 ) Deferred revenue (227 ) (77 ) (304 ) Net cash used by operating activities (5,995 ) — (5,995 ) Nine Months Ended September 30, 2019 As reported Adjustment As revised Cash flows from operating activities: Net loss $ (7,821 ) $ 77 $ (7,744 ) Deferred revenue (48 ) (77 ) (125 ) Net cash used in operating activities (4,994 ) — (4,994 ) |
Note 1 - Description of Busin_3
Note 1 - Description of Business and Summary of Significant Accounting Policies - Potentially Dilutive Shares Excluded From Calculation of Diluted Net Loss Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Payment Arrangement, Option [Member] | ||||
Stock options (in shares) | 384,444 | 1,796,478 | 317,909 | 1,769,556 |
Restricted stock units (in shares) | 384,444 | 1,796,478 | 317,909 | 1,769,556 |
Restricted Stock Units (RSUs) [Member] | ||||
Stock options (in shares) | 35,275 | 35,123 | 68,341 | 46,851 |
Restricted stock units (in shares) | 35,275 | 35,123 | 68,341 | 46,851 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Contract with Customer, Asset, Credit Loss Expense (Reversal) | $ 0 | $ 0 | $ 0 | $ 0 |
Capitalized Contract Cost, Amortization | 4,000 | 23,000 | 57,000 | 68,000 |
Capitalized Contract Cost, Impairment Loss | $ 0 | $ 0 | $ 0 | $ 0 |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Total revenue | $ 10,646 | $ 10,420 | $ 14,718 | $ 31,289 | $ 36,073 | $ 43,994 | $ 59,360 |
North America [Member] | |||||||
Total revenue | 9,258 | 8,919 | 26,067 | 30,449 | |||
Europe [Member] | |||||||
Total revenue | 112 | 785 | 476 | 1,819 | |||
Asia [Member] | |||||||
Total revenue | 1,276 | 716 | 4,746 | 3,805 | |||
Partner Solutions [Member] | |||||||
Total revenue | 9,638 | 9,145 | 28,393 | 33,160 | |||
Partner Solutions [Member] | North America [Member] | |||||||
Total revenue | 8,294 | 7,819 | 23,372 | 28,104 | |||
Partner Solutions [Member] | Europe [Member] | |||||||
Total revenue | 68 | 613 | 275 | 1,344 | |||
Partner Solutions [Member] | Asia [Member] | |||||||
Total revenue | 1,276 | 713 | 4,746 | 3,712 | |||
Edge to Cloud [Member] | |||||||
Total revenue | 1,008 | 1,275 | $ 2,162 | 2,896 | 2,913 | $ 6,653 | $ 8,732 |
Edge to Cloud [Member] | North America [Member] | |||||||
Total revenue | 964 | 1,100 | 2,695 | 2,345 | |||
Edge to Cloud [Member] | Europe [Member] | |||||||
Total revenue | 44 | 172 | 201 | 475 | |||
Edge to Cloud [Member] | Asia [Member] | |||||||
Total revenue | $ 0 | $ 3 | $ 0 | $ 93 |
Note 2 - Revenue Recognition _2
Note 2 - Revenue Recognition - Significant Changes in Contract Assets and Deferred Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | |
Transferred to receivables from contract assets | $ 0 | $ 0 |
Revenue recognized that was included in deferred revenue | $ 435,835 | $ 1,515,077 |
Note 2 - Revenue Recognition _3
Note 2 - Revenue Recognition - Transaction Price Allocated to the Remaining Performance Obligations 2 (Details) - Edge to Cloud [Member] $ in Thousands | Sep. 30, 2021USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | |
Remaining Performance Obligation | $ 315,944 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Remaining Performance Obligation | 1,419,096 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Remaining Performance Obligation | $ 466,287 |
Note 2 - Revenue Recognition _4
Note 2 - Revenue Recognition - Transaction Price Allocated to the Remaining Performance Obligations (Details) (Parentheticals) - Edge to Cloud [Member] | Sep. 30, 2021 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | |
Remaining Performance Obligation, Period (Year) | 3 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Remaining Performance Obligation, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Remaining Performance Obligation, Period (Year) | 1 year |
Note 3 - Cash, Cash Equivalen_3
Note 3 - Cash, Cash Equivalents and Restricted Cash - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Cash | $ 3,925 | $ 6,509 |
Cash equivalents (see detail in Note 4) | 37,105 | 6,114 |
Restricted cash | 337 | 337 |
Total cash and cash equivalents | $ 41,367 | $ 12,960 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Total cash equivalents | $ 37,105 | $ 6,114 |
Restricted cash | 337 | 337 |
Total assets measured at fair value | 37,442 | 6,451 |
Money Market Funds [Member] | ||
Total cash equivalents | 37,105 | 6,114 |
Fair Value, Inputs, Level 1 [Member] | ||
Total cash equivalents | 37,105 | 6,114 |
Restricted cash | 337 | 337 |
Total assets measured at fair value | 37,442 | 6,451 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Total cash equivalents | 37,105 | 6,114 |
Fair Value, Inputs, Level 2 [Member] | ||
Total cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Total assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Total cash equivalents | $ 0 | $ 0 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Amortization of Intangible Assets, Total | $ 22,000 | $ 25,000 |
Note 5 - Intangible Assets - In
Note 5 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Intangible assets, net of accumulated amortization | $ 0 | $ 71 |
Customer Relationships [Member] | ||
Customer relationships, gross carrying amount | 982 | 982 |
Customer relationships, accumulated amortization | (982) | (911) |
Intangible assets, net of accumulated amortization | $ 0 | $ 71 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | Nov. 09, 2020 | Sep. 30, 2021 | Dec. 31, 2020 |
Operating Lease, Right-of-Use Asset | $ 1,660,000 | $ 1,853,000 | |
Operating Lease, Liability, Total | $ 1,784,000 | ||
Minimum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 5 years | ||
Maximum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 7 years | ||
Office Facility in the UK [Member] | |||
Lessee, Operating Lease, Renewal Term (Month) | 120 months | ||
Lessee Operating Lease, Termination Option Term (Year) | 5 years | ||
Operating Lease, Right-of-Use Asset | $ 365,559 |
Note 6 - Leases - Components of
Note 6 - Leases - Components of Lease Expense and Supplemental Cash Flow Information (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Operating leases | $ 311 |
Cash paid for amounts included in the measurement of lease liabilities | $ 311 |
Note 6 - Leases - Supplemental
Note 6 - Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Operating Lease, Right-of-Use Asset | $ 1,660 | $ 1,853 |
Current portion of operating lease liability | 354 | 344 |
Operating lease liability, net of current portion | 1,430 | $ 1,630 |
Total operating lease liabilities | $ 1,784 | |
Weighted average remaining lease term (years) (Year) | 5 years 4 months 24 days | |
Weighted average discount rate | 8.50% |
Note 6 - Leases - Amounts Oblig
Note 6 - Leases - Amounts Obligated to Pay, by Maturity, Under Operating Leases Liabilities (Details) $ in Thousands | Sep. 30, 2021USD ($) |
2021, remainder of year | $ 78 |
2022 | 315 |
2023 | 322 |
2024 | 329 |
2025 | 325 |
After 2025 | 440 |
Total minimum lease payments | 1,809 |
Less: amount representing interest | (25) |
Operating Lease, Liability, Total | $ 1,784 |
Note 7 - Shareholders' Equity_2
Note 7 - Shareholders' Equity (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||
Jun. 30, 2021 | Jan. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Payment Arrangement, Expense | $ 218,000 | $ 281,000 | $ 596,000 | $ 601,000 | |||||
Share-based Payment Arrangement, Plan Modification, Incremental Cost | $ 41,000 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 6,793,798 | 108,879 | |||||||
Proceeds from Issuance of Common Stock | $ 31,936,000 | 31,936,000 | |||||||
Payments of Stock Issuance Costs | 1,157,000 | ||||||||
Selling, General and Administrative Expenses [Member] | |||||||||
Share-based Payment Arrangement, Expense | $ 188,000 | $ 250,000 | 515,000 | $ 536,000 | |||||
Share-based Payment Arrangement, Option [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | 393,969 | 393,969 | $ 393,969 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 2 months 12 days | ||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 4 months 24 days | ||||||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | 78,656 | $ 78,656 | $ 78,656 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 90,343 | ||||||||
Performance Stock Units [Member] | Selling, General and Administrative Expenses [Member] | |||||||||
Share-based Payment Arrangement, Expense | $ 17,000 | $ 51,000 | |||||||
Performance Stock Units [Member] | Executive Officer [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 500,000 |
Note 7 - Shareholders' Equity -
Note 7 - Shareholders' Equity - Weighted Average Assumptions of Stock Options (Details) - Share-based Payment Arrangement, Option [Member] | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Expected life (years) (Year) | 4 years 10 months 24 days | 4 years 10 months 24 days | 4 years 10 months 24 days | 4 years 10 months 24 days |
Expected volatility | 111.00% | 63.00% | 111.00% | 63.00% |
Risk-free interest rate | 0.60% | 0.20% | 0.60% | 0.50% |
Note 7 - Shareholders' Equity_3
Note 7 - Shareholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Total stock-based compensation expense | $ 218 | $ 281 | $ 596 | $ 601 |
Cost of Sales [Member] | Edge to Cloud [Member] | ||||
Total stock-based compensation expense | 6 | 26 | 30 | 50 |
Selling, General and Administrative Expenses [Member] | ||||
Total stock-based compensation expense | 188 | 250 | 515 | 536 |
Research and Development Expense [Member] | ||||
Total stock-based compensation expense | $ 24 | $ 5 | $ 51 | $ 15 |
Note 7 - Shareholders' Equity_4
Note 7 - Shareholders' Equity - Stock Option Activity (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | |
Balance, number of shares (in shares) | shares | 1,786,891 | |
Balance, weighted average exercise price (in dollars per share) | $ / shares | $ 2.04 | |
Balance, weighted average remaining contractual life (Year) | 7 years 1 month 24 days | 7 years 9 months |
Balance, aggregate intrinsic value | $ | $ 1,220,636 | $ 330,831 |
Granted, number of shares (in shares) | shares | 175,000 | |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 2.88 | |
Exercised, number of shares (in shares) | shares | (36,130) | |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 1.88 | |
Forfeited, number of shares (in shares) | shares | (74,759) | |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 1.34 | |
Expired, number of shares (in shares) | shares | (62,750) | |
Expired, weighted average exercise price (in dollars per share) | $ / shares | $ 2.62 | |
Balance, number of shares (in shares) | shares | 1,788,252 | 1,786,891 |
Balance, weighted average exercise price (in dollars per share) | $ / shares | $ 1.92 | $ 2.04 |
Vested and expected to vest, number of shares (in shares) | shares | 1,670,375 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 2.17 | |
Vested and expected to vest, weighted average remaining contractual life (Year) | 7 years 21 days | |
Vested and expected to vest, aggregate intrinsic value | $ | $ 1,122,212 | |
Exercisable, number of shares (in shares) | shares | 934,877 | |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 2.58 | |
Exercisable, weighted average remaining contractual life (Year) | 6 years 1 month 6 days | |
Exercisable, aggregate intrinsic value | $ | $ 496,868 |
Note 7 - Shareholders' Equity_5
Note 7 - Shareholders' Equity - Summary of Certain Additional Information about Stock Options (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Weighted average grant-date fair value of options granted during the period (in dollars per share) | $ 2.75 | $ 1.37 | $ 2.88 | $ 1.03 |
Options in-the-money (in shares) (in shares) | 629,272 | 59,201 | 629,272 | 59,201 |
Aggregate intrinsic value of options exercised during the period | $ 1,200 | $ 1,350 | $ 1,880 | $ 1,350 |
Note 7 - Shareholders' Equity_6
Note 7 - Shareholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] | 9 Months Ended |
Sep. 30, 2021$ / sharesshares | |
Unvested, number of shares (in shares) | shares | 164,697 |
Unvested, weighted average award price (in dollars per share) | $ / shares | $ 1.48 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 90,343 |
Granted, weighted average award price (in dollars per share) | $ / shares | $ 2.72 |
Vested, number of shares (in shares) | shares | (182,004) |
Vested, weighted average award price (in dollars per share) | $ / shares | $ 1.74 |
Forfeited, number of shares (in shares) | shares | (21,115) |
Forfeited, weighted average award price (in dollars per share) | $ / shares | $ 1.48 |
Unvested, number of shares (in shares) | shares | 51,921 |
Unvested, weighted average award price (in dollars per share) | $ / shares | $ 2.72 |
Expected to vest, number of shares (in shares) | shares | 49,112 |
Expected to vest, weighted average award price (in dollars per share) | $ / shares | $ 2.72 |
Note 7 - Shareholders' Equity_7
Note 7 - Shareholders' Equity - Common Stock Reserved for Future Issuance (Details) - shares | Sep. 30, 2021 | Dec. 31, 2020 |
Stock options outstanding (in shares) | 1,788,252 | 1,786,891 |
Stock options and restricted stock units available for future grant (in shares) | 1,115,772 | |
Common stock reserved for future issuance (in shares) | 3,455,945 | |
Restricted Stock Units and Performance Stock Units [Member] | ||
Restricted stock units and performance stock units outstanding (in shares) | 551,921 |
Note 9 - Information About Ge_3
Note 9 - Information About Geographic Areas and Operating Segments (Details Textual) | 9 Months Ended |
Sep. 30, 2021 | |
Number of Operating Segments | 2 |
Number of Reportable Segments | 2 |
Note 9 - Information About Ge_4
Note 9 - Information About Geographic Areas and Operating Segments - Profit and Loss Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Revenue | $ 10,646 | $ 10,420 | $ 14,718 | $ 31,289 | $ 36,073 | $ 43,994 | $ 59,360 |
Cost of revenue | 9,318 | 8,530 | 27,176 | 30,552 | |||
Gross profit | 1,328 | 1,890 | 2,709 | 4,113 | 5,521 | 7,523 | 10,173 |
Operating expenses | 2,194 | 2,028 | 7,150 | 7,173 | |||
Other (loss) income, net | (29) | 2 | 1,575 | (31) | |||
Income taxes | 0 | 0 | 0 | 0 | |||
Net loss | (895) | (136) | (1,030) | (1,462) | (1,683) | (7,744) | (9,104) |
Partner Solutions [Member] | |||||||
Revenue | 9,638 | 9,145 | 28,393 | 33,160 | |||
Cost of revenue | 8,491 | 7,402 | 24,528 | 27,502 | |||
Gross profit | 1,147 | 1,743 | 3,865 | 5,658 | |||
Edge to Cloud [Member] | |||||||
Revenue | 1,008 | 1,275 | $ 2,162 | 2,896 | 2,913 | $ 6,653 | $ 8,732 |
Cost of revenue | 827 | 1,128 | 2,648 | 3,050 | |||
Gross profit | $ 181 | $ 147 | $ 248 | $ (137) |
Note 9 - Information About Ge_5
Note 9 - Information About Geographic Areas and Operating Segments - Revenue and Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2020 | |
Total revenue | $ 10,646 | $ 10,420 | $ 14,718 | $ 31,289 | $ 36,073 | $ 43,994 | $ 59,360 | |
Total long-lived assets | 1,956 | 1,956 | $ 1,358 | |||||
North America [Member] | ||||||||
Total revenue | 9,258 | 8,919 | 26,067 | 30,449 | ||||
Total long-lived assets | 1,780 | 1,780 | 1,179 | |||||
Europe [Member] | ||||||||
Total revenue | 112 | 785 | 476 | 1,819 | ||||
Total long-lived assets | 176 | 176 | $ 179 | |||||
Asia [Member] | ||||||||
Total revenue | $ 1,276 | $ 716 | $ 4,746 | $ 3,805 |
Note 10 - Significant Risk Co_3
Note 10 - Significant Risk Concentrations (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 10,646,000 | $ 10,420,000 | $ 14,718,000 | $ 31,289,000 | $ 36,073,000 | $ 43,994,000 | $ 59,360,000 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 5,992,000 | 5,992,000 | $ 6,177,000 | |||||
GES Singapore Pte, LTD [Member] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 1,100,000 | |||||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 958,000 | $ 958,000 | ||||||
GES Singapore Pte, LTD [Member] | Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member] | ||||||||
Concentration Risk, Percentage | 11.00% | |||||||
GES Singapore Pte, LTD [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||||
Concentration Risk, Percentage | 16.00% | |||||||
Honeywell International, Inc [Member] | ||||||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 680,000 | |||||||
Honeywell International, Inc [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||||
Concentration Risk, Percentage | 12.00% | |||||||
Kodak Alaris, Inc [Member] | ||||||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 866,000 | |||||||
Kodak Alaris, Inc [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||||
Concentration Risk, Percentage | 15.00% |
Note 10 - Significant Risk Co_4
Note 10 - Significant Risk Concentrations - Rebate Credits (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Cost of Sales [Member] | ||||
Reductions | $ 26 | $ 500 | $ 236 | $ 654 |
Selling and Marketing Expense [Member] | ||||
Reductions | $ 110 | $ 123 | $ 287 | $ 1,026 |
Note 11 - Paycheck Protection_3
Note 11 - Paycheck Protection Program (PPP) Loan (Details Textual) - USD ($) $ in Thousands | Apr. 07, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Proceeds from Notes Payable, Total | $ 1,600 | $ 1,580 |
Note 11 - Paycheck Protection_4
Note 11 - Paycheck Protection Program (PPP) Loan - PPP Loan Balance (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Notes Payable, Total | $ 0 | $ 1,584 |
Current portion | 0 | 950 |
Long-term portion | 0 | 634 |
Paycheck Protection Program CARES Act [Member] | ||
Principal | 0 | 1,572 |
Accrued interest | 0 | 12 |
Notes Payable, Total | 0 | 1,584 |
Current portion | 0 | 950 |
Long-term portion | $ 0 | $ 634 |
Note 12 - Revision of Prior P_3
Note 12 - Revision of Prior Period Financial Statements (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 10,646,000 | $ 10,420,000 | $ 14,718,000 | $ 31,289,000 | $ 36,073,000 | $ 43,994,000 | $ 59,360,000 |
Revision of Prior Period, Error Correction, Adjustment [Member] | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 77,000 | $ 77,000 | $ 77,000 | ||||
Error Related to Recognition of Certain Revenues in Edge to Cloud Segment [Member] | Revision of Prior Period, Error Correction, Adjustment [Member] | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ (77,000) |
Note 12 - Revision of Prior P_4
Note 12 - Revision of Prior Period Financial Statements - Error Correction and Prior Period Adjustments (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Jun. 30, 2021 | Dec. 31, 2020 | |
Deferred revenue, current portion | $ 1,098 | $ 1,098 | $ 1,482 | $ 2,088 | |||||
Total current liabilities | 8,830 | 8,830 | 11,123 | 11,262 | |||||
Accumulated deficit | (131,468) | $ (126,757) | (131,468) | $ (126,757) | (128,117) | (130,006) | |||
Total shareholders' equity | 39,836 | 39,836 | 9,773 | $ 8,886 | 8,728 | ||||
Net loss | (895) | $ (136) | (1,030) | (1,462) | $ (1,683) | (7,744) | (9,104) | ||
Total revenue | 10,646 | 10,420 | 14,718 | 31,289 | 36,073 | 43,994 | 59,360 | ||
Gross profit | 1,328 | 1,890 | 2,709 | 4,113 | 5,521 | 7,523 | 10,173 | ||
Loss from operations | (866) | (138) | (1,052) | (3,037) | (1,652) | (7,860) | (9,237) | ||
Loss before income taxes | (895) | (136) | (1,030) | (1,462) | (1,683) | (7,744) | (9,088) | ||
Net loss | $ (895) | $ (136) | $ (1,030) | $ (1,462) | $ (1,683) | $ (7,744) | $ (9,104) | ||
Basic loss per share (in dollars per share) | $ (0.05) | $ (0.01) | $ (0.08) | $ (0.09) | $ (0.13) | $ (0.60) | $ (0.71) | ||
Diluted loss per share (in dollars per share) | $ (0.05) | $ (0.01) | $ (0.08) | $ (0.09) | $ (0.13) | $ (0.60) | $ (0.71) | ||
Comprehensive loss | $ (858) | $ (128) | $ (1,034) | $ (1,492) | $ (1,713) | $ (7,822) | $ (9,165) | ||
Deferred revenue | (771) | (310) | (125) | (304) | |||||
Net cash used by operating activities | (3,192) | 754 | (4,994) | (5,995) | |||||
Edge to Cloud [Member] | |||||||||
Total revenue | 1,008 | 1,275 | 2,162 | 2,896 | 2,913 | 6,653 | 8,732 | ||
Gross profit | $ 181 | $ 147 | $ 248 | $ (137) | |||||
Previously Reported [Member] | |||||||||
Deferred revenue, current portion | 1,559 | 2,165 | |||||||
Total current liabilities | 11,200 | 11,339 | |||||||
Accumulated deficit | (126,834) | (126,834) | (128,194) | (130,083) | |||||
Total shareholders' equity | 9,696 | 8,651 | |||||||
Net loss | (1,107) | (7,821) | (9,181) | ||||||
Total revenue | 14,641 | 43,917 | 59,283 | ||||||
Gross profit | 2,632 | 7,446 | 10,096 | ||||||
Loss from operations | (1,129) | (7,937) | (9,314) | ||||||
Loss before income taxes | (1,107) | (7,821) | (9,165) | ||||||
Net loss | $ (1,107) | $ (7,821) | $ (9,181) | ||||||
Basic loss per share (in dollars per share) | $ (0.09) | $ (0.60) | $ (0.71) | ||||||
Diluted loss per share (in dollars per share) | $ (0.09) | $ (0.60) | $ (0.71) | ||||||
Comprehensive loss | $ (1,111) | $ (7,899) | $ (9,242) | ||||||
Deferred revenue | (48) | (227) | |||||||
Net cash used by operating activities | (4,994) | (5,995) | |||||||
Previously Reported [Member] | Edge to Cloud [Member] | |||||||||
Total revenue | 2,085 | 6,576 | 8,655 | ||||||
Revision of Prior Period, Error Correction, Adjustment [Member] | |||||||||
Deferred revenue, current portion | (77) | (77) | |||||||
Total current liabilities | (77) | (77) | |||||||
Accumulated deficit | 77 | 77 | 77 | 77 | |||||
Total shareholders' equity | 77 | $ 77 | |||||||
Net loss | 77 | 77 | 77 | ||||||
Total revenue | 77 | 77 | 77 | ||||||
Gross profit | 77 | 77 | 77 | ||||||
Loss from operations | 77 | 77 | 77 | ||||||
Loss before income taxes | 77 | 77 | 77 | ||||||
Net loss | $ 77 | $ 77 | $ 77 | ||||||
Basic loss per share (in dollars per share) | $ 0.01 | $ 0 | $ 0 | ||||||
Diluted loss per share (in dollars per share) | $ 0.01 | $ 0 | $ 0 | ||||||
Comprehensive loss | $ 77 | $ 77 | $ 77 | ||||||
Deferred revenue | (77) | (77) | |||||||
Net cash used by operating activities | 0 | 0 | |||||||
Revision of Prior Period, Error Correction, Adjustment [Member] | Edge to Cloud [Member] | |||||||||
Total revenue | $ 77 | $ 77 | $ 77 |