Avantax (AVTA) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 30, 2019
Cover page.
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	BLUCORA, INC.
Entity Central Index Key	0001068875
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		48,943,206
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	BCOR
Security Exchange Name	NASDAQ
Entity File Number	000-25131
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	91-1718107
Entity Address, Address Line One	6333 N. State Hwy 161, 4th Floor
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75038
City Area Code	972
Local Phone Number	870-6400
Document Quarterly Report	true
Document Transition Report	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 97,466	$ 84,524
Cash segregated under federal or other regulations	1,284	842
Accounts receivable, net of allowance	16,803	15,721
Commissions receivable	20,724	15,562
Other receivables	7,424	7,408
Prepaid expenses and other current assets, net	9,058	7,755
Total current assets	152,759	131,812
Long-term assets:
Property and equipment, net	17,230	12,389
Right-of-use assets, net	10,199
Goodwill, net	663,005	548,685
Other intangible assets, net	301,533	294,603
Other long-term assets	9,902	10,236
Total long-term assets	1,001,869	865,913
Total assets	1,154,628	997,725
Current liabilities:
Accounts payable	12,139	3,798
Commissions and advisory fees payable	18,871	15,199
Accrued expenses and other current liabilities	39,261	18,980
Lease liabilities	4,163	46
Deferred revenue	7,456	10,257
Current portion of long-term debt, net	1,227	0
Total current liabilities	83,117	48,280
Long-term liabilities:
Long-term debt, net	381,598	260,390
Deferred tax liability, net	35,225	40,394
Deferred revenue	7,403	8,581
Lease liabilities	6,055	100
Other long-term liabilities	6,384	7,440
Total long-term liabilities	436,665	316,905
Total liabilities	519,782	365,185
Redeemable noncontrolling interests	0	24,945
Commitments and contingencies (Note 8)
Stockholders’ equity:
Common stock, par $0.0001—900,000 authorized shares; 48,895 shares issued and 48,334 shares outstanding at September 30, 2019; 48,044 shares issued and outstanding at December 31, 2018	5	5
Additional paid-in capital	1,580,336	1,569,725
Accumulated deficit	(932,505)	(961,689)
Accumulated other comprehensive loss	(272)	(446)
Treasury stock, at cost—561 shares at September 30, 2019	(12,718)	0
Total stockholders’ equity	634,846	607,595
Total liabilities and stockholders’ equity	$ 1,154,628	$ 997,725

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common stock, shares issued (in shares)	48,895,000	48,044,000
Common stock, shares outstanding (in shares)	48,334,000	48,044,000
Treasury stock (in shares)	561,000

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue:
Services revenue	$ 149,016	$ 95,385	$ 568,524	$ 459,198
Cost of revenue:
Amortization of acquired technology	0	0	0	99
Total cost of revenue	103,663	63,683	259,864	195,807
Engineering and technology	8,635	4,246	22,323	14,225
Sales and marketing	19,976	15,675	104,804	94,719
General and administrative	19,642	13,404	55,721	43,895
Acquisition and integration	6,759	0	17,739	0
Depreciation	1,470	798	3,846	3,706
Amortization of other acquired intangible assets	10,082	8,271	27,295	25,384
Impairment of intangible asset	50,900	0	50,900	0
Restructuring	0	0	0	291
Total operating expenses	221,127	106,077	542,492	378,027
Operating income (loss)	(72,111)	(10,692)	26,032	81,171
Other loss, net	(2,606)	(3,863)	(11,682)	(11,850)
Income (loss) before income taxes	(74,717)	(14,555)	14,350	69,321
Income tax benefit (expense)	12,331	818	16,470	(2,052)
Net income (loss)	(62,386)	(13,737)	30,820	67,269
Net income attributable to noncontrolling interests	0	(227)	0	(654)
Net income (loss) attributable to Blucora, Inc.	$ (62,386)	$ (13,964)	$ 30,820	$ 66,615
Net income (loss) per share attributable to Blucora, Inc.:
Basic (in USD per share)	$ (1.28)	$ (0.37)	$ 0.64	$ 1.34
Diluted (in USD per share)	$ (1.28)	$ (0.37)	$ 0.62	$ 1.28
Weighted average shares outstanding:
Basic (in shares)	48,652	47,712	48,456	47,191
Diluted (in shares)	48,652	47,712	49,596	49,292
Other comprehensive income (loss):
Net income (loss)	$ (62,386)	$ (13,737)	$ 30,820	$ 67,269
Foreign currency translation adjustment	(64)	102	174	(147)
Other comprehensive income (loss)	(64)	102	174	(147)
Comprehensive income (loss)	(62,450)	(13,635)	30,994	67,122
Comprehensive income (loss) attributable to noncontrolling interests	0	(227)	0	(654)
Comprehensive income (loss) attributable to Blucora, Inc.	(62,450)	(13,862)	30,994	66,468
Wealth Management Services
Revenue:
Services revenue	145,428	91,887	362,791	275,984
Cost of revenue:
Cost of revenue	102,030	62,313	250,881	187,526
Tax Preparation Services
Revenue:
Services revenue	3,588	3,498	205,733	183,214
Cost of revenue:
Cost of revenue	$ 1,633	$ 1,370	$ 8,983	$ 8,182

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional- paid-in capital	Accumulated deficit	Accumulated other comprehensive loss	Treasury stock
Balance as of Beginning of period at Dec. 31, 2017	$ 18,033
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net income (loss)	205
Balance as of End of period at Mar. 31, 2018	18,238
Balance (in shares) at Dec. 31, 2017		46,366
Balance at Dec. 31, 2017	541,387	$ 5	$ 1,555,560	$ (1,014,174)	$ (4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options, restricted stock units and employee stock purchase plan (in shares)		462
Common stock issued for stock options, restricted stock units and employee stock purchase plan	3,237		3,237
Other comprehensive income (loss)	(137)				(137)
Stock-based compensation	2,958		2,958
Tax payments from shares withheld for equity awards	(1,493)		(1,493)
Net income (loss)	45,341			45,341
Balance (in shares) at Mar. 31, 2018		46,828
Balance at Mar. 31, 2018	593,144	$ 5	1,560,262	(966,982)	(141)
Balance as of Beginning of period at Dec. 31, 2017	18,033
Balance as of End of period at Sep. 30, 2018	22,224
Balance (in shares) at Dec. 31, 2017		46,366
Balance at Dec. 31, 2017	541,387	$ 5	1,555,560	(1,014,174)	(4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(147)
Net income (loss)	66,615
Balance (in shares) at Sep. 30, 2018		47,816
Balance at Sep. 30, 2018	623,685	$ 5	1,569,539	(945,708)	(151)
Balance as of Beginning of period at Mar. 31, 2018	18,238
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net income (loss)	222
Balance as of End of period at Jun. 30, 2018	18,460
Balance (in shares) at Mar. 31, 2018		46,828
Balance at Mar. 31, 2018	593,144	$ 5	1,560,262	(966,982)	(141)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options and restricted stock units (in shares)		665
Common stock issued for stock options and restricted stock units	7,853		7,853
Other comprehensive income (loss)	(112)				(112)
Stock-based compensation	4,033		4,033
Tax payments from shares withheld for equity awards	(2,736)		(2,736)
Net income (loss)	35,238			35,238
Balance (in shares) at Jun. 30, 2018		47,493
Balance at Jun. 30, 2018	637,420	$ 5	1,569,412	(931,744)	(253)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Redemption of noncontrolling interests	(3,537)		(3,537)
Net income (loss)	227
Adjustment of redeemable noncontrolling interests to redemption value	3,537
Balance as of End of period at Sep. 30, 2018	22,224
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options, restricted stock units and employee stock purchase plan (in shares)		323
Common stock issued for stock options, restricted stock units and employee stock purchase plan	2,850		2,850
Other comprehensive income (loss)	102				102
Stock-based compensation	2,568		2,568
Tax payments from shares withheld for equity awards	(1,754)		(1,754)
Net income (loss)	(13,964)			(13,964)
Adjustment of redeemable noncontrolling interests to redemption value	(3,537)		(3,537)
Balance (in shares) at Sep. 30, 2018		47,816
Balance at Sep. 30, 2018	623,685	$ 5	1,569,539	(945,708)	(151)
Balance as of Beginning of period at Dec. 31, 2018	24,945
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Reclassification of mandatorily redeemable noncontrolling interests	(22,428)
Net income (loss)	0
Balance as of End of period at Mar. 31, 2019	$ 2,517
Balance (in shares) at Dec. 31, 2018	48,044	48,044				0
Balance at Dec. 31, 2018	$ 607,595	$ 5	1,569,725	(961,689)	(446)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options, restricted stock units and employee stock purchase plan (in shares)		211
Common stock issued for stock options, restricted stock units and employee stock purchase plan	283		283
Other comprehensive income (loss)	107				107
Stock-based compensation	2,443		2,443
Tax payments from shares withheld for equity awards	(2,425)		(2,425)
Net income (loss)	62,170			62,170
Balance (in shares) at Mar. 31, 2019		48,255				0
Balance at Mar. 31, 2019	668,537	$ 5	1,570,026	(901,155)	(339)	$ 0
Balance as of Beginning of period at Dec. 31, 2018	24,945
Balance as of End of period at Sep. 30, 2019	$ 0
Balance (in shares) at Dec. 31, 2018	48,044	48,044				0
Balance at Dec. 31, 2018	$ 607,595	$ 5	1,569,725	(961,689)	(446)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	174
Net income (loss)	$ 30,820
Balance (in shares) at Sep. 30, 2019	48,334	48,895				(561)
Balance at Sep. 30, 2019	$ 634,846	$ 5	1,580,336	(932,505)	(272)	$ (12,718)
Balance as of Beginning of period at Mar. 31, 2019	2,517
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Redemption of noncontrolling interests	(2,517)
Net income (loss)	0
Balance as of End of period at Jun. 30, 2019	0
Balance (in shares) at Mar. 31, 2019		48,255				0
Balance at Mar. 31, 2019	668,537	$ 5	1,570,026	(901,155)	(339)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options, restricted stock units and employee stock purchase plan (in shares)		524
Common stock issued for stock options, restricted stock units and employee stock purchase plan	4,181		4,181
Other comprehensive income (loss)	131				131
Stock-based compensation	4,082		4,082
Tax payments from shares withheld for equity awards	(2,735)		(2,735)
Net income (loss)	31,036			31,036
Adjustment of redeemable noncontrolling interests to redemption value	(2,517)
Balance (in shares) at Jun. 30, 2019		48,779				0
Balance at Jun. 30, 2019	705,232	$ 5	1,575,554	(870,119)	(208)	$ 0
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net income (loss)	0
Balance as of End of period at Sep. 30, 2019	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options and restricted stock units (in shares)		116
Common stock issued for stock options and restricted stock units	491		491
Other comprehensive income (loss)	(64)				(64)
Stock-based compensation	4,639		4,639
Tax payments from shares withheld for equity awards	(348)		(348)
Stock repurchases						(561)
Stock repurchases	(12,718)					$ (12,718)
Net income (loss)	$ (62,386)			(62,386)
Balance (in shares) at Sep. 30, 2019	48,334	48,895				(561)
Balance at Sep. 30, 2019	$ 634,846	$ 5	$ 1,580,336	$ (932,505)	$ (272)	$ (12,718)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating Activities:
Net income	$ 30,820	$ 67,269
Adjustments to reconcile net income to net cash from operating activities:
Stock-based compensation	11,164	9,559
Depreciation and amortization of acquired intangible assets	32,078	29,539
Impairment of intangible asset	50,900	0
Reduction of right-of-use lease assets	3,117
Deferred income taxes	(23,343)	(1,073)
Amortization of premium on investments, net, and debt issuance costs	848	659
Accretion of debt discounts	189	125
Loss on debt extinguishment	0	1,534
Gain on sale of a business	(3,256)	0
Other	508	0
Cash provided (used) by changes in operating assets and liabilities:
Accounts receivable	352	4,636
Commissions receivable	(19)	60
Other receivables	(18)	3,149
Prepaid expenses and other current assets	13,828	1,369
Other long-term assets	497	(902)
Accounts payable	(2,346)	(2,255)
Commissions and advisory fees payable	(602)	(2,627)
Lease liabilities	(3,371)
Deferred revenue	(21,694)	(2,411)
Accrued expenses and other current and long-term liabilities	6,595	(3,048)
Net cash provided by operating activities	96,247	105,583
Investing Activities:
Payments to Acquire Businesses, Net of Cash Acquired	(166,561)	0
Purchases of property and equipment	(6,887)	(5,340)
Proceeds from sale of a business, net of cash	7,467	0
Net cash used by investing activities	(165,981)	(5,340)
Financing Activities:
Proceeds from credit facilities	121,489	0
Payments on credit facilities	0	(80,000)
Stock repurchases	(11,968)	0
Payment of redeemable noncontrolling interests	(24,945)	0
Proceeds from stock option exercises	3,811	11,738
Proceeds from issuance of stock through employee stock purchase plan	1,144	1,608
Tax payments from shares withheld for equity awards	(5,508)	(5,983)
Contingent consideration payments for business acquisition	(943)	(1,315)
Net cash provided (used) by financing activities	83,080	(73,952)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	38	(11)
Net increase in cash, cash equivalents, and restricted cash	13,384	26,280
Cash, cash equivalents, and restricted cash, beginning of period	85,366	62,311
Cash, cash equivalents, and restricted cash, end of period	98,750	88,591
Supplemental cash flow information:
Accrued stock repurchases	750	0
Cash paid for income taxes	3,154	1,096
Cash paid for interest	$ 13,901	$ 11,573

Description of the Business

Description of the Business	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business Description of the business: Blucora, Inc. (the "Company , " "Blucora , " "we , " "our , " or "us" ) operates two primary businesses: a Wealth Management business and a digital Tax Preparation business. The Wealth Management business consists of the operations of Avantax Wealth Management (which is comprised of what was formerly HD Vest and 1st Global, both as discussed further below ) (the "Wealth Management business" or the "Wealth Management segment” ) . Avantax Wealth Management provides tax-focused wealth management solutions for financial advisors, tax preparers, certified public accounting firms and their clients. Specifically, the Wealth Management business: • provides an integrated platform of technology, practice and product support, including brokerage, investment advisory and insurance services, to assist in making each financial advisor a comprehensive financial service center for his/her clients and/or clients of their respective firms; • helps tax and accounting professionals and firms integrate financial advisory services into their practices; • recruits independent tax professionals with, or within, established tax practices and offers specialized training and support, which allows them to provide their respective clients comprehensive wealth management and tax solutions; and • generates revenue primarily through commissions, quarterly investment advisory fees based on total client assets and other fees. On May 6, 2019, the Company closed the acquisition of all of the issued and outstanding common stock of 1st Global, a tax-focused wealth management company, for a cash purchase price of $180.0 million (the "Acquisition" ). The purchase price was paid with a combination of (i) cash on hand and (ii) the proceeds from a $125.0 million increase in the term loan under the Company's credit agreement. See further discussion of the term loan increase in "Note 6: Debt." The operations of 1st Global are included in the Company's operating results as part of the Wealth Management segment from the date of the Acquistion. See further discussion in "Note 3: Business Combinations." On September 9, 2019, the Company announced a rebranding of its Wealth Management business to Avantax Wealth Management (the "Rebranding" ). In connection with the Rebranding, HD Vest (which comprised all of the Wealth Management business prior to the Acquisition) was renamed Avantax Wealth Management in mid-September 2019, and 1st Global converted in late October 2019. In connection with the Rebranding, the Company recorded an impairment charge related to the HD Vest trade name intangible asset of approximately $50.9 million for the three and nine months ended September 30, 2019. The impairment charge is reflected on the consolidated statements of comprehensive income (loss). See further discussion in "Note 12: Intangible Asset Impairment." The Tax Preparation business consists of the operations of TaxAct and provides digital tax preparation solutions for consumers, small business owners, and tax professionals through its website www.TaxAct.com (collectively referred to as the "Tax Preparation business" or the "Tax Preparation segment" ). Segments: T he Company has two reportable segments: the Wealth Management segment and the Tax Preparation segment. Reclassification : The Company reclassified approximately $0.7 million from long-term assets to current assets related to loans given to several HD Vest advisors on its December 31, 2018 consolidated balance sheet.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Interim financial information: The accompanying condensed consolidated financial statements have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission (the "SEC" ) for interim financial reporting. These condensed consolidated financial statements are unaudited and, in management’s opinion, include all adjustments, consisting of normal recurring adjustments and accruals, necessary for a fair presentation of the consolidated financial position, results of operations, and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ( "GAAP" ) have been omitted in accordance with the rules and regulations of the SEC. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Part II, Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Interim results are not necessarily indicative of results for a full year. Cash, cash equivalents, and restricted cash: The following table presents cash, cash equivalents, and restricted cash as reported on the consolidated balance sheets that equal the total amounts on the condensed consolidated statements of cash flows (in thousands): September 30, December 31, 2019 2018 2018 Cash and cash equivalents $ 97,466 $ 88,274 $ 84,524 Cash segregated under federal or other regulations 1,284 317 842 Total cash, cash equivalents, and restricted cash $ 98,750 $ 88,591 $ 85,366 Cash segregated under federal and other regulations is held in a separate bank account for the exclusive benefit of the Company’s Wealth Management customers. Restricted cash is pledged as collateral for certain of the Company's banking and lease arrangements, and is included in prepaid expenses and other current assets, net and other long-term assets. Business combinations and intangible assets including goodwill: We account for business combinations using the acquisition method. The purchase price of the Acquisition has been allocated to 1st Global’s tangible assets, identifiable intangible assets, and assumed liabilities based on their estimated fair values at the time of the Acquisition. This allocation involves a number of assumptions, estimates, and judgments that could materially affect the timing or amounts recognized in the Company's financial statements. The most subjective areas include determining the fair value of the following: • intangible assets, including the valuation methodology, estimations of future cash flows, discount rates, growth rates, as well as the estimated useful life of intangible assets; • deferred tax assets and liabilities and uncertain tax positions, which are initially estimated as of the Acquisition date; • pre-existing liabilities or legal claims, and deferred revenue, in each case as may be applicable; and • goodwill as measured as the excess of consideration transferred over the net of the Acquisition date fair values of the assets acquired and the liabilities assumed. The Company's assumptions and estimates are based upon comparable market data and information obtained from the Company's management and the management of 1st Global. The following table presents c hanges in the carrying value of goodwill by reportable segment during the nine months ended September 30, 2019, in thousands: December 31, 2018 Acquired Disposed September 30, 2019 Wealth Management $ 356,042 $ 118,422 $ — $ 474,464 Tax Preparation 192,643 — (4,102) 188,541 Total goodwill $ 548,685 $ 118,422 $ (4,102) $ 663,005 Intangible asset impairment: The Company evaluates indefinite-lived intangible assets for impairment annually, as of November 30, or more frequently when events or circumstances indicate that impairment may have occurred. The Company evaluated the HD Vest trade name indefinite-lived asset following the Rebranding by performing a quantitative impairment test of that intangible asset. This test compared the carrying value of the HD Vest trade name intangible asset to its fair value. Fair value typically is estimated using the present value of future discounted cash flows, an income approach. The significant estimates in the discounted cash flow model include the weighted-average cost of capital and long-term rates of revenue growth and/or profitability of our businesses. The weighted-average cost of capital considers the relevant risk associated with business-specific characteristics and the uncertainty related to the ability to achieve the projected cash flows. These estimates and the resulting valuations require significant judgment. See "Note 12: Intangible Asset Impairment" for further discussion. Fair value of financial instruments : The Company measures its cash equivalents at fair value. The Company considers the carrying values of accounts receivable, commissions receivable, other receivables, prepaid expenses, other current assets, accounts payable, commissions and advisory fees payable, accrued expenses, and other current liabilities to approximate fair values primarily due to their short-term natures. Concentration of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term investments, trade accounts receivable, and commissions receivable. These instruments are generally unsecured and uninsured. For cash equivalents, short-term investments, and commissions receivable, the Company attempts to manage exposure to counterparty credit risk by only entering into agreements with major financial institutions and investment sponsors that are expected to be able to fully perform under the terms of their respective agreements. Accounts receivable are typically unsecured and are derived from revenues earned from customers primarily located in the United States operating in a variety of geographic areas. The Company performs ongoing credit evaluations of its customers and maintains allowances for potential credit losses. Recent accounting pronouncements: Changes to GAAP are established by the Financial Accounting Standards Board ( "FASB" ) in the form of accounting standards updates ( "ASUs" ) to the FASB’s Accounting Standards Codification ( "ASC" ). The Company considers the applicability and impact of all recent ASUs. ASUs and ASCs not listed below were assessed and either were determined to not be applicable or are expected to have minimal impact on the Company’s consolidated financial position and results of operations. The Company currently is evaluating, or has adopted, ASUs and ASCs that impact the following areas: Leases (ASU 2016-02) - In February 2016, the FASB issued guidance codified in ASC 842, "Leases" ( "ASC 842" ), which supersedes the guidance in ASC 840 "Leases." Under ASC 842, lease assets and liabilities, whether arising from leases that are considered operating or finance (capital) will be recognized on the balance sheet. Lease liabilities are measured as the present value of unpaid lease payments for operating leases where the Company is the lessee, and a corresponding right-of-use ( "ROU" ) asset is recognized for the right to use the leased assets. This guidance became effective on a modified retrospective basis-with various practical expedients related to leases that commenced before the effective date-for annual reporting periods, including interim reporting periods within those annual reporting periods, beginning after December 15, 2018. Prior comparable periods are presented in accordance with accounting guidance under ASC 840 "Leases" and were not restated. The Company adopted ASC 842 on January 1, 2019 for all open leases with a term greater than one year as of the adoption date, using the modified retrospective method of adoption with a cumulative effect adjustment to retained earnings. The Company elected the package of practical expedients, for which there is no requirement to reassess lease existence, classification and initial direct costs, the hindsight practical expedient, for which the Company used hindsight in determining certain lease terms, and the short-term lease expedient, for which the Company considered all open leases with a term greater than one year as of the adoption date. The adoption resulted in $6.6 million of additional operating lease assets, $9.1 million of additional operating lease liabilities, and a $1.6 million adjustment to the opening balance of retained earnings as a result of reevaluating certain of the Company's lease terms as of the adoption date. The Company also reclassified, upon adoption, $0.9 million of other lease-related balances to reduce the measurement of lease assets. The Company's lease terms are contractually fixed but may include extension or termination options reasonably assured to be exercised at lease inception, which are included in the recognition of ROU assets and lease liabilities. The Company’s leases do not contain residual value guarantees or material variable lease payments. The Company does not have any material restrictions or covenants imposed by leases that would impact the Company’s ability to pay dividends or cause the Company to incur additional financial obligations. The Company’s leases are not complex; therefore, there were no significant assumptions or judgments made in applying the requirements of ASC 842, including the determination of whether the contracts contained a lease, the allocation of consideration in the contracts between lease and non-lease components, and the determination of the discount rates for the leases. Measurement of Credit Losses (ASU 2016-13) - In June 2016, the FASB issued an ASU that requires companies to measure credit losses utilizing a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU is effective for fiscal years beginning after December 15, 2019, including the interim periods within those fiscal years. The Company is currently assessing the impact of adopting this ASU, but based on a preliminary assessment, does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures.

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Business Combinations	Business CombinationsOn May 6, 2019, the Company closed the Acquisition of all of the issued and outstanding common stock of 1st Global for a cash purchase price of $180.0 million. The purchase price is subject to customary adjustment as well as certain indemnity escrows, in each case as described more fully in the stock purchase agreement governing the Acquisition. The purchase price has been allocated to 1st Global’s tangible assets, identifiable intangible assets, and assumed liabilities based on their estimated fair values at the time of the Acquisition. The preliminary fair values of assets acquired and liabilities assumed in the Acquisition were as follows (in thousands): Tangible assets acquired, including cash of $12,389 $ 37,153 Goodwill 118,422 Identifiable intangible assets 85,240 Contingent liability (11,052) Deferred revenues (17,715) Other current liabilities (12,956) Deferred tax liabilities, net (19,092) Total $ 180,000 Cash paid at Acquisition date $ 176,850 Cash to be paid after Acquisition date 3,150 The identifiable intangible assets were as follows (in thousands, except as otherwise indicated): Estimated Fair Value Accumulated Amortization through September 30, 2019 Weighted Average Estimated Useful Life (in months) Advisor relationships $ 78,400 $ 2,204 204 Developed technology 2,980 567 29 Favorable lease 1,260 73 84 Trade name 1,000 135 36 Training materials 900 121 36 Sponsor relationships 700 24 144 Total identified intangible assets $ 85,240 $ 3,124 192 For the three and nine months ended September 30, 2019, the Company recognized amortization expense of approximately $2.0 million and $3.1 million, respectively, in "Amortization of other acquired intangible assets" on the condensed consolidated statements of comprehensive income (loss). Goodwill consists largely of synergistic opportunities for the Wealth Management business, including increased scale, enhanced capabilities, and an integrated platform of brokerage, investment advisory and insurance services. Goodwill is not expected to be deductible for income tax purposes, and is reported in the Company's Wealth Management segment. As part of the Acquisition, the Company assumed, and recorded as part of the opening balance sheet, a contingent liability related to a regulatory inquiry. While the inquiry is still on-going, the Company evaluated a range of possible losses and initially recorded a reserve of $10.0 million. During the three months ended September 30, 2019, the Company increased its reserve to $11.1 million. The Company retained $3.2 million of the purchase price of the Acquisition, of which $2.1 million was paid to employees of 1st Global during the three months ended September 30, 2019, with the remainder to be paid to either 1st Global or former employees of 1st Global within the twelve months following the Acquisition. The preliminary fair value estimates of the net assets acquired are based upon preliminary calculations and valuations, and those estimates and assumptions are subject to change as, due to the recent timing of the Acquisition, the Company obtains additional information for those estimates during the measurement period (up to one year from the Acquisition date). The excess of the total consideration over the tangible assets, identifiable intangible assets, and assumed liabilities was recorded as goodwill. During the three months ended September 30, 2019, the Company adjusted its preliminary fair value estimates and estimated useful lives based upon information obtained through September 30, 2019, which resulted in an insignificant impact to the Company's operating results. These adjustments related to estimated intangible asset fair values (primarily related to the advisors relationships intangible asset), a contingent liability, deferred tax liabilities, net, and goodwill. The primary areas of the acquisition accounting that had not yet been finalized as of September 30, 2019 related to deferred taxes, which would result in a change to goodwill. The gross contractual amount of acquired accounts receivable, including commissions receivable, was $6.7 million. As an insignificant amount of these receivables was expected to be uncollectible, the acquired amount approximates fair value. During the nine months ended September 30, 2019, the Company incurred transaction costs of $6.5 million associated with the Acquisition, which were recognized in "General and administrative expense" on the condensed consolidated statements of comprehensive income (loss). The operations of 1st Global are included in the Company's operating results as part of the Wealth Management segment from the date of the Acquisition. From the date of the Acquisition, 1st Global contributed approximately $73.0 million of revenue and $0.1 million of loss before income taxes to the Company. Pro forma financial information of the 1st Global Acquisition: The financial information in the table below summarizes the combined results of operations of Blucora and 1st Global, on a pro forma basis, for the period in which the Acquisition occurred and the prior reporting period as though the companies had been combined as of the beginning of each period presented. Pro forma adjustments have been made to include amortization expense on the definite-lived intangible assets identified in the Acquisition, debt-related expenses associated with the credit facility used to finance the Acquisition, and to remove Acquisition-related transaction costs. Income taxes also have been adjusted for the effect of these items. The following pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved had the Acquisition occurred at the beginning of the period presented (amounts in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Revenue $ 149,016 $ 138,566 $ 627,824 $ 588,342 Net income (loss) $ (62,386) $ (14,147) $ 18,877 $ 58,235

Segment Information and Revenue

Segment Information and Revenues	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information and Revenues	Segment Information and Revenues The Company has two reportable segments: the Wealth Management segment and the Tax Preparation segment. The Company’s Chief Executive Officer is its chief operating decision maker and reviews financial information presented on a disaggregated basis. This information is used for purposes of allocating resources and evaluating financial performance. The operations of 1st Global are included in the Company's operating results as part of the Wealth Management segment from the date of the Acquisition. Information on reportable segments currently presented to the Company’s chief operating decision maker and a reconciliation to consolidated net income (loss) are presented below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Revenue: Wealth Management $ 145,428 $ 91,887 $ 362,791 $ 275,984 Tax Preparation 3,588 3,498 205,733 183,214 Total revenue 149,016 95,385 568,524 459,198 Operating income (loss): Wealth Management 20,631 12,891 49,150 38,920 Tax Preparation (12,075) (6,936) 108,565 95,991 Corporate-level activity (80,667) (16,647) (131,683) (53,740) Total operating income (loss) (72,111) (10,692) 26,032 81,171 Other loss, net (2,606) (3,863) (11,682) (11,850) Income tax benefit (expense) 12,331 818 16,470 (2,052) Net income (loss) $ (62,386) $ (13,737) $ 30,820 $ 67,269 Revenues by major category within each segment are presented below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Wealth Management: Commission $ 52,623 $ 41,015 $ 137,851 $ 124,269 Advisory 75,579 41,443 176,746 120,802 Asset-based 13,618 6,979 36,530 21,457 Transaction and fee 3,608 2,450 11,664 9,456 Total Wealth Management revenue $ 145,428 $ 91,887 $ 362,791 $ 275,984 Tax Preparation: Consumer $ 4,280 $ 3,246 $ 190,908 $ 168,295 Professional (692) 252 14,825 14,919 Total Tax Preparation revenue $ 3,588 $ 3,498 $ 205,733 $ 183,214 During the three months ended September 30, 2019, the Company recorded an immaterial adjustment to previously-recognized Professional Tax Preparation revenues, which did not have an impact on revenues for the nine months ended September 30, 2019. Wealth Management revenue recognition: Wealth Management revenue consists primarily of commission revenue, advisory revenue, asset-based revenue, and transaction and fee revenue. The Company's Wealth Management revenues are earned from customers primarily located in the United States. Details of Wealth Management revenues are (in thousands): Three months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Commission revenue $ 23,195 $ 29,428 $ 52,623 $ 16,929 $ 24,086 $ 41,015 Advisory revenue — 75,579 75,579 — 41,443 41,443 Asset-based revenue — 13,618 13,618 — 6,979 6,979 Transaction and fee revenue 1,054 2,554 3,608 576 1,874 2,450 Total $ 24,249 $ 121,179 $ 145,428 $ 17,505 $ 74,382 $ 91,887 Nine months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Commission revenue $ 59,348 $ 78,503 $ 137,851 $ 51,193 $ 73,076 $ 124,269 Advisory revenue — 176,746 176,746 — 120,802 120,802 Asset-based revenue — 36,530 36,530 — 21,457 21,457 Transaction and fee revenue 2,624 9,040 11,664 2,573 6,883 9,456 Total $ 61,972 $ 300,819 $ 362,791 $ 53,766 $ 222,218 $ 275,984 Tax Preparation revenue recognition : The Company derives revenue from the sale of Tax Preparation digital services, ancillary services, packaged tax preparation software, and arrangements that may include a combination of these items. Ancillary services primarily include refund payment transfer and audit defense. The Company’s Tax Preparation revenues are earned from customers primarily located in the United States. Details of Tax Preparation revenues are (in thousands): Three months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Consumer $ 3,268 $ 1,012 $ 4,280 $ 3,246 $ — $ 3,246 Professional (619) (73) (692) 182 70 252 Total $ 2,649 $ 939 $ 3,588 $ 3,428 $ 70 $ 3,498 Nine months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Consumer $ 188,340 $ 2,568 $ 190,908 $ 168,295 $ — $ 168,295 Professional 12,682 2,143 14,825 12,497 2,422 14,919 Total $ 201,022 $ 4,711 $ 205,733 $ 180,792 $ 2,422 $ 183,214

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with ASC 820, "Fair Value Measurements and Disclosures," certain of the Company's assets and liabilities, which are carried at fair value, are classified in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs, other than Level 1, or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data and reflect the Company’s own assumptions. The fair value hierarchy of the Company’s assets and liabilities carried at fair value and measured on a recurring basis was as follows (in thousands): Fair value measurements at the reporting date using September 30, 2019 Quoted prices in Significant other Significant Cash equivalents: money market and other funds $ 4,244 $ 4,244 $ — $ — Total assets at fair value $ 4,244 $ 4,244 $ — $ — Fair value measurements at the reporting date using December 31, 2018 Quoted prices in Significant other Significant Cash equivalents: money market and other funds $ 23,181 $ 23,181 $ — $ — Total assets at fair value $ 23,181 $ 23,181 $ — $ — Acquisition-related contingent consideration liability $ 1,275 $ — $ — $ 1,275 Total liabilities at fair value $ 1,275 $ — $ — $ 1,275 A reconciliation of Level 3 items measured at fair value on a recurring basis is as follows (in thousands): Acquisition-related contingent consideration liability: Balance as of December 31, 2018 $ 1,275 Payment (1,331) Foreign currency transaction loss 56 Balance as of September 30, 2019 $ — Cash equivalents are classified within Level 1 of the fair value hierarchy because the Company values them utilizing quoted prices in active markets. Unrealized gains and losses are included in "Accumulated other comprehensive loss" on the condensed consolidated balance sheets, and amounts reclassified out of comprehensive income (loss) into net income (loss) are determined on the basis of specific identification.

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The Company’s debt consisted of the following as of the periods indicated in the table below (in thousands): September 30, 2019 December 31, 2018 Principal Discount Debt issuance costs Net Principal Discount Debt issuance costs Net Senior secured credit facilities $ 390,000 $ (1,406) $ (5,769) $ 382,825 $ 265,000 $ (970) $ (3,640) $ 260,390 Senior secured credit facilities: The Company is party to a credit agreement with a syndicate of lenders, which provides for a term loan and revolving line of credit for working capital, capital expenditures and other general business needs (as amended, the "Blucora senior secured credit facilities" ). The Blucora senior secured credit facilities provide for up to $565.0 million of borrowings, consisting of a committed $65.0 million revolving credit facility (including a letter of credit sub-facility) and a $500.0 million term loan facility that mature on May 22, 2022 and May 22, 2024, respectively. Obligations under the Blucora senior secured credit facilities are guaranteed by certain of Blucora's subsidiaries and secured by substantially all of the assets of the Company and certain of its subsidiaries. The Blucora senior secured credit facilities include financial and operating covenants, including a consolidated total net leverage ratio, which are set forth in detail in the credit facility agreement. As of September 30, 2019, the Company was in compliance with all of the financial and operating covenants under the credit facility agreement. Commencing December 31, 2019, principal payments of the term loan are due on a quarterly basis in an amount equal to $312,500 (subject to reduction for prepayments), with the remaining principal amount due on the maturity date of May 22, 2024. The Company also has the right to prepay the term loan and outstanding amounts under the revolving credit facility without any premium or penalty (other than customary Eurodollar breakage costs). Prepayments on the term loan are subject to certain prepayment minimums. The Company may be required to make annual prepayments on the term loan in an amount equal to a percentage of excess cash flow of the Company during the applicable fiscal year from 0% to 50%, depending on the Consolidated First Lien Net Leverage Ratio (as defined in the credit facility agreement) for such fiscal year. The interest rate on the term loan is variable at the London Interbank Offered Rate, plus the applicable interest rate margin of 3.00% for Eurodollar Rate loans and 2.00% for ABR loans. Depending on the Company’s Consolidated First Lien Net Leverage Ratio (as defined in the credit facility agreement), the applicable interest rate margin on the revolving credit facility is from 2.75% to 3.25% for Eurodollar Rate loans and 1.75% to 2.25% for ABR loans. Interest is payable at the end of each interest period. As of September 30, 2019, the Company had not borrowed any amounts under the revolving credit facility.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	9 Months Ended
	Sep. 30, 2019
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interests	Redeemable Noncontrolling InterestsIn connection with the 2015 acquisition of HD Vest, the former management of HD Vest retained an ownership interest in that business. The Company was party to put and call arrangements that became exercisable beginning in the first quarter of 2019 with respect to those interests. These put and call arrangements allowed certain former members of HD Vest management to require the Company to purchase their interests or allow the Company to acquire such interests for cash, respectively, within ninety days after the Company filed its Annual Report on Form 10-K for the year ended December 31, 2018, which occurred on March 1, 2019. All of these arrangements were settled in cash for $24.9 million in the second quarter of 2019.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Significant events since the year ended December 31, 2018, outside of the ordinary course of the Company’s business, include debt activity (as discussed further in "Note 6: Debt"), purchase commitments of approximately $3.4 million over the next year from 1st Global, and sublease income of $1.3 million primarily related to the sublease agreement for the Company's former headquarters in Bellevue, Washington. Additional information on the Company’s commitments and contingencies can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Litigation and Other Matters: From time to time, the Company is subject to various legal proceedings, regulatory matters or fines, or claims that arise in the ordinary course of business. The Company accrues a liability when management believes that it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. Aside from the contingent liability described in "Note 3: Business Combinations," the Company is not currently party to any such matters for which it has incurred a liability on its consolidated balance sheets.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases The Company's leases are primarily related to office space. For the three and nine months ended September 30, 2019, the Company recognized operating lease costs of approximately $1.3 million and $3.6 million, respectively, in "General and administrative" expense on the condensed consolidated statements of comprehensive income (loss). For the three and nine months ended September 30, 2018, the Company recognized rent expense of approximately $0.7 million and $2.0 million, respectively, in "General and administrative" expense on the condensed consolidated statements of comprehensive income (loss). As of September 30, 2019, the Company's weighted-average remaining operating lease term was approximately 4.5 years, and its weighted-average operating lease discount rate was 5.4%. The maturities of the Company's operating lease liabilities as of September 30, 2019 are below. The Company's finance lease liabilities as of September 30, 2019 were $0.1 million. (in thousands) Undiscounted cash flows: 2019 (for the three months remaining in 2019) $ 3,971 2020 3,587 2021 1,136 2022 1,264 2023 1,292 2024 1,319 Thereafter $ 1,799 Total undiscounted cash flows $ 14,368 Imputed interest (1,466) Present value of cash flows $ 12,902 September 30, 2019 Short-term operating lease liabilities $ 4,115 Long-term operating lease liabilities 5,992 Total operating lease liabilities $ 10,107 Cash paid on operating lease liabilities was $3.4 million for the nine months ended September 30, 2019. Lease liabilities from new ROU assets obtained during the nine months ended September 30, 2019 were $6.7 million, primarily due to the Acquisition. In 2019, the Company signed a new corporate headquarters office lease, which is expected to commence in the first quarter of 2020.
Leases	Leases The Company's leases are primarily related to office space. For the three and nine months ended September 30, 2019, the Company recognized operating lease costs of approximately $1.3 million and $3.6 million, respectively, in "General and administrative" expense on the condensed consolidated statements of comprehensive income (loss). For the three and nine months ended September 30, 2018, the Company recognized rent expense of approximately $0.7 million and $2.0 million, respectively, in "General and administrative" expense on the condensed consolidated statements of comprehensive income (loss). As of September 30, 2019, the Company's weighted-average remaining operating lease term was approximately 4.5 years, and its weighted-average operating lease discount rate was 5.4%. The maturities of the Company's operating lease liabilities as of September 30, 2019 are below. The Company's finance lease liabilities as of September 30, 2019 were $0.1 million. (in thousands) Undiscounted cash flows: 2019 (for the three months remaining in 2019) $ 3,971 2020 3,587 2021 1,136 2022 1,264 2023 1,292 2024 1,319 Thereafter $ 1,799 Total undiscounted cash flows $ 14,368 Imputed interest (1,466) Present value of cash flows $ 12,902 September 30, 2019 Short-term operating lease liabilities $ 4,115 Long-term operating lease liabilities 5,992 Total operating lease liabilities $ 10,107 Cash paid on operating lease liabilities was $3.4 million for the nine months ended September 30, 2019. Lease liabilities from new ROU assets obtained during the nine months ended September 30, 2019 were $6.7 million, primarily due to the Acquisition. In 2019, the Company signed a new corporate headquarters office lease, which is expected to commence in the first quarter of 2020.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded income tax benefit of $12.3 million and $16.5 million in the three and nine months ended September 30, 2019, respectively. The Company's effective income tax rate differed from the 21% statutory rate in the three and nine months ended September 30, 2019, primarily due to the release of valuation allowances, offset by the effect of state income taxes, non-deductible compensation and acquisition costs. In the three months ended September 30, 2019, the Company’s discrete benefit of $10.6 million primarily related to the HD Vest trade name impairment and impacts associated with the Acquisition. The Company recorded income tax benefit of $0.8 million and expense of $2.1 million in the three and nine months ended September 30, 2018, respectively. Income taxes differed from the 21% statutory rate in three and nine months ended September 30, 2018, primarily due to the release of valuation allowances and the effect of state income taxes.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share "Basic net income (loss) per share" is computed using the weighted average number of common shares outstanding during the period. "Diluted net income (loss) per share" is computed using the weighted average number of common shares outstanding plus the number of dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of the incremental common shares issuable upon the exercise of outstanding stock options and the vesting of unvested RSUs. The computation of basic and diluted net income (loss) per share attributable to Blucora, Inc. is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Numerator: Income (loss) $ (62,386) $ (13,737) $ 30,820 $ 67,269 Net income attributable to noncontrolling interests — (227) — (654) Adjustment of redeemable noncontrolling interests — (3,537) — (3,537) Net income (loss) attributable to Blucora, Inc. $ (62,386) $ (17,501) $ 30,820 $ 63,078 Denominator: Weighted average common shares outstanding, basic 48,652 47,712 48,456 47,191 Dilutive potential common shares — — 1,140 2,101 Weighted average common shares outstanding, diluted 48,652 47,712 49,596 49,292 Net income (loss) per share attributable to Blucora, Inc.: Basic $ (1.28) $ (0.37) $ 0.64 $ 1.34 Diluted $ (1.28) $ (0.37) $ 0.62 $ 1.28 Shares excluded 3,084 3,675 1,217 441 Shares were excluded from the computation of diluted earnings per common share for these periods because their effect would have been anti-dilutive.

Intangible Asset Impairment

Intangible Asset Impairment	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Asset Impairment	Intangible Asset Impairment The carrying value of the Company's indefinite-lived intangible asset related to the HD Vest trade name prior to the Rebranding was $52.5 million. In connection with the Rebranding, HD Vest was renamed Avantax Wealth Management in mid-September 2019. Accordingly, the Company evaluated the HD Vest trade name indefinite-lived asset by performing a quantitative impairment test of that intangible asset. This test compared the carrying value of the HD Vest trade name asset to its fair value, and resulted in an impairment charge of approximately $50.9 million for the three and nine months ended September 30, 2019 on the condensed consolidated statements of comprehensive income (loss). Following the impairment, the remaining useful life of the HD Vest trade name asset was estimated to be three years. Fair value was estimated using the present value of future discounted cash flows, an income approach. The significant estimates used in the discounted cash flow model include the weighted-average cost of capital and long-term rates of revenue growth. The weighted-average cost of capital considered the relevant risk associated with business-specific characteristics and the uncertainty related to the ability to achieve the projected cash flows. These estimates and the resulting valuations required significant judgment.

Disposition of SimpleTax

Disposition of SimpleTax	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Disposition of SimpleTax	Disposition of SimpleTax On September 4, 2019, the Company completed the disposition of all of the issued and outstanding stock of SimpleTax Software Inc. ( "SimpleTax" ), which was a provider of digital tax preparation services in Canada, for approximately $9.6 million. This amount was received in the third quarter of 2019 and is included in "Proceeds from sale of a business, net of cash" on the condensed consolidated statements of cash flows. The Company also recognized a gain on the sale of approximately $3.3 million in "Other loss, net" on the condensed consolidated statements of comprehensive income (loss). The SimpleTax sale did not meet the requisite criteria to constitute discontinued operations, as the historical results of SimpleTax were not material to the Company’s consolidated results of operations. Prior to its sale, the operations of SimpleTax were included in the Company's operating results as part of the Tax Preparation segment. Summarized financial information for SimpleTax prior to the sale was as follows (in thousands): September 3, 2019 December 31, 2018 Major classes of assets and liabilities: Cash $ 2,199 $ 1,088 Accounts receivable 12 27 Intangible assets 119 143 Goodwill 4,199 4,102 Total assets 6,528 5,360 Accrued expenses and other current liabilities $ 102 $ 77 Long-term liabilities 38 37 Total liabilities 140 114

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Segments	Segments: T he Company has two reportable segments: the Wealth Management segment and the Tax Preparation segment.
Reclassification	Reclassification : The Company reclassified approximately $0.7 million from long-term assets to current assets related to loans given to several HD Vest advisors on its December 31, 2018 consolidated balance sheet.
Interim financial information	Interim financial information: The accompanying condensed consolidated financial statements have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission (the "SEC" ) for interim financial reporting. These condensed consolidated financial statements are unaudited and, in management’s opinion, include all adjustments, consisting of normal recurring adjustments and accruals, necessary for a fair presentation of the consolidated financial position, results of operations, and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ( "GAAP" ) have been omitted in accordance with the rules and regulations of the SEC. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Part II, Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Interim results are not necessarily indicative of results for a full year.
Cash, cash equivalents, and restricted cash	Cash, cash equivalents, and restricted cash: The following table presents cash, cash equivalents, and restricted cash as reported on the consolidated balance sheets that equal the total amounts on the condensed consolidated statements of cash flows (in thousands): September 30, December 31, 2019 2018 2018 Cash and cash equivalents $ 97,466 $ 88,274 $ 84,524 Cash segregated under federal or other regulations 1,284 317 842 Total cash, cash equivalents, and restricted cash $ 98,750 $ 88,591 $ 85,366 Cash segregated under federal and other regulations is held in a separate bank account for the exclusive benefit of the Company’s Wealth Management customers. Restricted cash is pledged as collateral for certain of the Company's banking and lease arrangements, and is included in prepaid expenses and other current assets, net and other long-term assets.
Business combinations and intangible assets including goodwill	Business combinations and intangible assets including goodwill: We account for business combinations using the acquisition method. The purchase price of the Acquisition has been allocated to 1st Global’s tangible assets, identifiable intangible assets, and assumed liabilities based on their estimated fair values at the time of the Acquisition. This allocation involves a number of assumptions, estimates, and judgments that could materially affect the timing or amounts recognized in the Company's financial statements. The most subjective areas include determining the fair value of the following: • intangible assets, including the valuation methodology, estimations of future cash flows, discount rates, growth rates, as well as the estimated useful life of intangible assets; • deferred tax assets and liabilities and uncertain tax positions, which are initially estimated as of the Acquisition date; • pre-existing liabilities or legal claims, and deferred revenue, in each case as may be applicable; and • goodwill as measured as the excess of consideration transferred over the net of the Acquisition date fair values of the assets acquired and the liabilities assumed. The Company's assumptions and estimates are based upon comparable market data and information obtained from the Company's management and the management of 1st Global.
Intangible asset impairment	Intangible asset impairment: The Company evaluates indefinite-lived intangible assets for impairment annually, as of November 30, or more frequently when events or circumstances indicate that impairment may have occurred. The Company evaluated the HD Vest trade name indefinite-lived asset following the Rebranding by performing a quantitative impairment test of that intangible asset. This test compared the carrying value of the HD Vest trade name intangible asset to its fair value. Fair value typically is estimated using the present value of future discounted cash flows, an income approach. The significant estimates in the discounted cash flow model include the weighted-average cost of capital and long-term rates of revenue growth and/or profitability of our businesses. The weighted-average cost of capital considers the relevant risk associated with business-specific characteristics and the uncertainty related to the ability to achieve the projected cash flows. These estimates and the resulting valuations require significant judgment. See "Note 12: Intangible Asset Impairment" for further discussion.
Fair value of financial instruments	Fair value of financial instruments: The Company measures its cash equivalents at fair value. The Company considers the carrying values of accounts receivable, commissions receivable, other receivables, prepaid expenses, other current assets, accounts payable, commissions and advisory fees payable, accrued expenses, and other current liabilities to approximate fair values primarily due to their short-term natures.
Concentration of credit risk	Concentration of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term investments, trade accounts receivable, and commissions receivable. These instruments are generally unsecured and uninsured. For cash equivalents, short-term investments, and commissions receivable, the Company attempts to manage exposure to counterparty credit risk by only entering into agreements with major financial institutions and investment sponsors that are expected to be able to fully perform under the terms of their respective agreements. Accounts receivable are typically unsecured and are derived from revenues earned from customers primarily located in the United States operating in a variety of geographic areas. The Company performs ongoing credit evaluations of its customers and maintains allowances for potential credit losses.
Recent accounting pronouncements	Recent accounting pronouncements: Changes to GAAP are established by the Financial Accounting Standards Board ( "FASB" ) in the form of accounting standards updates ( "ASUs" ) to the FASB’s Accounting Standards Codification ( "ASC" ). The Company considers the applicability and impact of all recent ASUs. ASUs and ASCs not listed below were assessed and either were determined to not be applicable or are expected to have minimal impact on the Company’s consolidated financial position and results of operations. The Company currently is evaluating, or has adopted, ASUs and ASCs that impact the following areas: Leases (ASU 2016-02) - In February 2016, the FASB issued guidance codified in ASC 842, "Leases" ( "ASC 842" ), which supersedes the guidance in ASC 840 "Leases." Under ASC 842, lease assets and liabilities, whether arising from leases that are considered operating or finance (capital) will be recognized on the balance sheet. Lease liabilities are measured as the present value of unpaid lease payments for operating leases where the Company is the lessee, and a corresponding right-of-use ( "ROU" ) asset is recognized for the right to use the leased assets. This guidance became effective on a modified retrospective basis-with various practical expedients related to leases that commenced before the effective date-for annual reporting periods, including interim reporting periods within those annual reporting periods, beginning after December 15, 2018. Prior comparable periods are presented in accordance with accounting guidance under ASC 840 "Leases" and were not restated. The Company adopted ASC 842 on January 1, 2019 for all open leases with a term greater than one year as of the adoption date, using the modified retrospective method of adoption with a cumulative effect adjustment to retained earnings. The Company elected the package of practical expedients, for which there is no requirement to reassess lease existence, classification and initial direct costs, the hindsight practical expedient, for which the Company used hindsight in determining certain lease terms, and the short-term lease expedient, for which the Company considered all open leases with a term greater than one year as of the adoption date. The adoption resulted in $6.6 million of additional operating lease assets, $9.1 million of additional operating lease liabilities, and a $1.6 million adjustment to the opening balance of retained earnings as a result of reevaluating certain of the Company's lease terms as of the adoption date. The Company also reclassified, upon adoption, $0.9 million of other lease-related balances to reduce the measurement of lease assets. The Company's lease terms are contractually fixed but may include extension or termination options reasonably assured to be exercised at lease inception, which are included in the recognition of ROU assets and lease liabilities. The Company’s leases do not contain residual value guarantees or material variable lease payments. The Company does not have any material restrictions or covenants imposed by leases that would impact the Company’s ability to pay dividends or cause the Company to incur additional financial obligations. The Company’s leases are not complex; therefore, there were no significant assumptions or judgments made in applying the requirements of ASC 842, including the determination of whether the contracts contained a lease, the allocation of consideration in the contracts between lease and non-lease components, and the determination of the discount rates for the leases. Measurement of Credit Losses (ASU 2016-13) - In June 2016, the FASB issued an ASU that requires companies to measure credit losses utilizing a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU is effective for fiscal years beginning after December 15, 2019, including the interim periods within those fiscal years. The Company is currently assessing the impact of adopting this ASU, but based on a preliminary assessment, does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table presents cash, cash equivalents, and restricted cash as reported on the consolidated balance sheets that equal the total amounts on the condensed consolidated statements of cash flows (in thousands): September 30, December 31, 2019 2018 2018 Cash and cash equivalents $ 97,466 $ 88,274 $ 84,524 Cash segregated under federal or other regulations 1,284 317 842 Total cash, cash equivalents, and restricted cash $ 98,750 $ 88,591 $ 85,366
Summary of Summary of Changes in Carrying Value of Goodwill	The following table presents c hanges in the carrying value of goodwill by reportable segment during the nine months ended September 30, 2019, in thousands: December 31, 2018 Acquired Disposed September 30, 2019 Wealth Management $ 356,042 $ 118,422 $ — $ 474,464 Tax Preparation 192,643 — (4,102) 188,541 Total goodwill $ 548,685 $ 118,422 $ (4,102) $ 663,005

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Preliminary Fair Values of Assets and Liabilities Assumed	The preliminary fair values of assets acquired and liabilities assumed in the Acquisition were as follows (in thousands): Tangible assets acquired, including cash of $12,389 $ 37,153 Goodwill 118,422 Identifiable intangible assets 85,240 Contingent liability (11,052) Deferred revenues (17,715) Other current liabilities (12,956) Deferred tax liabilities, net (19,092) Total $ 180,000 Cash paid at Acquisition date $ 176,850 Cash to be paid after Acquisition date 3,150
Identifiable Intangible Assets Acquired	The identifiable intangible assets were as follows (in thousands, except as otherwise indicated): Estimated Fair Value Accumulated Amortization through September 30, 2019 Weighted Average Estimated Useful Life (in months) Advisor relationships $ 78,400 $ 2,204 204 Developed technology 2,980 567 29 Favorable lease 1,260 73 84 Trade name 1,000 135 36 Training materials 900 121 36 Sponsor relationships 700 24 144 Total identified intangible assets $ 85,240 $ 3,124 192
Pro Forma Financial Information	The following pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved had the Acquisition occurred at the beginning of the period presented (amounts in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Revenue $ 149,016 $ 138,566 $ 627,824 $ 588,342 Net income (loss) $ (62,386) $ (14,147) $ 18,877 $ 58,235

Segment Information and Reven_2

Segment Information and Revenues (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Information on Reportable Segments for Reconciliation to Consolidated Net Income	Information on reportable segments currently presented to the Company’s chief operating decision maker and a reconciliation to consolidated net income (loss) are presented below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Revenue: Wealth Management $ 145,428 $ 91,887 $ 362,791 $ 275,984 Tax Preparation 3,588 3,498 205,733 183,214 Total revenue 149,016 95,385 568,524 459,198 Operating income (loss): Wealth Management 20,631 12,891 49,150 38,920 Tax Preparation (12,075) (6,936) 108,565 95,991 Corporate-level activity (80,667) (16,647) (131,683) (53,740) Total operating income (loss) (72,111) (10,692) 26,032 81,171 Other loss, net (2,606) (3,863) (11,682) (11,850) Income tax benefit (expense) 12,331 818 16,470 (2,052) Net income (loss) $ (62,386) $ (13,737) $ 30,820 $ 67,269
Schedule of Segment Reporting Information, by Segment	Revenues by major category within each segment are presented below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Wealth Management: Commission $ 52,623 $ 41,015 $ 137,851 $ 124,269 Advisory 75,579 41,443 176,746 120,802 Asset-based 13,618 6,979 36,530 21,457 Transaction and fee 3,608 2,450 11,664 9,456 Total Wealth Management revenue $ 145,428 $ 91,887 $ 362,791 $ 275,984 Tax Preparation: Consumer $ 4,280 $ 3,246 $ 190,908 $ 168,295 Professional (692) 252 14,825 14,919 Total Tax Preparation revenue $ 3,588 $ 3,498 $ 205,733 $ 183,214
Wealth Management
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	Details of Wealth Management revenues are (in thousands): Three months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Commission revenue $ 23,195 $ 29,428 $ 52,623 $ 16,929 $ 24,086 $ 41,015 Advisory revenue — 75,579 75,579 — 41,443 41,443 Asset-based revenue — 13,618 13,618 — 6,979 6,979 Transaction and fee revenue 1,054 2,554 3,608 576 1,874 2,450 Total $ 24,249 $ 121,179 $ 145,428 $ 17,505 $ 74,382 $ 91,887 Nine months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Commission revenue $ 59,348 $ 78,503 $ 137,851 $ 51,193 $ 73,076 $ 124,269 Advisory revenue — 176,746 176,746 — 120,802 120,802 Asset-based revenue — 36,530 36,530 — 21,457 21,457 Transaction and fee revenue 2,624 9,040 11,664 2,573 6,883 9,456 Total $ 61,972 $ 300,819 $ 362,791 $ 53,766 $ 222,218 $ 275,984
Tax Preparation
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	Details of Tax Preparation revenues are (in thousands): Three months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Consumer $ 3,268 $ 1,012 $ 4,280 $ 3,246 $ — $ 3,246 Professional (619) (73) (692) 182 70 252 Total $ 2,649 $ 939 $ 3,588 $ 3,428 $ 70 $ 3,498 Nine months ended September 30, 2019 2018 Recognized Upon Transaction Recognized Over Time Total Recognized Upon Transaction Recognized Over Time Total Consumer $ 188,340 $ 2,568 $ 190,908 $ 168,295 $ — $ 168,295 Professional 12,682 2,143 14,825 12,497 2,422 14,919 Total $ 201,022 $ 4,711 $ 205,733 $ 180,792 $ 2,422 $ 183,214

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value and Measured on Recurring Basis	The fair value hierarchy of the Company’s assets and liabilities carried at fair value and measured on a recurring basis was as follows (in thousands): Fair value measurements at the reporting date using September 30, 2019 Quoted prices in Significant other Significant Cash equivalents: money market and other funds $ 4,244 $ 4,244 $ — $ — Total assets at fair value $ 4,244 $ 4,244 $ — $ — Fair value measurements at the reporting date using December 31, 2018 Quoted prices in Significant other Significant Cash equivalents: money market and other funds $ 23,181 $ 23,181 $ — $ — Total assets at fair value $ 23,181 $ 23,181 $ — $ — Acquisition-related contingent consideration liability $ 1,275 $ — $ — $ 1,275 Total liabilities at fair value $ 1,275 $ — $ — $ 1,275
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	A reconciliation of Level 3 items measured at fair value on a recurring basis is as follows (in thousands): Acquisition-related contingent consideration liability: Balance as of December 31, 2018 $ 1,275 Payment (1,331) Foreign currency transaction loss 56 Balance as of September 30, 2019 $ —

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Company's Debt	The Company’s debt consisted of the following as of the periods indicated in the table below (in thousands): September 30, 2019 December 31, 2018 Principal Discount Debt issuance costs Net Principal Discount Debt issuance costs Net Senior secured credit facilities $ 390,000 $ (1,406) $ (5,769) $ 382,825 $ 265,000 $ (970) $ (3,640) $ 260,390

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Maturities of Operating Lease Liabilities	The maturities of the Company's operating lease liabilities as of September 30, 2019 are below. The Company's finance lease liabilities as of September 30, 2019 were $0.1 million. (in thousands) Undiscounted cash flows: 2019 (for the three months remaining in 2019) $ 3,971 2020 3,587 2021 1,136 2022 1,264 2023 1,292 2024 1,319 Thereafter $ 1,799 Total undiscounted cash flows $ 14,368 Imputed interest (1,466) Present value of cash flows $ 12,902 September 30, 2019 Short-term operating lease liabilities $ 4,115 Long-term operating lease liabilities 5,992 Total operating lease liabilities $ 10,107
Supplemental Balance Sheet Information Related to Leases	The maturities of the Company's operating lease liabilities as of September 30, 2019 are below. The Company's finance lease liabilities as of September 30, 2019 were $0.1 million. (in thousands) Undiscounted cash flows: 2019 (for the three months remaining in 2019) $ 3,971 2020 3,587 2021 1,136 2022 1,264 2023 1,292 2024 1,319 Thereafter $ 1,799 Total undiscounted cash flows $ 14,368 Imputed interest (1,466) Present value of cash flows $ 12,902 September 30, 2019 Short-term operating lease liabilities $ 4,115 Long-term operating lease liabilities 5,992 Total operating lease liabilities $ 10,107

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Summary of Dilutive Effect for Awards with Exercise Price Less Than Average Stock Price	The computation of basic and diluted net income (loss) per share attributable to Blucora, Inc. is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Numerator: Income (loss) $ (62,386) $ (13,737) $ 30,820 $ 67,269 Net income attributable to noncontrolling interests — (227) — (654) Adjustment of redeemable noncontrolling interests — (3,537) — (3,537) Net income (loss) attributable to Blucora, Inc. $ (62,386) $ (17,501) $ 30,820 $ 63,078 Denominator: Weighted average common shares outstanding, basic 48,652 47,712 48,456 47,191 Dilutive potential common shares — — 1,140 2,101 Weighted average common shares outstanding, diluted 48,652 47,712 49,596 49,292 Net income (loss) per share attributable to Blucora, Inc.: Basic $ (1.28) $ (0.37) $ 0.64 $ 1.34 Diluted $ (1.28) $ (0.37) $ 0.62 $ 1.28 Shares excluded 3,084 3,675 1,217 441

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups (Tables)	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Summarized Financial Information for SimpleTax Prior to Sale	Summarized financial information for SimpleTax prior to the sale was as follows (in thousands): September 3, 2019 December 31, 2018 Major classes of assets and liabilities: Cash $ 2,199 $ 1,088 Accounts receivable 12 27 Intangible assets 119 143 Goodwill 4,199 4,102 Total assets 6,528 5,360 Accrued expenses and other current liabilities $ 102 $ 77 Long-term liabilities 38 37 Total liabilities 140 114

Description of the Business (De

Description of the Business (Details) $ in Thousands	May 06, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Segment	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Number of reportable segments | Segment				2
Impairment of intangible asset		$ 50,900	$ 0	$ 50,900	$ 0
Reclassification from long-term assets to current assets, loans given to HD Vest advisors						$ 700
Term Loan | Senior Secured Credit Facility
Business Acquisition [Line Items]
Aggregate principal amount	$ 125,000
1st Global
Business Acquisition [Line Items]
Purchase price	$ 180,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 97,466	$ 84,524	$ 88,274
Cash segregated under federal or other regulations	1,284	842	317
Total cash, cash equivalents, and restricted cash	$ 98,750	$ 85,366	$ 88,591	$ 62,311

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 548,685
Acquired	118,422
Disposed	(4,102)
Goodwill, ending balance	663,005
Wealth Management
Goodwill [Roll Forward]
Goodwill, beginning balance	356,042
Acquired	118,422
Disposed	0
Goodwill, ending balance	474,464
Tax Preparation
Goodwill [Roll Forward]
Goodwill, beginning balance	192,643
Acquired	0
Disposed	(4,102)
Goodwill, ending balance	$ 188,541

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use lease asset	$ 10,199
Lease liability	$ 10,107
Cumulative effect on company's unaudited quarterly results		$ (1,636)	$ 1,851
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use lease asset		6,600
Lease liability		9,100
Cumulative effect on company's unaudited quarterly results		1,600
Leases, Other		$ 900

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands	May 06, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Amortization of other acquired intangible assets		$ 10,082	$ 8,271	$ 27,295	$ 25,384
1st Global
Business Acquisition [Line Items]
Purchase price	$ 180,000
Amortization of other acquired intangible assets		2,000		3,100
Contingent liability related to regulatory inquiry	10,000	11,100		11,100
Cash to be paid after acquisition date	3,150
Payment after acquisition to employees of 1st Global		$ 2,100
Gross contractual amount of acquired accounts receivable, including commissions receivable	$ 6,700
Transaction costs associated with acquisition				6,500
Revenue of acquiree from date of acquisition				73,000
Loss before income taxes of acquiree from date of acquisition				$ 100

Business Combinations - Fair Va

Business Combinations - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	May 06, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 663,005		$ 663,005		$ 548,685
1st Global
Business Acquisition [Line Items]
Tangible assets acquired, including cash of $12,389	$ 37,153
Cash	12,389
Goodwill	118,422
Identifiable intangible assets	85,240
Contingent liability	(11,052)
Deferred revenues	(17,715)
Other current liabilities	(12,956)
Deferred tax liabilities, net	(19,092)
Total	180,000
Cash paid at Acquisition date	176,850
Cash to be paid after Acquisition date	$ 3,150
Revenue		149,016	$ 138,566	627,824	$ 588,342
Net income (loss)		$ (62,386)	$ (14,147)	$ 18,877	$ 58,235

Business Combinations - Identif

Business Combinations - Identified Intangible Assets (Details) - USD ($) $ in Thousands	May 06, 2019	Sep. 30, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization through September 30, 2019		$ 3,124
Weighted Average Estimated Useful Life (in months)	192 months
1st Global
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 85,240
1st Global | Advisor relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 78,400
Accumulated Amortization through September 30, 2019		2,204
Weighted Average Estimated Useful Life (in months)	204 months
1st Global | Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 2,980
Accumulated Amortization through September 30, 2019		567
Weighted Average Estimated Useful Life (in months)	29 months
1st Global | Favorable lease
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 1,260
Accumulated Amortization through September 30, 2019		73
Weighted Average Estimated Useful Life (in months)	84 months
1st Global | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 1,000
Accumulated Amortization through September 30, 2019		135
Weighted Average Estimated Useful Life (in months)	36 months
1st Global | Training materials
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 900
Accumulated Amortization through September 30, 2019		121
Weighted Average Estimated Useful Life (in months)	36 months
1st Global | Sponsor relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 700
Accumulated Amortization through September 30, 2019		$ 24
Weighted Average Estimated Useful Life (in months)	144 months

Business Combinations - Pro For

Business Combinations - Pro Forma Financial Information (Details) - 1st Global - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 149,016	$ 138,566	$ 627,824	$ 588,342
Net income (loss)	$ (62,386)	$ (14,147)	$ 18,877	$ 58,235

Segment Information and Reven_3

Segment Information and Revenues - Information on Reportable Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Segment	Sep. 30, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			2
Revenue:
Revenues	$ 149,016	$ 95,385	$ 568,524	$ 459,198
Operating income:
Total operating income (loss)	(72,111)	(10,692)	26,032	81,171
Other loss, net	(2,606)	(3,863)	(11,682)	(11,850)
Income tax benefit (expense)	12,331	818	16,470	(2,052)
Net income (loss)	(62,386)	(13,737)	30,820	67,269
Corporate-level activity
Operating income:
Total operating income (loss)	(80,667)	(16,647)	(131,683)	(53,740)
Segment Reconciling Items
Operating income:
Other loss, net	(2,606)	(3,863)	(11,682)	(11,850)
Income tax benefit (expense)	12,331	818	16,470	(2,052)
Wealth Management
Revenue:
Revenues	145,428	91,887	362,791	275,984
Wealth Management | Commission revenue
Revenue:
Revenues	52,623	41,015	137,851	124,269
Wealth Management | Advisory revenue
Revenue:
Revenues	75,579	41,443	176,746	120,802
Wealth Management | Asset-based revenue
Revenue:
Revenues	13,618	6,979	36,530	21,457
Wealth Management | Transaction and fee revenue
Revenue:
Revenues	3,608	2,450	11,664	9,456
Wealth Management | Operating Segments
Revenue:
Revenues	145,428	91,887	362,791	275,984
Operating income:
Total operating income (loss)	20,631	12,891	49,150	38,920
Tax Preparation
Revenue:
Revenues	3,588	3,498	205,733	183,214
Tax Preparation | Consumer
Revenue:
Revenues	4,280	3,246	190,908	168,295
Tax Preparation | Professional
Revenue:
Revenues	(692)	252	14,825	14,919
Tax Preparation | Operating Segments
Revenue:
Revenues	3,588	3,498	205,733	183,214
Operating income:
Total operating income (loss)	$ (12,075)	$ (6,936)	$ 108,565	$ 95,991

Segment Information and Reven_4

Segment Information and Revenues - Details of Wealth Management Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 149,016	$ 95,385	$ 568,524	$ 459,198
Wealth Management
Disaggregation of Revenue [Line Items]
Revenues	145,428	91,887	362,791	275,984
Wealth Management | Recognized Upon Transaction
Disaggregation of Revenue [Line Items]
Revenues	24,249	17,505	61,972	53,766
Wealth Management | Recognized Over Time
Disaggregation of Revenue [Line Items]
Revenues	121,179	74,382	300,819	222,218
Wealth Management | Commission revenue
Disaggregation of Revenue [Line Items]
Revenues	52,623	41,015	137,851	124,269
Wealth Management | Commission revenue | Recognized Upon Transaction
Disaggregation of Revenue [Line Items]
Revenues	23,195	16,929	59,348	51,193
Wealth Management | Commission revenue | Recognized Over Time
Disaggregation of Revenue [Line Items]
Revenues	29,428	24,086	78,503	73,076
Wealth Management | Advisory revenue
Disaggregation of Revenue [Line Items]
Revenues	75,579	41,443	176,746	120,802
Wealth Management | Advisory revenue | Recognized Upon Transaction
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Wealth Management | Advisory revenue | Recognized Over Time
Disaggregation of Revenue [Line Items]
Revenues	75,579	41,443	176,746	120,802
Wealth Management | Asset-based revenue
Disaggregation of Revenue [Line Items]
Revenues	13,618	6,979	36,530	21,457
Wealth Management | Asset-based revenue | Recognized Upon Transaction
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Wealth Management | Asset-based revenue | Recognized Over Time
Disaggregation of Revenue [Line Items]
Revenues	13,618	6,979	36,530	21,457
Wealth Management | Transaction and fee revenue
Disaggregation of Revenue [Line Items]
Revenues	3,608	2,450	11,664	9,456
Wealth Management | Transaction and fee revenue | Recognized Upon Transaction
Disaggregation of Revenue [Line Items]
Revenues	1,054	576	2,624	2,573
Wealth Management | Transaction and fee revenue | Recognized Over Time
Disaggregation of Revenue [Line Items]
Revenues	$ 2,554	$ 1,874	$ 9,040	$ 6,883

Segment Information and Reven_5

Segment Information and Revenues - Details of Tax Preparation Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 149,016	$ 95,385	$ 568,524	$ 459,198
Tax Preparation
Disaggregation of Revenue [Line Items]
Revenues	3,588	3,498	205,733	183,214
Tax Preparation | Consumer
Disaggregation of Revenue [Line Items]
Revenues	4,280	3,246	190,908	168,295
Tax Preparation | Professional
Disaggregation of Revenue [Line Items]
Revenues	(692)	252	14,825	14,919
Tax Preparation | Recognized Upon Transaction
Disaggregation of Revenue [Line Items]
Revenues	2,649	3,428	201,022	180,792
Tax Preparation | Recognized Upon Transaction | Consumer
Disaggregation of Revenue [Line Items]
Revenues	3,268	3,246	188,340	168,295
Tax Preparation | Recognized Upon Transaction | Professional
Disaggregation of Revenue [Line Items]
Revenues	(619)	182	12,682	12,497
Tax Preparation | Recognized Over Time
Disaggregation of Revenue [Line Items]
Revenues	939	70	4,711	2,422
Tax Preparation | Recognized Over Time | Consumer
Disaggregation of Revenue [Line Items]
Revenues	1,012	0	2,568	0
Tax Preparation | Recognized Over Time | Professional
Disaggregation of Revenue [Line Items]
Revenues	$ (73)	$ 70	$ 2,143	$ 2,422

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value and Measured on Recurring Basis (Detail) - Fair value measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Cash equivalents:
Total assets at fair value	$ 4,244	$ 23,181
LIABILITIES
Acquisition-related contingent consideration liability		1,275
Total liabilities at fair value		1,275
Money market and other funds
Cash equivalents:
Cash equivalents: money market and other funds	4,244	23,181
Quoted prices in active markets using identical  assets (Level 1)
Cash equivalents:
Total assets at fair value	4,244	23,181
LIABILITIES
Acquisition-related contingent consideration liability		0
Total liabilities at fair value		0
Quoted prices in active markets using identical  assets (Level 1) | Money market and other funds
Cash equivalents:
Cash equivalents: money market and other funds	4,244	23,181
Significant other observable inputs (Level 2)
Cash equivalents:
Total assets at fair value	0	0
LIABILITIES
Acquisition-related contingent consideration liability		0
Total liabilities at fair value		0
Significant other observable inputs (Level 2) | Money market and other funds
Cash equivalents:
Cash equivalents: money market and other funds	0	0
Significant unobservable inputs (Level 3)
Cash equivalents:
Total assets at fair value	0
LIABILITIES
Acquisition-related contingent consideration liability		1,275
Total liabilities at fair value		1,275
Significant unobservable inputs (Level 3) | Money market and other funds
Cash equivalents:
Cash equivalents: money market and other funds	$ 0	$ 0

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Fair Value Measured on Recurring Basis (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of December 31, 2018	$ 1,275
Payment	(1,331)
Foreign currency transaction loss	56
Balance as of September 30, 2019	$ 0

Debt - Schedule of Company's De

Debt - Schedule of Company's Debt (Detail) - Senior Secured Credit Facility - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal amount	$ 390,000	$ 265,000
Discount	(1,406)	(970)
Debt issuance costs	(5,769)	(3,640)
Net  carrying value	$ 382,825	$ 260,390

Debt - Narrative (Details)

Debt - Narrative (Details) - Senior Secured Credit Facility - USD ($)	May 06, 2019	Nov. 30, 2017	Sep. 30, 2019	Dec. 31, 2018	May 22, 2017
Debt Instrument [Line Items]
Credit facility					$ 565,000,000
Principal amount			$ 390,000,000	$ 265,000,000
Minimum
Debt Instrument [Line Items]
Required prepayment percentage			0.00%
Maximum
Debt Instrument [Line Items]
Required prepayment percentage			50.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility					65,000,000
Revolving Credit Facility | Eurodollar
Debt Instrument [Line Items]
Variable interest rate		3.00%
Revolving Credit Facility | Minimum | Eurodollar
Debt Instrument [Line Items]
Variable interest rate			2.75%
Revolving Credit Facility | Minimum | ABR
Debt Instrument [Line Items]
Variable interest rate			1.75%
Revolving Credit Facility | Maximum | Eurodollar
Debt Instrument [Line Items]
Variable interest rate			3.25%
Revolving Credit Facility | Maximum | ABR
Debt Instrument [Line Items]
Variable interest rate			2.25%
Term Loan
Debt Instrument [Line Items]
Principal amount					$ 500,000,000
Periodic payment	$ 312,500
Aggregate principal amount	$ 125,000,000
Term Loan | ABR
Debt Instrument [Line Items]
Variable interest rate		2.00%

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	Mar. 01, 2019	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Noncontrolling Interest [Abstract]
Put and call arrangements settled in cash		$ 24,900	$ 24,945	$ 0
Put and call arrangement, repurchase period	90 days

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments over the next year	$ 3.4
Sublease income	$ 1.3

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Leases [Abstract]
Operating lease costs	$ 1,300		$ 3,600
Rent expense		$ 700		$ 2,000
Weighted-average remaining operating lease term	4 years 6 months		4 years 6 months
Weighted-average operating lease discount rate	5.40%		5.40%
Finance lease liabilities	$ 100		$ 100
Operating Lease Liabilities, Payments Due [Abstract]
2019 (for the three months remaining in 2019)	3,971		3,971
2020	3,587		3,587
2021	1,136		1,136
2022	1,264		1,264
2023	1,292		1,292
2024	1,319		1,319
Thereafter	1,799		1,799
Total undiscounted cash flows	14,368		14,368
Imputed interest	(1,466)		(1,466)
Present value of cash flows	12,902		12,902
Short-term operating lease liabilities	4,115		4,115
Long-term operating lease liabilities	5,992		5,992
Total operating lease liabilities	$ 10,107		10,107
Operating lease liabilities			3,371
Lease liabilities from new ROU assets obtained			$ 6,700

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (12,331)	$ (818)	$ (16,470)	$ 2,052
Federal statutory rate	21.00%	21.00%	21.00%	21.00%
Discrete benefit related to HD Vest trade name impairment and impacts associated with the Acquisition	$ 10,600

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of Dilutive Effect for Awards with Exercise Price Less than Average Stock Price (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Income (loss)	$ (62,386)	$ (13,737)	$ 30,820	$ 67,269
Net income attributable to noncontrolling interests	0	(227)	0	(654)
Adjustment of redeemable noncontrolling interest	0	(3,537)	0	(3,537)
Net income (loss) attributable to Blucora, Inc.	$ (62,386)	$ (17,501)	$ 30,820	$ 63,078
Denominator:
Weighted average common shares outstanding, basic (in shares)	48,652	47,712	48,456	47,191
Dilutive potential common shares (in shares)	0	0	1,140	2,101
Weighted average common shares outstanding, diluted (in shares)	48,652	47,712	49,596	49,292
Net income (loss) per share attributable to Blucora, Inc.:
Basic (in USD per share)	$ (1.28)	$ (0.37)	$ 0.64	$ 1.34
Diluted (in USD per share)	$ (1.28)	$ (0.37)	$ 0.62	$ 1.28
Shares excluded (in shares)	3,084	3,675	1,217	441

Intangible Asset Impairment (De

Intangible Asset Impairment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 09, 2019
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible asset	$ 50,900	$ 0	$ 50,900	$ 0
HD Vest trade name
Indefinite-lived Intangible Assets [Line Items]
Carrying value of indefinite-lived intangible asset					$ 52,500
Impairment of intangible asset	$ 50,900		$ 50,900
Remaining useful life			3 years

Disposition of SimpleTax (Detai

Disposition of SimpleTax (Details) - Disposed of by Sale - SimpleTax - USD ($) $ in Thousands	Sep. 04, 2019	Sep. 30, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received	$ 9,600
Gain on sale	$ 3,300
Major classes of assets and liabilities:
Cash		$ 2,199	$ 1,088
Accounts receivable		12	27
Intangible assets		119	143
Goodwill		4,199	4,102
Total assets		6,528	5,360
Accrued expenses and other current liabilities		102	77
Long-term liabilities		38	37
Total liabilities		$ 140	$ 114

Uncategorized Items - bcor-2019

Label	Element	Value
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,851,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,636,000)