HealthStream (HSTM) 10-Q 27 Apr 23 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 24, 2023
Document Information [Line Items]
Entity Central Index Key	0001095565
Entity Registrant Name	HEALTHSTREAM INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-27701
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-1443555
Entity Address, Address Line One	500 11th Avenue North, Suite 1000
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203
City Area Code	615
Local Phone Number	301-3100
Title of 12(b) Security	Common Stock (Par Value $0.00)
Trading Symbol	HSTM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,682,518

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 48,836	$ 46,023
Marketable securities	9,818	7,885
Accounts receivable, net of allowance for doubtful accounts of $616 and $544 at March 31, 2023 and December 31, 2022, respectively	41,556	36,730
Accounts receivable - unbilled	5,732	5,980
Prepaid royalties, net of amortization	10,959	9,071
Other prepaid expenses and other current assets	8,207	8,688
Total current assets	125,108	114,377
Property and equipment, net of accumulated depreciation of $21,326 and $20,280 at March 31, 2023 and December 31, 2022, respectively	14,689	15,483
Capitalized software development, net of accumulated amortization of $110,182 and $105,025 at March 31, 2023 and December 31, 2022, respectively	38,460	37,118
Operating lease right of use assets, net	22,136	22,759
Goodwill	191,102	192,398
Deferred tax assets	383	383
Deferred commissions	27,122	28,344
Non-marketable equity investments	4,391	4,518
Other assets	662	808
Total assets	503,159	497,741
Current liabilities:
Accounts payable and accrued expenses	20,122	32,301
Accrued royalties	6,533	5,443
Deferred revenue	94,349	79,469
Total current liabilities	121,004	117,213
Deferred tax liabilities	18,787	17,996
Deferred revenue, noncurrent	2,562	2,937
Operating lease liability, noncurrent	22,572	23,321
Other long-term liabilities	2,195	2,210
Commitments and contingencies
Shareholders’ equity:
Common stock, no par value, 75,000 shares authorized; 30,682 and 30,579 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	254,986	254,832
Retained earnings	82,069	80,213
Accumulated other comprehensive loss	(1,016)	(981)
Total shareholders’ equity	336,039	334,064
Total liabilities and shareholders’ equity	503,159	497,741
Customer-Related Intangible Assets [Member]
Current assets:
Customer-related intangibles, net of accumulated amortization of $50,679 and $48,552 at March 31, 2023 and December 31, 2022, respectively	61,080	61,269
Other Intangible Assets [Member]
Current assets:
Customer-related intangibles, net of accumulated amortization of $50,679 and $48,552 at March 31, 2023 and December 31, 2022, respectively	$ 18,026	$ 20,284

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 616	$ 544
Accumulated amortization on property and equipment	21,326	20,280
Accumulated amortization on capitalized software development	$ 110,182	$ 105,025
Common stock, shares authorized (in shares)	75,000	75,000
Common stock, shares issued (in shares)	30,682	30,579
Common stock, shares outstanding (in shares)	30,682	30,579
Common stock, par value (in dollars per share)	$ 0	$ 0
Customer-Related Intangible Assets [Member]
Accumulated amortization on intangible assets	$ 50,679	$ 48,552
Other Intangible Assets [Member]
Accumulated amortization on intangible assets	$ 14,346	$ 12,818

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues, net	$ 68,946	$ 65,367
Operating costs and expenses:
Cost of revenues (excluding depreciation and amortization)	23,856	21,998
Product development	11,680	10,412
Sales and marketing	11,728	10,417
Other general and administrative expenses	8,865	9,183
Depreciation and amortization	9,926	9,322
Total operating costs and expenses	66,055	61,332
Operating income	2,891	4,035
Other income (loss), net	250	(276)
Income before income tax provision	3,141	3,759
Income tax provision	518	866
Net income	$ 2,623	$ 2,893
Net income per share:
Basic (in dollars per share)	$ 0.09	$ 0.09
Diluted (in dollars per share)	$ 0.09	$ 0.09
Weighted average shares of common stock outstanding:
Basic (in shares)	30,591	30,955
Diluted (in shares)	30,659	30,976
Dividends declared per share (in dollars per share)	$ 0.025	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 2,623	$ 2,893
Other comprehensive income, net of taxes:
Foreign currency translation adjustments	(33)	278
Unrealized loss on marketable securities	(2)	(6)
Total other comprehensive (loss) income	(35)	272
Comprehensive income	$ 2,588	$ 3,165

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock Including Additional Paid in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2021	31,327
Balance at Dec. 31, 2021	$ 270,791	$ 68,122	$ 106	$ 339,019
Net income	0	2,893	0	2,893
Comprehensive income (loss)	0	0	272	272
Stock-based compensation	$ 774	0	0	774
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)	83
Common stock issued under stock plans, net of shares withheld for employee taxes	$ (497)	0	0	(497)
Repurchase of common stock (in shares)	(892)
Repurchase of common stock	$ (19,889)	0	0	(19,889)
Balance (in shares) at Mar. 31, 2022	30,518
Balance at Mar. 31, 2022	$ 251,179	71,015	378	322,572
Balance (in shares) at Dec. 31, 2022	30,579
Balance at Dec. 31, 2022	$ 254,832	80,213	(981)	334,064
Net income	0	2,623	0	2,623
Comprehensive income (loss)	0	0	(35)	(35)
Dividends declared on common stock ($0.025 per share)	0	(767)	0	(767)
Stock-based compensation	$ 945	0	0	945
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)	103
Common stock issued under stock plans, net of shares withheld for employee taxes	$ (791)	0	0	(791)
Balance (in shares) at Mar. 31, 2023	30,682
Balance at Mar. 31, 2023	$ 254,986	$ 82,069	$ (1,016)	$ 336,039

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares		3 Months Ended
	Feb. 20, 2023	Mar. 31, 2023	Mar. 31, 2022
Dividends declared per share (in dollars per share)	$ 0.025	$ 0.025	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING ACTIVITIES:
Net income	$ 2,623,000	$ 2,893,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,926,000	9,322,000
Stock-based compensation	945,000	774,000
Amortization of deferred commissions	2,712,000	2,484,000
Provision for credit losses	209,000	6,000
Deferred income taxes	800,000	684,000
Loss on non-marketable equity investments	127,000	276,000
Other	(85,000)	26,000
Changes in operating assets and liabilities:
Accounts and unbilled receivables	4,787,000	5,874,000
Prepaid royalties	(1,889,000)	(2,033,000)
Other prepaid expenses and other current assets	482,000	952,000
Deferred commissions	(1,490,000)	(2,614,000)
Other assets	147,000	79,000
Accounts payable and accrued expenses	(4,773,000)	(3,653,000)
Accrued royalties	1,090,000	1,877,000
Deferred revenue	14,504,000	15,456,000
Net cash provided by operating activities	20,541,000	20,655,000
INVESTING ACTIVITIES:
Business combinations, net of cash acquired	(6,621,000)	(22,000)
Proceeds from maturities of marketable securities	1,000,000	5,025,000
Purchases of marketable securities	(2,850,000)	(2,024,000)
Payments associated with capitalized software development	(7,566,000)	(6,305,000)
Purchases of property and equipment	(879,000)	(636,000)
Net cash used in investing activities	(16,916,000)	(3,962,000)
FINANCING ACTIVITIES:
Taxes paid related to net settlement of equity awards	(791,000)	(497,000)
Repurchases of common stock	0	(19,726,000)
Net cash used in financing activities	(791,000)	(20,223,000)
Effect of exchange rate changes on cash and cash equivalents	(21,000)	(5,000)
Net increase (decrease) in cash and cash equivalents	2,813,000	(3,535,000)
Cash and cash equivalents at beginning of period	46,023,000	46,905,000
Cash and cash equivalents at end of period	$ 48,836,000	$ 43,370,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. OVERVIEW AND BASIS OF PRESENTATION Company Overview HealthStream provides primarily Software-as-a-Service (SaaS) based applications for healthcare organizations—all designed to improve business and clinical outcomes by supporting the people who deliver patient care. We are focused on helping healthcare organizations meet their ongoing clinical development, talent management, training, education, assessment, competency management, safety and compliance, scheduling, and provider credentialing, privileging, and enrollment needs. The Company is organized and operated according to our One HealthStream approach, with our hStream technology platform at the center of that approach. Increasingly, SaaS based applications in our diverse ecosystem of solutions utilize our proprietary hStream technology platform to enhance their value proposition by creating interoperability with and among other applications. As used in this Report, “HealthStream,” “Company,” “we,” “us,” and “our” mean HealthStream, Inc. and its subsidiaries unless the context indicates otherwise. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for interim financial information and with the instructions to Form 10‑Q 10 not three March 31, 2023 not may December 31, 2023. The Condensed Consolidated Balance Sheet at December 31, 2022 not December 31, 2022 10 February 28, 2023). Consolidated Segment Information Our business is managed and organized around a single platform strategy, also referred to as our One HealthStream approach. At the center of this single platform strategy is our hStream technology platform. By facilitating interoperability among our applications, as well as third As indicated in the Company’s Annual Report on Form 10 December 31, 2022, February 28, 2023, January 1, 2023, As the result of these developments, the Company determined that Workforce Solutions and Provider Solutions were no January 1, 2023, no two January 1, 2023, 10 three March 31, 2023. 2022 10

Note 2 - Revenue Recognition an

Note 2 - Revenue Recognition and Sales Commissions	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Revenue Recognition Revenues are recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled in exchange for transferring those goods or services. Revenue is recognized based on the following five • Identification of the contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation The following table represents revenues disaggregated by revenue source (in thousands). Sales taxes are excluded from revenues. Three Months Ended March 31, 2023 2022 Subscription services $ 66,015 $ 62,075 Professional services 2,931 3,292 Total revenues, net $ 68,946 $ 65,367 For the three March 31, 2023 2022 Deferred revenue represents contract liabilities that are recorded when cash payments are received or are due in advance of our satisfaction of performance obligations. During the three March 31, 2023 2022 March 31, 2023 44% Sales Commissions Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. The Company recorded amortization of deferred commissions of approximately $2.7 million and $2.5 million for the three March 31, 2023 2022

Note 3 - Income Taxes

Note 3 - Income Taxes	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	3. Income taxes are accounted for using the asset and liability method, whereby deferred tax assets and liabilities are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities measured at tax rates that will be in effect for the year in which the differences are expected to affect taxable income. The Company computes its interim period provision for income taxes by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusts the provision for discrete tax items recorded in the period. During the three March 31, 2023 2022 three March 31, 2023 2022 three March 31, 2023 three March 31, 2022

Note 4 - Shareholders' Equity

Note 4 - Shareholders' Equity	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Equity [Text Block]	4. SHAREHOLDERS EQUITY Dividends on Common Stock On February 20, 2023, April 28, 2023 April 17, 2023 first On April 24, 2023, second June 23, 2023 June 12, 2023 Stock-Based Compensation The Company has stock awards outstanding under its 2016 2022 three March 31, 2023 three March 31, 2022 2022 May 26, 2022 . not 2022 2022 not 2022 May 26, 2022) . During the three March 31, 2023 five 2023, 2024, 2025, 2026, 2027, first 2023 three March 31, 2023 not 2024, 2025, 2026, 2027, During the three March 31, 2022 , five 2022, 2023, 2024, 2025, 2026, second 2023 three March 31, 2023 not 2024, 2025, 2026, Total stock-based compensation expense recognized in the Condensed Consolidated Statements of Income is as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenues (excluding depreciation and amortization) $ 48 $ 38 Product development 167 125 Sales and marketing 113 83 Other general and administrative 617 528 Total stock-based compensation expense $ 945 $ 774 Share Repurchase Plan On March 14, 2022, November 1, 2021 March 13, 2023. three March 31, 2023.

Note 5 - Earnings Per Share

Note 5 - Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	5. EARNINGS PER SHARE Basic earnings per share is computed by dividing the net income available to common shareholders for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income available to common shareholders for the period by the weighted average number of potentially dilutive common and common equivalent shares outstanding during the period. Common equivalent shares are composed of incremental common shares issuable upon the exercise of stock options and RSUs subject to vesting. The dilutive effect of common equivalent shares is included in diluted earnings per share by application of the treasury stock method. The total number of common equivalent shares excluded from the calculations of diluted earnings per share, due to their anti-dilutive effect or contingent performance conditions, was approximately 268,000 and 218,000 for the three March 31, 2023 2022 The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended March 31, 2023 2022 Numerator: Net income $ 2,623 $ 2,893 Denominator: Weighted-average shares outstanding 30,591 30,955 Effect of dilutive shares 68 21 Weighted-average diluted shares 30,659 30,976 Net income per share: Basic $ 0.09 $ 0.09 Diluted $ 0.09 $ 0.09

Note 6 - Marketable Securities

Note 6 - Marketable Securities	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	6. The fair value of marketable securities, which were all classified as available for sale and which the Company does not March 31, 2023 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 9,818 $ 2 $ (2 ) $ 9,818 Total $ 9,818 $ 2 $ (2 ) $ 9,818 December 31, 2022 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 7,882 $ 3 $ — $ 7,885 Total $ 7,882 $ 3 $ — $ 7,885 The carrying amounts reported in the Condensed Consolidated Balance Sheets approximate fair value based on quoted market prices or alternative pricing sources and models utilizing market observable inputs. As of March 31, 2023 not one

Note 7 - Business Combination

Note 7 - Business Combination	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Business Combination Disclosure [Text Block]	7. BUSINESS COMBINATIONS On December 31, 2022 , 10 December 31, 2022 February 28, 2023, third three March 31, 2023, three March 31, 2023,

Note 8 - Debt

Note 8 - Debt	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	8. Revolving Credit Facility On October 28, 2020, November 24, 2014 October 28, 2023. may At the Company’s election, the borrowings under the Revolving Credit Facility bear interest at either ( 1 one 2 six October 28, 2023, no The purpose of the Revolving Credit Facility is for general working capital needs, permitted acquisitions (as defined in the Revolving Credit Facility), and for stock repurchase and/or redemption transactions that the Company may The Revolving Credit Facility contains certain covenants that, among other things, restrict additional indebtedness, liens and encumbrances, changes to the character of the Company’s business, acquisitions, asset dispositions, mergers and consolidations, sale or discount of receivables, creation or acquisitions of additional subsidiaries, and other matters customarily restricted in such agreements. In addition, the Revolving Credit Facility requires the Company to meet certain financial tests, including, without limitation: • a funded debt leverage ratio (consolidated debt/consolidated EBITDA) of not 1.0; • an interest coverage ratio (consolidated EBITDA/consolidated interest expense) of not 1.0. As of March 31, 2023 three March 31, 2023

Note 2 - Revenue Recognition _2

Note 2 - Revenue Recognition and Sales Commissions (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, 2023 2022 Subscription services $ 66,015 $ 62,075 Professional services 2,931 3,292 Total revenues, net $ 68,946 $ 65,367

Note 4 - Shareholders' Equity (

Note 4 - Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2023 2022 Cost of revenues (excluding depreciation and amortization) $ 48 $ 38 Product development 167 125 Sales and marketing 113 83 Other general and administrative 617 528 Total stock-based compensation expense $ 945 $ 774

Note 5 - Earnings Per Share (Ta

Note 5 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2023 2022 Numerator: Net income $ 2,623 $ 2,893 Denominator: Weighted-average shares outstanding 30,591 30,955 Effect of dilutive shares 68 21 Weighted-average diluted shares 30,659 30,976 Net income per share: Basic $ 0.09 $ 0.09 Diluted $ 0.09 $ 0.09

Note 6 - Marketable Securities

Note 6 - Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Debt Securities, Available-for-Sale [Table Text Block]	March 31, 2023 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 9,818 $ 2 $ (2 ) $ 9,818 Total $ 9,818 $ 2 $ (2 ) $ 9,818 December 31, 2022 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 7,882 $ 3 $ — $ 7,885 Total $ 7,882 $ 3 $ — $ 7,885

Note 2 - Revenue Recognition _3

Note 2 - Revenue Recognition and Sales Commissions 1 (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022
Accounts Receivable, Credit Loss Expense (Reversal)	$ 209,000	$ 6,000
Contract with Customer, Liability, Revenue Recognized	39,100,000	34,600,000
Revenue, Remaining Performance Obligation, Amount	$ 504,000,000
Revenue, Remaining Performance Obligation, Percentage	44%
Amortization of Deferred Sales Commissions	$ 2,712,000	$ 2,484,000
Sales Commissions, Amortization Term (Year)			3 years

Note 2 - Revenue Recognition _4

Note 2 - Revenue Recognition and Sales Commissions 2 (Details Textual)	Mar. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	12 months

Note 2 - Revenue Recognition _5

Note 2 - Revenue Recognition and Sales Commissions - Revenues Disaggregated By Revenue Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 68,946	$ 65,367
Subscription Services [Member]
Revenues	66,015	62,075
Professional Services [Member]
Revenues	$ 2,931	$ 3,292

Note 3 - Income Taxes (Details

Note 3 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Expense (Benefit)	$ 518,000	$ 866,000
Effective Income Tax Rate Reconciliation, Percent	16%	23%
Income Tax Expense (Benefit), Discrete Adjustments	$ (53,000)	$ 100,000
Effective Income Tax Rate Reconciliation, Change in Estimated Tax Credits, Amount	133,000
Effective Income Tax Rate Reconciliation, Uncertain Tax Positions, Amount	$ 80,000

Note 4 - Shareholders' Equity_2

Note 4 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		12 Months Ended
	Apr. 24, 2023	Feb. 20, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 14, 2023	Mar. 14, 2022
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.025	$ 0.025	$ 0
Dividends Payable, Date to be Paid		Apr. 28, 2023
Dividends Payable, Date of Record		Apr. 17, 2023
Stock Repurchased During Period, Value				$ 19,889
March 2022 Share Repurchase Program [Member]
Stock Repurchase Program, Authorized Amount						$ 10,000
Stock Repurchased During Period, Shares (in shares)			0		402,050
Stock Repurchased During Period, Value					$ 8,100
Stock Repurchased Average Price per Share (in dollars per share)					$ 20.19
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			45,907	135,352
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 26.25
Restricted Stock Units (RSUs) [Member] | Two Thousand Twenty Two Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				35,161
Restricted Stock Units (RSUs) [Member] | Not Conditioned on Shareholder Approval [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				100,191
Performance Based Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			138,000	91,042
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 20.32
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			5 years	5 years
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year One			15%	15%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Two			20%	20%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Three			20%	20%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Four			20%	20%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Five			25%	25%
Performance Based Restricted Stock Units (RSUs) [Member] | Performance 2023 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				18,210
Performance Based Restricted Stock Units (RSUs) [Member] | Two Thousand Twenty Three Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 26.25
Performance Based Restricted Stock Units (RSUs) [Member] | Not Based on 2023 Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				59,178
Performance Based Restricted Stock Units (RSUs) [Member] | Two Thousand Twenty Three Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			20,700
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 26.25
Performance Based Restricted Stock Units (RSUs) [Member] | Not Based on 2023 Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			117,300
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.025
Dividends Payable, Date to be Paid	Jun. 23, 2023
Dividends Payable, Date of Record	Jun. 12, 2023

Note 4 - Shareholders' Equity -

Note 4 - Shareholders' Equity - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock-based compensation expense	$ 945	$ 774
Cost of Sales [Member]
Stock-based compensation expense	48	38
Product Development [Member]
Stock-based compensation expense	167	125
Selling and Marketing Expense [Member]
Stock-based compensation expense	113	83
General and Administrative Expense [Member]
Stock-based compensation expense	$ 617	$ 528

Note 5 - Earnings Per Share (De

Note 5 - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	268,000	218,000

Note 5 - Earnings Per Share - C

Note 5 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 2,623	$ 2,893
Weighted-average shares outstanding (in shares)	30,591	30,955
Effect of dilutive shares (in shares)	68	21
Weighted-average diluted shares (in shares)	30,659	30,976
Net income per share:
Basic (in dollars per share)	$ 0.09	$ 0.09
Diluted (in dollars per share)	$ 0.09	$ 0.09

Note 6 - Marketable Securitie_2

Note 6 - Marketable Securities (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total	$ 0

Note 6 - Marketable Securitie_3

Note 6 - Marketable Securities - Fair Value of Available for Sale Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Adjusted Cost	$ 9,818	$ 7,882
Unrealized Gains	2	3
Unrealized Losses	(2)	0
Fair Value	9,818	7,885
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Adjusted Cost	9,818	7,882
Unrealized Gains	2	3
Unrealized Losses	(2)	0
Fair Value	$ 9,818	$ 7,885

Note 7 - Business Combination (

Note 7 - Business Combination (Details Textual) - Electronic Education Documentation System, LLC [Member] - USD ($)		3 Months Ended
	Dec. 31, 2022	Mar. 31, 2023
Payments to Acquire Businesses, Gross	$ 6,600,000
Business Combination, Consideration Transferred	7,000,000
Goodwill, Purchase Accounting Adjustments		$ (1,300,000)
Customer Relationships [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	2,600,000
Finite-Lived Intangible Assets, Purchase Accounting Adjustments		2,000,000
Developed Technology Rights [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	1,900,000
Finite-Lived Intangible Assets, Purchase Accounting Adjustments		(800,000)
Noncompete Agreements [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	200,000
Finite-Lived Intangible Assets, Purchase Accounting Adjustments		100,000
Trade Names [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 100,000
Finite-Lived Intangible Assets, Purchase Accounting Adjustments		$ (20,000)

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) - Revolving Credit Facility [Member] - Truist Bank [Member] - USD ($) $ in Thousands	Oct. 28, 2020	Mar. 31, 2023
Debt Instrument, Covenant, Maximum Funded Debt Leverage Ratio	3
Debt Instrument, Covenant, Interest Coverage Ratio	3
Long-Term Line of Credit, Total		$ 0
Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.20%
Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.30%
Third Amendment [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 65,000
Line of Credit Facility, Increased Facility Size Due to Accordion Feature	$ 25,000
Third Amendment [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Third Amendment [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1%
Third Amendment [Member] | Base Rate [Member] | Minimum [Member]
Line of Credit Facility, Percentage of Applicable Margin for Borrowings	0.50%
Third Amendment [Member] | Base Rate [Member] | Maximum [Member]
Line of Credit Facility, Percentage of Applicable Margin for Borrowings	0.75%
Third Amendment [Member] | Eurodollar [Member] | Minimum [Member]
Line of Credit Facility, Percentage of Applicable Margin for Borrowings	1.50%
Third Amendment [Member] | Eurodollar [Member] | Maximum [Member]
Line of Credit Facility, Percentage of Applicable Margin for Borrowings	1.75%
Third Amendment [Member] | Swing Line Subfacility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000
Third Amendment [Member] | Letter of Credit Subfacility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000