HealthStream (HSTM) 10-Q 24 Oct 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 21, 2024
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	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		30,414,883

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 57,489	$ 40,333
Marketable securities	37,404	30,800
Accounts receivable, net of allowance for doubtful accounts of $949 and $781 at September 30, 2024 and December 31, 2023, respectively	26,326	34,346
Accounts receivable - unbilled	5,350	4,100
Prepaid royalties, net of amortization	9,239	10,202
Prepaid software maintenance and subscriptions	6,677	7,397
Other prepaid expenses and other current assets	3,163	3,032
Total current assets	145,648	130,210
Property and equipment, net of accumulated depreciation of $22,362 and $19,503 at September 30, 2024 and December 31, 2023, respectively	11,086	13,005
Capitalized software development, net of accumulated amortization of $144,894 and $127,009 at September 30, 2024 and December 31, 2023, respectively	42,472	40,643
Operating lease right of use assets, net	18,172	20,114
Goodwill	191,139	191,379
Deferred commissions	31,777	31,700
Non-marketable equity investments	3,984	4,134
Other assets	584	726
Total assets	502,831	499,942
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	4,444	7,465
Accrued expenses	17,367	22,717
Accrued royalties	5,822	4,556
Deferred revenue	82,939	83,623
Total current liabilities	110,572	118,361
Deferred tax liabilities	15,177	16,132
Deferred revenue, noncurrent	1,671	2,169
Operating lease liability, noncurrent	17,944	20,247
Other long-term liabilities	1,986	2,281
Shareholders’ equity:
Common stock, no par value, 75,000 shares authorized; 30,415 and 30,298 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	251,428	249,075
Retained earnings	104,937	92,368
Accumulated other comprehensive loss	(884)	(691)
Total shareholders’ equity	355,481	340,752
Total liabilities and shareholders’ equity	502,831	499,942
Customer-Related Intangible Assets [Member]
ASSETS
Intangible Assets, Net	48,700	54,742
Other Intangible Assets [Member]
ASSETS
Intangible Assets, Net	$ 9,269	$ 13,289

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for credit loss, current	$ 949	$ 781
Accumulated amortization on property and equipment	22,362	19,503
Accumulated amortization on capitalized software development	$ 144,894	$ 127,009
Common stock, shares authorized (in shares)	75,000	75,000
Common stock, shares issued (in shares)	30,415	30,298
Common stock, shares outstanding (in shares)	30,415	30,298
Common stock, par value (in dollars per share)	$ 0	$ 0
Customer-Related Intangible Assets [Member]
Accumulated amortization on intangible assets	$ 56,676	$ 57,095
Other Intangible Assets [Member]
Accumulated amortization on intangible assets	$ 18,420	$ 16,603

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues, net	$ 73,095	$ 70,339	$ 217,411	$ 208,482
Operating costs and expenses:
Cost of revenues (excluding depreciation and amortization)	24,470	23,587	72,825	71,010
Product development	12,100	10,901	36,208	33,610
Sales and marketing	11,497	11,290	34,676	34,324
Other general and administrative expenses	8,457	9,295	26,325	27,223
Depreciation and amortization	10,073	10,403	30,779	30,550
Total operating costs and expenses	66,597	65,476	200,813	196,717
Operating income	6,498	4,863	16,598	11,765
Other income, net	981	590	2,722	1,329
Income before income tax provision	7,479	5,453	19,320	13,094
Income tax provision	1,754	1,586	4,202	2,471
Net income	$ 5,725	$ 3,867	$ 15,118	$ 10,623
Net income per share:
Basic (in dollars per share)	$ 0.19	$ 0.13	$ 0.5	$ 0.35
Diluted (in dollars per share)	$ 0.19	$ 0.13	$ 0.5	$ 0.35
Weighted average shares of common stock outstanding:
Basic (in shares)	30,409	30,683	30,374	30,653
Diluted (in shares)	30,590	30,769	30,512	30,734
Dividends declared per share (in dollars per share)	$ 0.028	$ 0.025	$ 0.084	$ 0.075

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income	$ 5,725	$ 3,867	$ 15,118	$ 10,623
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	290	(371)	(229)	(227)
Unrealized gain (loss) on marketable securities	43	21	36	(31)
Total other comprehensive income (loss)	333	(350)	(193)	(258)
Comprehensive income	$ 6,058	$ 3,517	$ 14,925	$ 10,365

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, 2022	30,579
Balance at Dec. 31, 2022	$ 254,832	$ 80,213	$ (981)	$ 334,064
Net income	0	2,623	0	2,623
Comprehensive loss	0	0	(35)	(35)
Dividends declared on common stock	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	(791)
Balance (in shares) at Mar. 31, 2023	30,682
Balance at Mar. 31, 2023	$ 254,986	82,069	(1,016)	336,039
Balance (in shares) at Dec. 31, 2022	30,579
Balance at Dec. 31, 2022	$ 254,832	80,213	(981)	334,064
Net income				10,623
Comprehensive loss				(258)
Balance (in shares) at Sep. 30, 2023	30,590
Balance at Sep. 30, 2023	$ 254,950	88,535	(1,239)	342,246
Balance (in shares) at Mar. 31, 2023	30,682
Balance at Mar. 31, 2023	$ 254,986	82,069	(1,016)	336,039
Net income	0	4,133	0	4,133
Comprehensive loss	0	0	127	127
Dividends declared on common stock	0	(767)	0	(767)
Stock-based compensation	$ 1,093	0	0	1,093
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)	4
Common stock issued under stock plans, net of shares withheld for employee taxes	$ (6)		0	(6)
Balance (in shares) at Jun. 30, 2023	30,686
Balance at Jun. 30, 2023	$ 256,073	85,435	(889)	340,619
Net income	0	3,867	0	3,867
Comprehensive loss	0	0	(350)	(350)
Dividends declared on common stock	0	(767)	0	(767)
Stock-based compensation	$ 1,038	0	0	1,038
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)	3
Common stock issued under stock plans, net of shares withheld for employee taxes	$ (20)		0	(20)
Balance (in shares) at Sep. 30, 2023	30,590
Balance at Sep. 30, 2023	$ 254,950	88,535	(1,239)	342,246
Repurchase of common stock (in shares)	(99)
Repurchase of common stock	$ (2,141)	0	0	$ (2,141)
Balance (in shares) at Dec. 31, 2023	30,298			30,298
Balance at Dec. 31, 2023	$ 249,075	92,368	(691)	$ 340,752
Net income	0	5,227	0	5,227
Comprehensive loss	0	0	(481)	(481)
Dividends declared on common stock	0	(849)	0	(849)
Stock-based compensation	$ 1,060	0	0	1,060
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)	100
Common stock issued under stock plans, net of shares withheld for employee taxes	$ (855)		0	(855)
Balance (in shares) at Mar. 31, 2024	30,398
Balance at Mar. 31, 2024	$ 249,280	96,746	(1,172)	$ 344,854
Balance (in shares) at Dec. 31, 2023	30,298			30,298
Balance at Dec. 31, 2023	$ 249,075	92,368	(691)	$ 340,752
Net income				15,118
Comprehensive loss				$ (193)
Balance (in shares) at Sep. 30, 2024	30,415			30,415
Balance at Sep. 30, 2024	$ 251,428	104,937	(884)	$ 355,481
Balance (in shares) at Mar. 31, 2024	30,398
Balance at Mar. 31, 2024	$ 249,280	96,746	(1,172)	344,854
Net income	0	4,168	0	4,168
Comprehensive loss	0	0	(45)	(45)
Dividends declared on common stock	0	(851)	0	(851)
Stock-based compensation	$ 1,094	0	0	1,094
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)	10
Common stock issued under stock plans, net of shares withheld for employee taxes	$ (6)		0	(6)
Balance (in shares) at Jun. 30, 2024	30,408
Balance at Jun. 30, 2024	$ 250,368	100,063	(1,217)	349,214
Net income	0	5,725	0	5,725
Comprehensive loss	0	0	333	333
Dividends declared on common stock	0	(851)	0	(851)
Stock-based compensation	$ 1,131	0	0	1,131
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)	7
Common stock issued under stock plans, net of shares withheld for employee taxes	$ (71)		0	$ (71)
Balance (in shares) at Sep. 30, 2024	30,415			30,415
Balance at Sep. 30, 2024	$ 251,428	$ 104,937	$ (884)	$ 355,481

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Dividends declared per share (in dollars per share)	$ 0.028	$ 0.028	$ 0.028	$ 0.025	$ 0.025	$ 0.025	$ 0.084	$ 0.075

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES:
Net income	$ 15,118	$ 10,623
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	30,779	30,550
Stock-based compensation	3,285	3,076
Amortization of deferred commissions	9,060	8,467
Provision for credit losses	2,027	675
Deferred income taxes	(960)	(2,634)
Loss on equity method investments	150	330
Change in fair value of non-marketable equity investments	0	(45)
Other	(1,205)	(603)
Changes in operating assets and liabilities:
Accounts and unbilled receivables	(4,744)	(7,230)
Prepaid royalties	962	(1,684)
Other prepaid expenses and other current assets	(177)	(817)
Deferred commissions	(9,138)	(9,583)
Other assets	143	336
Accounts payable and accrued expenses	(8,371)	(736)
Accrued royalties	1,266	1,419
Deferred revenue	(1,183)	3,554
Net cash provided by operating activities	46,500	50,158
INVESTING ACTIVITIES:
Business combinations, net of cash acquired	0	(6,621)
Proceeds from maturities of marketable securities	46,170	19,000
Purchases of marketable securities	(51,531)	(38,235)
Proceeds from sale of non-marketable equity investments	765	45
Payments associated with capitalized software development	(20,107)	(19,552)
Purchases of property and equipment	(1,198)	(1,854)
Net cash used in investing activities	(25,901)	(47,217)
FINANCING ACTIVITIES:
Taxes paid related to net settlement of equity awards	(932)	(817)
Repurchases of common stock	0	(1,648)
Payment of cash dividends	(2,551)	(2,301)
Net cash used in financing activities	(3,483)	(4,766)
Effect of exchange rate changes on cash and cash equivalents	40	(75)
Net increase (decrease) in cash and cash equivalents	17,156	(1,900)
Cash and cash equivalents at beginning of period	40,333	46,023
Cash and cash equivalents at end of period	$ 57,489	$ 44,123

Note 1 - Overview and Basis of

Note 1 - Overview and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
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. The Company is focused on helping individuals and organizations in healthcare meet their ongoing learning, clinical development, credentialing, and scheduling needs. The Company also provides its solutions to nursing schools and nursing students. The Company is organized and operated according to its One HealthStream approach, with its hStream technology platform at the center of that approach. Increasingly, SaaS-based applications in the Company's diverse ecosystem of solutions utilize the Company's proprietary hStream technology platform to enhance the value proposition for customers by creating interoperability with and among other applications. As used in this Quarterly Report on Form 10 10 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 nine September 30, 2024 not may December 31, 2024. The Condensed Consolidated Balance Sheet at December 31, 2023 not December 31, 2023 10 February 26, 2024).

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	2. RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, 2023 07, Segment Reporting (Topic 280 2023 07 2023 07 December 15, 2023 December 15, 2024. not In December 2023, 2023 09, Income Taxes (Topic 740 2023 09 December 15, 2024. not

Note 3 - Revenue Recognition an

Note 3 - Revenue Recognition and Sales Commissions	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Subscription services $ 69,918 $ 67,473 $ 209,136 $ 199,993 Professional services 3,177 2,866 8,275 8,489 Total revenues, net $ 73,095 $ 70,339 $ 217,411 $ 208,482 For the three September 30, 2024 2023 nine September 30, 2024 2023, During the three September 30, 2024 2023 nine September 30, 2024 2023, September 30, 2024 Sales Commissions Sales commissions earned by the Company's sales employees are considered incremental and recoverable costs of obtaining a contract with a customer. The Company recorded amortization of deferred commissions of $3.1 million and $3.0 million for the three September 30, 2024 2023 nine September 30, 2024 2023,

Note 4 - Income Taxes

Note 4 - Income Taxes	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	4. 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 September 30, 2024 2023 nine September 30, 2024 2023, The Company’s effective tax rate was 22% and 19% for the nine September 30, 2024 2023 nine September 30, 2024 nine September 30, 2023 nine September 30, 2023

Note 5 - Shareholders' Equity

Note 5 - Shareholders' Equity	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Equity [Text Block]	5. SHAREHOLDERS EQUITY Dividends on Common Stock During the nine September 30, 2024, Dividend Payment Date Dividend Declaration Date Dividend Per Share Record Date Cash Outlay March 22, 2024 February 19, 2024 $ 0.028 March 11, 2024 $ 849,000 May 17, 2024 April 22, 2024 0.028 May 6, 2024 851,000 August 16, 2024 July 22, 2024 0.028 August 5, 2024 851,000 Total dividends $ 0.084 $ 2,551,000 Additionally, o n October 21, 2024, November 15, 2024 November 4, 2024 Stock-Based Compensation The Company has stock awards outstanding under its 2016 2022 nine September 30, 2024 nine September 30, 2023 During the nine September 30, 2024, five 2024, 2025, 2026, 2027, 2028, first 2024 610 nine September 30, 2024 not 2025, 2026, 2027, 2028, 5,490 During the nine September 30, 2023, five 2023, 2024, 2025, 2026, 2027, second 2024 nine September 30, 2024 not 2025, 2026, 2027, During the nine September 30, 2022, five 2022, 2023, 2024, 2025, 2026, third 2024 nine September 30, 2024 not 2025 2026, Total stock-based compensation expense recognized in the Condensed Consolidated Statements of Income is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenues (excluding depreciation and amortization) $ 49 $ 50 $ 152 $ 149 Product development 200 188 599 542 Sales and marketing 139 131 415 374 Other general and administrative 743 669 2,119 2,011 Total stock-based compensation expense $ 1,131 $ 1,038 $ 3,285 $ 3,076

Note 6 - Earnings Per Share

Note 6 - Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	6. 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 177,000 and 340,000 for the three September 30, 2024 2023 nine September 30, 2024 2023, The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income $ 5,725 $ 3,867 $ 15,118 $ 10,623 Denominator: Weighted-average shares outstanding 30,409 30,683 30,374 30,653 Effect of dilutive shares 181 86 138 81 Weighted-average diluted shares 30,590 30,769 30,512 30,734 Net income per share: Basic $ 0.19 $ 0.13 $ 0.50 $ 0.35 Diluted $ 0.19 $ 0.13 $ 0.50 $ 0.35

Note 7 - Marketable Securities

Note 7 - Marketable Securities	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	7. The fair value of marketable securities, which were all classified as available for sale and which the Company does not September 30, 2024 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 37,357 $ 48 $ (1 ) $ 37,404 Total $ 37,357 $ 48 $ (1 ) $ 37,404 December 31, 2023 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 30,791 $ 10 $ (1 ) $ 30,800 Total $ 30,791 $ 10 $ (1 ) $ 30,800 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 September 30, 2024 not one

Note 8 - Debt

Note 8 - Debt	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	8. Revolving Credit Facility On October 6, 2023, November 24, 2014, may October 6, 2026. The Company's obligations under the Revolving Credit Facility are unsecured. In addition, if the Company forms or acquires any domestic subsidiaries, the loans and other obligations under the Revolving Credit Facility will be guaranteed by such domestic subsidiaries. At the Company’s election, the borrowings under the Revolving Credit Facility, other than the swingline loans, bear interest at either ( 1 one one 2 two 2 Principal is payable in full at maturity on October 6, 2026, no three three The purpose of the Revolving Credit Facility is for general working capital needs, permitted acquisitions (as defined in the Amended and Restated Revolving Credit Agreement), and for stock repurchase and/or redemption transactions that the Company may In addition, the Revolving Credit Facility required 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. In addition, the Revolving Credit Facility contains certain customary affirmative and negative 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. As of September 30, 2024 three nine September 30, 2024

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Insider Trading Arr Line Items
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition and Sales Commissions (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Subscription services $ 69,918 $ 67,473 $ 209,136 $ 199,993 Professional services 3,177 2,866 8,275 8,489 Total revenues, net $ 73,095 $ 70,339 $ 217,411 $ 208,482

Note 5 - Shareholders' Equity (

Note 5 - Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Dividends Declared [Table Text Block]	Dividend Payment Date Dividend Declaration Date Dividend Per Share Record Date Cash Outlay March 22, 2024 February 19, 2024 $ 0.028 March 11, 2024 $ 849,000 May 17, 2024 April 22, 2024 0.028 May 6, 2024 851,000 August 16, 2024 July 22, 2024 0.028 August 5, 2024 851,000 Total dividends $ 0.084 $ 2,551,000
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenues (excluding depreciation and amortization) $ 49 $ 50 $ 152 $ 149 Product development 200 188 599 542 Sales and marketing 139 131 415 374 Other general and administrative 743 669 2,119 2,011 Total stock-based compensation expense $ 1,131 $ 1,038 $ 3,285 $ 3,076

Note 6 - Earnings Per Share (Ta

Note 6 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income $ 5,725 $ 3,867 $ 15,118 $ 10,623 Denominator: Weighted-average shares outstanding 30,409 30,683 30,374 30,653 Effect of dilutive shares 181 86 138 81 Weighted-average diluted shares 30,590 30,769 30,512 30,734 Net income per share: Basic $ 0.19 $ 0.13 $ 0.50 $ 0.35 Diluted $ 0.19 $ 0.13 $ 0.50 $ 0.35

Note 7 - Marketable Securities

Note 7 - Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Debt Securities, Available-for-Sale [Table Text Block]	September 30, 2024 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 37,357 $ 48 $ (1 ) $ 37,404 Total $ 37,357 $ 48 $ (1 ) $ 37,404 December 31, 2023 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Level 2: U.S. treasury securities $ 30,791 $ 10 $ (1 ) $ 30,800 Total $ 30,791 $ 10 $ (1 ) $ 30,800

Note 3 - Revenue Recognition _3

Note 3 - Revenue Recognition and Sales Commissions 1 (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts Receivable, Credit Loss Expense (Reversal)	$ 200	$ 300	$ 2,027	$ 675
Contract with Customer, Liability, Revenue Recognized	45,000	42,200	79,400	76,000
Revenue, Remaining Performance Obligation, Amount	$ 549,000		$ 549,000
Revenue, Remaining Performance Obligation, Percentage	43%		43%
Amortization of Deferred Sales Commissions	$ 3,100	$ 3,000	$ 9,060	$ 8,467

Note 3 - Revenue Recognition _4

Note 3 - Revenue Recognition and Sales Commissions 2 (Details Textual)	Sep. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	12 months

Note 3 - Revenue Recognition _5

Note 3 - Revenue Recognition and Sales Commissions - Revenues Disaggregated By Revenue Source (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues	$ 73,095	$ 70,339	$ 217,411	$ 208,482
Subscription Services [Member]
Revenues	69,918	67,473	209,136	199,993
Professional Services [Member]
Revenues	$ 3,177	$ 2,866	$ 8,275	$ 8,489

Note 4 - Income Taxes (Details

Note 4 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Expense (Benefit)	$ 1,754	$ 1,586	$ 4,202	$ 2,471
Effective Income Tax Rate Reconciliation, Percent			22%	19%
Income Tax Expense (Benefit), Discrete Adjustments			$ 100	$ (100)
Reserve for Uncertain Tax Position			200	300
Income Tax Expense (Benefit), Stock-based Awards			$ (100)	(100)
Income Tax Expense (Benefit), State Appointment Change				(600)
Income Tax Expense (Benefit), Merger				$ 300

Note 5 - Shareholders' Equity_2

Note 5 - Shareholders' Equity (Details Textual) - $ / shares		3 Months Ended						9 Months Ended
	Oct. 21, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.028	$ 0.028	$ 0.028	$ 0.025	$ 0.025	$ 0.025	$ 0.084	$ 0.075
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)								110,573	128,942
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)								$ 27.8	$ 23.61
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)								6,100	138,000	91,042
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)								5 years	5 years	5 years
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year One								10%	15%	15%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Two								15%	20%	20%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Three								20%	20%	20%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Four								25%	20%	20%
Share Based Compensation Arrangement By Share Based Payment Award Incremental Performance Percentage Year Five								30%	25%	25%
Performance Based Restricted Stock Units (RSUs) [Member] | Two Thousand Twenty Four Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)								610	27,600	18,211
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)								$ 28.79	$ 26.79	$ 26.79
Performance Based Restricted Stock Units (RSUs) [Member] | Not Based on 2023 or 2024 Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)								5,490	89,700
Performance Based Restricted Stock Units (RSUs) [Member] | Not Based on 2022, 2023, or 2024 Performance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)										40,967
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.028
Subsequent Event [Member] | O 2024 Q4 Dividends [Member]
Dividends Payable, Date to be Paid	Nov. 15, 2024
Dividends Payable, Date of Record	Nov. 04, 2024

Note 5 - Shareholders' Equity -

Note 5 - Shareholders' Equity - Dividend Policy (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares
Dividends, amount per share (in dollars per share) | $ / shares	$ 0.084
Dividends, cash outlay | $	$ 2,551,000
O 2024 Q1 Dividends [Member]
Dividends, declaration date	Feb. 19, 2024
Dividends, amount per share (in dollars per share) | $ / shares	$ 0.028
Dividends Payable, Date of Record	Mar. 11, 2024
Dividends, cash outlay | $	$ 849,000
O 2024 Q2 Dividends [Member]
Dividends, declaration date	Apr. 22, 2024
Dividends, amount per share (in dollars per share) | $ / shares	$ 0.028
Dividends Payable, Date of Record	May 06, 2024
Dividends, cash outlay | $	$ 851,000
O 2024 Q3 Dividends [Member]
Dividends, declaration date	Jul. 22, 2024
Dividends, amount per share (in dollars per share) | $ / shares	$ 0.028
Dividends Payable, Date of Record	Aug. 05, 2024
Dividends, cash outlay | $	$ 851,000

Note 5 - Shareholders' Equity_3

Note 5 - Shareholders' Equity - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock-based compensation expense	$ 1,131	$ 1,038	$ 3,285	$ 3,076
Cost of Sales [Member]
Stock-based compensation expense	49	50	152	149
Product Development [Member]
Stock-based compensation expense	200	188	599	542
Selling and Marketing Expense [Member]
Stock-based compensation expense	139	131	415	374
General and Administrative Expense [Member]
Stock-based compensation expense	$ 743	$ 669	$ 2,119	$ 2,011

Note 6 - Earnings Per Share (De

Note 6 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	177,000	340,000	169,000	278,000

Note 6 - Earnings Per Share - C

Note 6 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income	$ 5,725	$ 4,168	$ 5,227	$ 3,867	$ 4,133	$ 2,623	$ 15,118	$ 10,623
Weighted-average shares outstanding (in shares)	30,409			30,683			30,374	30,653
Effect of dilutive shares (in shares)	181			86			138	81
Weighted-average diluted shares (in shares)	30,590			30,769			30,512	30,734
Net income per share:
Basic (in dollars per share)	$ 0.19			$ 0.13			$ 0.5	$ 0.35
Diluted (in dollars per share)	$ 0.19			$ 0.13			$ 0.5	$ 0.35

Note 7 - Marketable Securitie_2

Note 7 - Marketable Securities (Details Textual) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Securities, Available-for-Sale, Allowance for Credit Loss	$ 0

Note 7 - Marketable Securitie_3

Note 7 - Marketable Securities - Fair Value of Available for Sale Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Adjusted Cost	$ 37,357	$ 30,791
Unrealized Gains	48	10
Unrealized Losses	(1)	(1)
Fair Value	37,404	30,800
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Adjusted Cost	37,357	30,791
Unrealized Gains	48	10
Unrealized Losses	(1)	(1)
Fair Value	$ 37,404	$ 30,800

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) - Revolving Credit Facility [Member] - Truist Bank [Member] - USD ($) $ in Thousands	Oct. 06, 2023	Sep. 30, 2024
Debt Instrument, Covenant, Maximum Funded Debt Leverage Ratio	3
Debt Instrument, Covenant, Interest Coverage Ratio	3
Long-Term Line of Credit		$ 0
Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.20%
Third Amendment [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000
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] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%
Third Amendment [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Maximum [Member]
Line of Credit Facility, Percentage of Applicable Margin for Borrowings	1.50%
Third Amendment [Member] | Base Rate [Member] | Minimum [Member]
Line of Credit Facility, Percentage of Applicable Margin for Borrowings	0.50%
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