Information Services (III) 10-Q 9 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 31, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-33287
Entity Registrant Name	Information Services Group Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5261587
Entity Address, Address Line One	2187 Atlantic Street
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06902
City Area Code	203
Local Phone Number	517-3100
Title of 12(b) Security	Shares of Common Stock, $0.001 par value
Trading Symbol	III
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,463,254
Entity Central Index Key	0001371489
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 43,795	$ 43,730
Accounts receivable and contract assets, net of allowance of $137 and $368, respectively	69,944	67,473
Prepaid expenses and other current assets	4,210	3,412
Total current assets	117,949	114,615
Restricted cash	92	95
Furniture, fixtures and equipment, net	4,907	5,001
Right-of-use lease assets	5,074	5,909
Goodwill	90,914	91,008
Intangible assets, net	13,701	15,064
Deferred tax assets	2,506	2,255
Other assets	3,553	5,573
Total assets	238,696	239,520
Current liabilities
Accounts payable	16,259	11,176
Current maturities of long-term debt	4,300	4,300
Contract liabilities	7,486	5,121
Accrued expenses and other current liabilities	29,689	30,064
Total current liabilities	57,734	50,661
Long-term debt, net of current maturities	71,522	73,551
Deferred tax liabilities	3,779	3,811
Operating lease liabilities	3,560	4,332
Other liabilities	5,220	8,028
Total liabilities	141,815	140,383
Commitments and contingencies (Note 8)
Stockholders' equity
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued
Common stock, $0.001 par value, 100,000 shares authorized; 49,362 shares issued and 48,377 outstanding at June 30, 2021 and 48,297 shares issued and 48,189 outstanding at December 31, 2020	49	48
Additional paid-in capital	243,710	248,018
Treasury stock (985 and 108 common shares, respectively, at cost)	(4,883)	(256)
Accumulated other comprehensive loss	(5,523)	(4,671)
Accumulated deficit	(136,472)	(144,002)
Total stockholders' equity	96,881	99,137
Total liabilities and stockholders' equity	$ 238,696	$ 239,520

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivables and contract assets, allowances	$ 137	$ 368
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	49,362	48,297
Common stock, shares outstanding	48,377	48,189
Treasury stock, shares	985	108

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
Revenues	$ 70,597	$ 57,394	$ 137,168	$ 121,104
Operating expenses
Direct costs and expenses for advisors	43,007	33,759	84,163	74,776
Selling, general and administrative	20,492	18,593	39,532	40,474
Depreciation and amortization	1,255	1,529	2,615	3,060
Operating income	5,843	3,513	10,858	2,794
Interest income	60	54	131	127
Interest expense	(613)	(819)	(1,256)	(2,203)
Foreign currency transaction gain (loss)	8	(82)	(3)	80
Income before taxes	5,298	2,666	9,730	798
Income tax provision	1,192	2,054	2,200	1,545
Net income (loss)	$ 4,106	$ 612	$ 7,530	$ (747)
Weighted average shares outstanding:
Basic	48,307	47,601	48,406	47,458
Diluted	51,315	48,962	51,814	47,458
Earning (loss) per share:
Basic	$ 0.08	$ 0.01	$ 0.16	$ (0.02)
Diluted	$ 0.08	$ 0.01	$ 0.15	$ (0.02)
Comprehensive income:
Net income (loss)	$ 4,106	$ 612	$ 7,530	$ (747)
Foreign currency translation, net of tax (expense) benefit of $(66), $(287), $277, and $192 respectively	209	929	(852)	(521)
Comprehensive income (loss)	$ 4,315	$ 1,541	$ 6,678	$ (1,268)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
Foreign currency translation, tax (expense) benefit	$ (66)	$ (287)	$ 277	$ 192

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In-Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total
Balance at Dec. 31, 2019	$ 48	$ 245,572	$ (2,051)	$ (7,138)	$ (146,757)	$ 89,674
Balance (in shares) at Dec. 31, 2019	48,112
Increase (Decrease) in Stockholders' Equity
Net income (loss)					(747)	(747)
Other comprehensive loss				(521)		(521)
Treasury shares repurchased			(4,775)			(4,775)
Proceeds from issuance of ESPP shares		(59)	338			279
Issuance of treasury shares		(5,641)	5,641
Stock based compensation		4,385				4,385
Balance at Jun. 30, 2020	$ 48	244,257	(847)	(7,659)	(147,504)	88,295
Balance (in shares) at Jun. 30, 2020	48,112
Balance at Dec. 31, 2020	$ 48	248,018	(256)	(4,671)	(144,002)	$ 99,137
Balance (in shares) at Dec. 31, 2020	48,297					48,297
Increase (Decrease) in Stockholders' Equity
Net income (loss)					7,530	$ 7,530
Other comprehensive loss				(852)		(852)
Treasury shares repurchased			(11,216)			(11,216)
Proceeds from issuance of ESPP shares		21	266			287
Issuance of treasury shares		(6,323)	6,323
Issuance of common stock for RSUs vested	$ 1	(1)
Issuance of common stock for RSUs vested (in shares)	1,065
Accrued dividends on unvested shares		(130)				(130)
Cash dividends paid to shareholders		(1,451)				(1,451)
Stock based compensation		3,576				3,576
Balance at Jun. 30, 2021	$ 49	$ 243,710	$ (4,883)	$ (5,523)	$ (136,472)	$ 96,881
Balance (in shares) at Jun. 30, 2021	49,362					49,362

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income (loss)	$ 7,530	$ (747)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation expense	1,257	1,355
Amortization of intangible assets	1,358	1,705
Deferred tax (benefit) expense from stock issuances	(1,358)	884
Write-off of deferred financing costs		167
Amortization of deferred financing costs	179	218
Stock-based compensation	3,576	4,385
Change in fair value of contingent consideration	66
(Benefits) provisions for accounts receivable	(149)	676
Deferred tax provision	1,785	315
Changes in operating assets and liabilities:
Accounts receivable and contract assets	(2,300)	8,708
Prepaid expense and other assets	1,290	1,699
Accounts payable	4,849	1,433
Contract liabilities	2,365	(1,747)
Accrued expenses	482	7,920
Net cash provided by operating activities	20,930	26,971
Cash flows from investing activities
Purchase of furniture, fixtures and equipment	(965)	(427)
Net cash used in investing activities	(965)	(427)
Cash flows from financing activities
Principal payments on borrowings	(2,150)	(5,938)
Proceeds from issuance of employee stock purchase plan shares	287	279
Debt financing costs		(934)
Payments related to tax withholding for stock-based compensation	(4,595)	(1,631)
Cash dividends paid to shareholders	(1,451)
Treasury shares repurchased	(11,216)	(4,775)
Net cash used in financing activities	(19,125)	(12,999)
Effect of exchange rate changes on cash	(778)	(146)
Net increase in cash, cash equivalents, and restricted cash	62	13,399
Cash, cash equivalents, and restricted cash, beginning of period	43,825	18,241
Cash, cash equivalents, and restricted cash, end of period	43,887	31,640
Non-cash investing and financing activities:
Issuance of treasury stock for vested restricted stock awards	$ 6,323	$ 5,641

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	6 Months Ended
	Jun. 30, 2021
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1—DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS ​ Information Services Group, Inc. (the “Company”, or “ISG”) is a leading global technology research and advisory firm. A trusted business partner to over 700 clients, including more than 75 of the top 100 enterprises in our markets, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; technology strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs approximately 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2021
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 2—BASIS OF PRESENTATION ​ The accompanying unaudited condensed consolidated financial statements as of June 30, 2021 and for the three and six months ended June 30, 2021 and 2020, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and pursuant to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring accruals) have been made that are considered necessary for a fair statement of the financial position of the Company as of June 30, 2021 and the results of operations for the three and six months ended June 30, 2021 and 2020 and the cash flows for the six months ended June 30, 2021 and 2020. The condensed consolidated balance sheet as of December 31, 2020 has been derived from the Company’s audited consolidated financial statements. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. ​ Certain information and disclosures normally included in the notes to annual financial statements prepared in accordance with GAAP have been omitted from these interim financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the financial statements for the fiscal year ended December 31, 2020, which are included in the Company’s 2020 Annual Report on Form 10-K filed with the SEC. ​

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ​ Use of Estimates ​ ​ Restricted Cash ​ Restricted cash consists of cash and cash equivalents which the Company has committed for rent deposits and are not available for general corporate purposes. ​ Fair Value ​ The carrying value of the Company’s cash and cash equivalents, receivables, accounts payable, other current liabilities, and accrued interest approximated their fair values at June 30, 2021 and December 31, 2020 due to the short-term nature of these accounts. ​ Fair value measurements were applied with respect to our nonfinancial assets and liabilities measured on a nonrecurring basis, which would consist of measurements primarily to contingent consideration in a business combination. ​ Fair value is the price that would be received upon a sale of an asset or paid upon a transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). Market participants can use market data or assumptions in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market-corroborated, or generally unobservable. The use of unobservable inputs is intended to allow for fair value determinations in situations where there is little, if any, market activity for the asset or liability at the measurement date. Under the fair-value hierarchy: ​ ● Level 1 measurements include unadjusted quoted market prices for identical assets or liabilities in an active market; ​ ● Level 2 measurements include quoted market prices for identical assets or liabilities in an active market that have been adjusted for items such as effects of restrictions for transferability and those that are not quoted but are observable through corroboration with observable market data, including quoted market prices for similar assets; and ​ ● Level 3 measurements include those that are unobservable and of a highly subjective measure. ​ The following tables summarize the assets measured at fair value on a recurring basis at the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurements ​ ​ ​ June 30, 2021 ​ ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 5,017 $ — $ — $ 5,017 ​ Total $ 5,017 $ — $ — $ 5,017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (1) $ — $ — $ 5,385 $ 5,385 ​ Total $ — $ — $ 5,385 $ 5,385 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurements ​ ​ ​ December 31, 2020 ​ ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 17 $ — $ — $ 17 ​ Total $ 17 $ — $ — $ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (2) $ — $ — $ 5,319 $ 5,319 ​ Total $ — $ — $ 5,319 $ 5,319 ​ (1) (2) ​ The fair value measurement of the contingent consideration is classified within Level 3 of the fair value hierarchy and reflects the Company’s own assumptions in measuring fair values using the income approach discounted using a rate ​ The following table represents the change in the contingent consideration liability during the six months ended June 30, 2021: ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ 2021 Beginning Balance ​ $ 5,319 ​ Neuralify contingent consideration accrued ​ — ​ Payment of contingent consideration ​ — ​ Accretion of contingent consideration ​ 66 ​ Unrealized gain (loss) related to currency translation ​ — ​ Ending Balance ​ $ 5,385 ​ ​ The Company’s financial instruments include outstanding borrowings of $76.6 million at June 30, 2021 and $78.8 million at December 31, 2020, which are carried at amortized cost. The fair value of debt is classified within Level 3 of the fair value hierarchy. The fair value of the Company's outstanding borrowings is approximately $75.8 million and $77.7 million at June 30, 2021 and December 31, 2020, respectively. The fair values of debt have been estimated using a discounted cash flow discount ​ Recently Issued Accounting Pronouncements ​ In June 2016, the FASB issued new guidance on the measurement of credit losses for financial assets measured at amortized cost, which includes accounts receivable, and available-for-sale debt securities. The new guidance replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses and additional disclosures. As a smaller reporting company, this guidance is effective for fiscal years beginning after December 15, 2022. The Company is currently evaluating the potential impact of adopting this guidance on its financial statements.

ACQUISITION

ACQUISITION	6 Months Ended
	Jun. 30, 2021
ACQUISITION
ACQUISITION	NOTE 4 — ACQUISITION ​ Neuralify Acquisition ​ On July 8, 2020, a subsidiary of the Company executed an Asset Purchase Agreement with Neuralify, LLC (“the Agreement”), a firm focused on intelligent automation enablement solutions and services, and consummated the acquisition of substantially all of the assets and assumed certain liabilities of Neuralify, LLC. The primary reason for the acquisition was to expand the capabilities of ISG’s pure-play automation service line, ISG Automation. The purchase price was comprised of $2.3 million of cash consideration paid at closing and certain former employees of Neuralify, LLC will also have the right to receive additional consideration paid via earn-out payments during the next 18 months, if certain financial targets are met. At the Agreement date, the Company estimated such earn-out payments would be up to $4.9 million. ​ The following table summarizes the consideration transferred to acquire Neuralify, LLC and the amounts of identified assets acquired, and liabilities assumed as of the Agreement date: ​ ​ ​ ​ ​ Cash $ 2,282 Contingent consideration ​ 4,900 Total allocable purchase price ​ $ 7,182 ​ The primary factors that drove the goodwill recognized, the majority of which is deductible for tax purposes, are the inclusion of legacy Neuralify workforce and know-how which expands the Company’s pure-play automation service line, ISG Automation. ​ Costs associated with this acquisition are included in the selling, general and administrative expenses in the Consolidated Statement of Income and Comprehensive Income and totaled $0.1 million during the year ended December 31, 2020. This business combination was accounted for under the acquisition method of accounting, and as such, the aggregate purchase price was allocated on a preliminary basis to the assets acquired and liabilities assumed based on estimated fair values as of the closing date. Based on the valuation and other factors as described above, the purchase price assigned to intangible assets were as follows: ​ ​ ​ ​ ​ Accounts receivable ​ $ 226 Contract assets ​ 1 Intangible assets ​ 1,970 Accounts payable ​ (79) Contract liabilities ​ (280) Net assets acquired ​ $ 1,838 ​ ​ ​ ​ Goodwill ​ $ 5,344 ​ The Consolidated Statement of Income and Comprehensive Income includes the results of the Neuralify acquisition subsequent to the closing. Had the acquisition occurred as of January 1, 2020, the impact on the Company’s results of operations would not have been material.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2021
REVENUE
REVENUE	NOTE 5—REVENUE ​ The majority of our revenue is derived from contracts that can span from a few months to several years. We enter into contracts that can include various combinations of services, which, depending on contract type, are sometimes capable of being distinct. If services are determined to be distinct, they are accounted for as separate performance obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the client and is the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, including our managed service (GovernX) implementation, software and implementation, and research and subscription contracts, the Company allocates the transaction price to each performance obligation using our best estimate of the standalone selling price, or SSP, of each distinct good or service in the contract. Our contracts may include promises to transfer multiple services and products to a client. Determining whether services and products are considered distinct performance obligations that should be accounted for separately versus together may require judgment. Estimates were required to determine the SSP for each distinct performance obligation identified within our managed service (including GovernX) implementation contracts, software and implementation contracts, and research and subscription contracts. ​ Contract Balances ​ The timing of revenue recognition, billings, and cash collections results in billed accounts receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities). Our clients are billed based on the type of arrangement. A portion of our services is billed monthly based on hourly or daily rates. There are also client engagements in which we bill a fixed amount for our services. This may be one single amount covering the whole engagement or several amounts for various phases, functions, or milestones. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, we sometimes receive advances or deposits before revenue is recognized, resulting in contract liabilities. Contract assets and liabilities are generally reported in the current assets and current liabilities sections of the consolidated balance sheet, at the end of each reporting period, based on the timing of the satisfaction of the related performance obligation(s). For multi-year software sales with annual invoicing, we perform a significant financing component calculation and recognize the associated interest income throughout the duration of the financing period. In addition, we reclassify the resulting contract asset balances as current and noncurrent receivables as receipt of the consideration is conditional only on the passage of time and there are no performance risk factors present. See the table below for a breakdown of contract assets and contract liabilities. ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2021 2020 Contract assets ​ $ 27,145 ​ $ 21,825 Contract liabilities ​ $ 7,486 ​ $ 5,121 ​ Revenue recognized for the three and six months ended June 30, 2021 that was included in the contract liability balance at January 1, 2021 was $1.3 million and $3.2 million, respectively, and represented primarily revenue from our fixed fee and subscription contracts. Remaining Performance Obligations As of June 30, 2021, the Company had $113.8 million of remaining performance obligations, the majority of which are expected to be satisfied within the next year.

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE	6 Months Ended
	Jun. 30, 2021
NET INCOME PER COMMON SHARE
NET INCOME PER COMMON SHARE	NOTE 6—NET INCOME PER COMMON SHARE ​ Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would share in the net income of the Company. For the three and six months ended June 30, 2021, 0.2 million and 0.3 million restricted stock units, respectively, have not been considered in the diluted earnings per share calculation, as the effect would be anti-dilutive. ​ The following tables set forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2021 2020 ​ Basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ 4,106 ​ $ 612 ​ $ 7,530 ​ $ (747) ​ Weighted average common shares ​ 48,307 ​ 47,601 ​ 48,406 ​ 47,458 ​ Earnings (loss) per share ​ $ 0.08 ​ $ 0.01 ​ $ 0.16 ​ $ (0.02) ​ Diluted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ 4,106 ​ $ 612 ​ $ 7,530 ​ $ (747) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares ​ 48,307 ​ 47,601 ​ 48,406 ​ 47,458 ​ Potential common shares ​ 3,008 ​ 1,361 ​ 3,408 ​ — ​ Diluted weighted average common shares ​ 51,315 ​ 48,962 ​ 51,814 ​ 47,458 ​ Diluted earnings (loss) per share ​ $ 0.08 ​ $ 0.01 ​ $ 0.15 ​ $ (0.02) ​ ​

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
INCOME TAXES
INCOME TAXES	NOTE 7—INCOME TAXES ​ The Company’s effective tax rate for the three and six months ended June 30, 2021 was 22.5% and 22.6% based on pretax income of $5.3 million and $9.7 million, respectively. The Company’s effective tax rate for the quarter ended June 30, 2021 was impacted by the earnings and losses in certain foreign jurisdictions and the impact of vesting of restricted stock units. The Company’s effective tax rate for the three and six months ended June 30, 2020 was 77.0% and 193.6%. The difference was primarily due to the impact of earnings and losses in certain foreign jurisdictions and the impact of vesting of restricted stock units.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 8—COMMITMENTS AND CONTINGENCIES ​ The Company is subject to contingencies which arise through the ordinary course of business. All material liabilities of which management is aware are properly reflected in the financial statements at June 30, 2021 and December 31, 2020. ​ Neuralify Contingent Consideration ​ As of June 30, 2021, the Company has recorded a liability of $5.4 million representing the estimated fair value of contingent consideration related to the acquisition of Neuralify, all of which is classified as current and included in Other current liabilities on the consolidated balance sheet.

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION	6 Months Ended
	Jun. 30, 2021
SEGMENT AND GEOGRAPHICAL INFORMATION
SEGMENT AND GEOGRAPHICAL INFORMATION	NOTE 9—SEGMENT AND GEOGRAPHICAL INFORMATION ​ The Company operates as one reportable segment consisting primarily of fact-based sourcing advisory services. The Company operates principally in the Americas, Europe and Asia Pacific. ​ Geographical revenue information for the segment is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2021 2020 2021 2020 Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 40,339 ​ $ 31,620 ​ $ 78,429 ​ $ 68,453 Europe ​ 23,715 ​ 20,958 ​ 46,457 ​ 43,117 Asia Pacific ​ 6,543 ​ 4,816 ​ 12,282 ​ 9,534 ​ ​ $ 70,597 ​ $ 57,394 ​ $ 137,168 ​ $ 121,104 ​ The segregation of revenues by geographic region is based upon the location of the legal entity performing the services. The Company does not measure or monitor gross profit or operating income by geography or by service line for the purposes of making operating decisions or allocating resources.

FINANCING ARRANGEMENTS AND LONG

FINANCING ARRANGEMENTS AND LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2021
FINANCING ARRANGEMENTS AND LONG-TERM DEBT
FINANCING ARRANGEMENTS AND LONG-TERM DEBT	NOTE 10—FINANCING ARRANGEMENTS AND LONG-TERM DEBT ​ On March 10, 2020, the Company amended and restated its senior secured credit facility to include a $86.0 million term facility and to increase the revolving commitments per the revolving facility (the “2020 Credit Agreement”) from $30.0 million to $54.0 million. The material terms under the 2020 Credit Agreement are as follows: ● Each of the term loan facility and revolving credit facility has a maturity date of March 10, 2025 (the “Maturity Date”). ● The credit facility is secured by all of the equity interests owned by the Company, and its direct and indirect domestic subsidiaries and, subject to agreed exceptions, the Company’s direct and indirect “first-tier” foreign subsidiaries and a perfected first priority security interest in all of the Company’s and its direct and indirect domestic subsidiaries’ tangible and intangible assets. ● The Company’s direct and indirect existing and future wholly owned domestic subsidiaries serve as guarantors to the Company’s obligations under the senior secured facility. ● At the Company’s option, the credit facility bears interest at a rate per annum equal to either (i) the “Base Rate” (which is the highest of (a) the rate publicly announced from time to time by the administrative agent as its “prime rate”, (b) the Federal Funds Rate plus 0.5% per annum and (c) the Eurodollar Rate, plus 1.0%), plus the applicable margin (as defined below) or (ii) Eurodollar Rate (adjusted for maximum reserves) as determined by the Administrative Agent, plus the applicable margin. The applicable margin is adjusted quarterly based upon the Company’s quarterly leverage ratio. ● The term loan is repayable in nineteen consecutive quarterly installments of $1,075,000 each that commenced on June 30, 2020 and a final payment of the outstanding principal amount of the term loan on the Maturity Date. ● Mandatory repayments of term loans shall be required from (subject to agreed exceptions) (i) 100% of the proceeds from asset sales by the Company and its subsidiaries, (ii) 100% of the net proceeds from issuances of debt and equity by the Company and its subsidiaries and (iii) 100% of the net proceeds from insurance recovery and condemnation events of the Company and its subsidiaries. ● The senior secured credit facility contains a number of covenants that, among other things, place restrictions on matters customarily restricted in senior secured credit facilities, including restrictions on indebtedness (including guarantee obligations), liens, fundamental changes, sales or disposition of property or assets, investments (including loans, advances, guarantees and acquisitions), transactions with affiliates, dividends and other payments in respect of capital stock, optional payments and modifications of other material debt instruments, negative pledges and agreements restricting subsidiary distributions and changes in line of business. In addition, the Company is required to comply with a total leverage ratio and fixed charge coverage ratio. ● The senior secured credit facility contains customary events of default, including cross-default to other material agreements, judgment default and change of control. The Company’s financial statements include outstanding borrowings of $76.6 million and $78.8 million at June 30, 2021 and December 31, 2020, respectively, which are carried at amortized cost. The fair value of debt is classified within Level 3 of the fair value hierarchy. The fair value of the Company's outstanding borrowings is approximately $75.8 million and $77.7 million at June 30, 2021 and December 31, 2020, respectively. The fair values of debt have been estimated using a discounted cash flow rate used to discount ​

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	6 Months Ended
	Jun. 30, 2021
RISKS AND UNCERTAINTIES
RISKS AND UNCERTAINTIES	NOTE 11 - RISKS AND UNCERTAINTIES ​ On March 11, 2020, the World Health Organization declared the coronavirus (COVID-19) a pandemic, following the rapid spread of the disease from where it was first diagnosed, in China, to nations worldwide. The outbreak sparked responses across countries, states and cities worldwide to enforce various measures of social distancing and shelter-in-place orders and temporary closure of non-essential businesses to reduce further transmission of the virus. As a result of these measures, the US and global markets have seen significant disruption, the extent and duration of which remains highly uncertain. ​ The impact of COVID-19 pandemic continues to evolve and, therefore, the Company cannot predict with certainty the extent to which the pandemic will negatively impact our results of operations, cash flows and financial position, liquidity and ability to remain in compliance with our financial covenants. Given the uncertainty of the marketplace, during fiscal year 2020, the Company implemented business continuity plans to ensure that the Company is able to remain fully operational with a remote workforce, conducted financial modeling scenarios in order to ensure prudent cost containment, and has proactively implemented a series of cash conservation measures. These measures reduced personnel costs and other operating expenses, including reductions in staffing and contractor levels, vendor spending, travel, and other measures. ​ The Company has financial covenants underlying its debt which require a Debt to adjusted EBITDA ratio of 3.25 . In light of the pandemic, there is uncertainty regarding the marketplace demand for the Company’s services and thus the Company’s future revenue generation. Accordingly, in light of this uncertainty, the Company has developed plans to further reduce operating expenses to the extent more prolonged revenue shortfalls are experienced which would prevent the Company from complying with its financial covenants. The Company is currently in compliance with its financial covenants. ​ Management's plans would allow the Company to generate sufficient cash flows to reduce the Company's outstanding net debt and enable the Company to comply with the terms of its debt arrangements. Accordingly, the Company believes that based upon current facts and circumstances, its existing cash coupled with the cash flows generated from operations will be sufficient to meet its cash needs for 12 months from the date of issuance of these financial statements.

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	6 Months Ended
	Jun. 30, 2021
RESTRUCTURING CHARGES
RESTRUCTURING CHARGES	NOTE 12 — RESTRUCTURING CHARGES ​ 2020 Restructuring Plan ​ In the third and fourth quarters of 2020, the Company took restructuring actions to lower our operating expenses structurally and permanently relative to revenue and to accelerate the transformation of our business (the “Restructuring Plan”). Most of these actions are based on our recent experience and learning in the COVID-19 pandemic and a resulting review of our operations, which continues to address certain operating expenses such as occupancy expense and salaries and related expenses. ​ A summary of the activity affecting the Company's accrued contractual termination benefit liability for the period ended June 30, 2021 is as follows: ​ ​ ​ ​ ​ ​ Restructuring Plan Balance at January 1, 2020 $ — Amounts accrued ​ 2,349 Amounts paid/incurred ​ (2,029) Balance at June 30, 2021 $ 320 ​ The $2.3 million of net restructuring charges was primarily related to contractual termination benefits, and was recorded in selling, general and administrative expenses. We expect that the remaining actions of the Restructuring Plan will be completed over the next three months .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates	Use of Estimates ​
Restricted Cash	Restricted Cash ​ Restricted cash consists of cash and cash equivalents which the Company has committed for rent deposits and are not available for general corporate purposes.
Fair Value	Fair Value ​ The carrying value of the Company’s cash and cash equivalents, receivables, accounts payable, other current liabilities, and accrued interest approximated their fair values at June 30, 2021 and December 31, 2020 due to the short-term nature of these accounts. ​ Fair value measurements were applied with respect to our nonfinancial assets and liabilities measured on a nonrecurring basis, which would consist of measurements primarily to contingent consideration in a business combination. ​ Fair value is the price that would be received upon a sale of an asset or paid upon a transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). Market participants can use market data or assumptions in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market-corroborated, or generally unobservable. The use of unobservable inputs is intended to allow for fair value determinations in situations where there is little, if any, market activity for the asset or liability at the measurement date. Under the fair-value hierarchy: ​ ● Level 1 measurements include unadjusted quoted market prices for identical assets or liabilities in an active market; ​ ● Level 2 measurements include quoted market prices for identical assets or liabilities in an active market that have been adjusted for items such as effects of restrictions for transferability and those that are not quoted but are observable through corroboration with observable market data, including quoted market prices for similar assets; and ​ ● Level 3 measurements include those that are unobservable and of a highly subjective measure. ​ The following tables summarize the assets measured at fair value on a recurring basis at the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurements ​ ​ ​ June 30, 2021 ​ ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 5,017 $ — $ — $ 5,017 ​ Total $ 5,017 $ — $ — $ 5,017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (1) $ — $ — $ 5,385 $ 5,385 ​ Total $ — $ — $ 5,385 $ 5,385 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurements ​ ​ ​ December 31, 2020 ​ ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 17 $ — $ — $ 17 ​ Total $ 17 $ — $ — $ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (2) $ — $ — $ 5,319 $ 5,319 ​ Total $ — $ — $ 5,319 $ 5,319 ​ (1) (2) ​ The fair value measurement of the contingent consideration is classified within Level 3 of the fair value hierarchy and reflects the Company’s own assumptions in measuring fair values using the income approach discounted using a rate ​ The following table represents the change in the contingent consideration liability during the six months ended June 30, 2021: ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ 2021 Beginning Balance ​ $ 5,319 ​ Neuralify contingent consideration accrued ​ — ​ Payment of contingent consideration ​ — ​ Accretion of contingent consideration ​ 66 ​ Unrealized gain (loss) related to currency translation ​ — ​ Ending Balance ​ $ 5,385 ​ ​ The Company’s financial instruments include outstanding borrowings of $76.6 million at June 30, 2021 and $78.8 million at December 31, 2020, which are carried at amortized cost. The fair value of debt is classified within Level 3 of the fair value hierarchy. The fair value of the Company's outstanding borrowings is approximately $75.8 million and $77.7 million at June 30, 2021 and December 31, 2020, respectively. The fair values of debt have been estimated using a discounted cash flow discount
Recently Issued Accounting Pronouncements	​ Recently Issued Accounting Pronouncements ​ In June 2016, the FASB issued new guidance on the measurement of credit losses for financial assets measured at amortized cost, which includes accounts receivable, and available-for-sale debt securities. The new guidance replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses and additional disclosures. As a smaller reporting company, this guidance is effective for fiscal years beginning after December 15, 2022. The Company is currently evaluating the potential impact of adopting this guidance on its financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Summary of assets measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurements ​ ​ ​ June 30, 2021 ​ ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 5,017 $ — $ — $ 5,017 ​ Total $ 5,017 $ — $ — $ 5,017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (1) $ — $ — $ 5,385 $ 5,385 ​ Total $ — $ — $ 5,385 $ 5,385 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurements ​ ​ ​ December 31, 2020 ​ ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 17 $ — $ — $ 17 ​ Total $ 17 $ — $ — $ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (2) $ — $ — $ 5,319 $ 5,319 ​ Total $ — $ — $ 5,319 $ 5,319 ​ (1) (2)
Schedule of change in the contingent consideration liability	​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ 2021 Beginning Balance ​ $ 5,319 ​ Neuralify contingent consideration accrued ​ — ​ Payment of contingent consideration ​ — ​ Accretion of contingent consideration ​ 66 ​ Unrealized gain (loss) related to currency translation ​ — ​ Ending Balance ​ $ 5,385 ​

ACQUISITION (Tables)

ACQUISITION (Tables)	6 Months Ended
	Jun. 30, 2021
ACQUISITION
Schedule of consideration transferred and the amounts of identified assets acquired, and liabilities assumed as of the Agreement date	The following table summarizes the consideration transferred to acquire Neuralify, LLC and the amounts of identified assets acquired, and liabilities assumed as of the Agreement date: ​ ​ ​ ​ ​ Cash $ 2,282 Contingent consideration ​ 4,900 Total allocable purchase price ​ $ 7,182 ​ ​ ​ ​ ​ Accounts receivable ​ $ 226 Contract assets ​ 1 Intangible assets ​ 1,970 Accounts payable ​ (79) Contract liabilities ​ (280) Net assets acquired ​ $ 1,838 ​ ​ ​ ​ Goodwill ​ $ 5,344

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2021
REVENUE
Schedule of contract assets and contract liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2021 2020 Contract assets ​ $ 27,145 ​ $ 21,825 Contract liabilities ​ $ 7,486 ​ $ 5,121

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
NET INCOME PER COMMON SHARE
Schedule of computation of basic and diluted earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2021 2020 ​ Basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ 4,106 ​ $ 612 ​ $ 7,530 ​ $ (747) ​ Weighted average common shares ​ 48,307 ​ 47,601 ​ 48,406 ​ 47,458 ​ Earnings (loss) per share ​ $ 0.08 ​ $ 0.01 ​ $ 0.16 ​ $ (0.02) ​ Diluted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ 4,106 ​ $ 612 ​ $ 7,530 ​ $ (747) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares ​ 48,307 ​ 47,601 ​ 48,406 ​ 47,458 ​ Potential common shares ​ 3,008 ​ 1,361 ​ 3,408 ​ — ​ Diluted weighted average common shares ​ 51,315 ​ 48,962 ​ 51,814 ​ 47,458 ​ Diluted earnings (loss) per share ​ $ 0.08 ​ $ 0.01 ​ $ 0.15 ​ $ (0.02) ​

SEGMENT AND GEOGRAPHICAL INFO_2

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
SEGMENT AND GEOGRAPHICAL INFORMATION
Schedule of geographical revenue information for the segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2021 2020 2021 2020 Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 40,339 ​ $ 31,620 ​ $ 78,429 ​ $ 68,453 Europe ​ 23,715 ​ 20,958 ​ 46,457 ​ 43,117 Asia Pacific ​ 6,543 ​ 4,816 ​ 12,282 ​ 9,534 ​ ​ $ 70,597 ​ $ 57,394 ​ $ 137,168 ​ $ 121,104

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	6 Months Ended
	Jun. 30, 2021
RESTRUCTURING CHARGES
Summary of the activity affecting the Company's accrued contractual termination benefit liability	​ ​ ​ ​ ​ ​ Restructuring Plan Balance at January 1, 2020 $ — Amounts accrued ​ 2,349 Amounts paid/incurred ​ (2,029) Balance at June 30, 2021 $ 320

DESCRIPTION OF ORGANIZATION A_2

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details)	Jun. 30, 2021employeeclientcountry
Number of digital-ready professionals | employee	1,300
Minimum
Number of clients	700
Number of clients from top 100 enterprises in the markets	75
Number of countries | country	20

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Liabilities:
Contingent consideration	$ 5,385	$ 5,319
Contingent consideration, valuation technique extensible list	us-gaap:IncomeApproachValuationTechniqueMember
Contingent consideration, measurement input extensible list	us-gaap:MeasurementInputDiscountRateMember
Contingent consideration, measurement input	0.0250
Change in the contingent consideration liability
Beginning Balance	$ 5,319
Accretion of contingent consideration	66
Ending Balance	5,385
Outstanding borrowings	76,600	78,800
Fair value of outstanding borrowing	$ 75,800	$ 77,700
Debt instrument, valuation technique, extensible list	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Debt instrument, measurement input, extensible list	us-gaap:MeasurementInputDiscountRateMember
Debt instrument, measurement input	0.019	0.025
Recurring
Assets:
Cash equivalents	$ 5,017	$ 17
Total	5,017	17
Liabilities:
Contingent consideration	5,385	5,319
Total	5,385	5,319
Change in the contingent consideration liability
Beginning Balance	5,319
Ending Balance	5,385
Recurring | Level1
Assets:
Cash equivalents	5,017	17
Total	5,017	17
Recurring | Level3
Liabilities:
Contingent consideration	5,385	5,319
Total	5,385	$ 5,319
Change in the contingent consideration liability
Beginning Balance	5,319
Ending Balance	$ 5,385

ACQUISITION (Details)

ACQUISITION (Details) - Neuralify acquisition $ in Thousands	Jul. 08, 2020USD ($)
Business Acquisition [Line Items]
Cash	$ 2,282
Contingent consideration	4,900
Total allocable purchase price	$ 7,182
Term of contingent consideration (in months)	18 months

ACQUISITION - Acquisition costs

ACQUISITION - Acquisition costs and identified assets acquired, and liabilities assumed and (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2021	Jul. 08, 2020
Identified assets acquired, and liabilities assumed
Goodwill	$ 91,008	$ 90,914
Neuralify acquisition
Identified assets acquired, and liabilities assumed
Accounts receivable			$ 226
Contract assets			1
Intangible assets			1,970
Accounts payable			(79)
Contract liabilities			(280)
Net assets acquired			1,838
Goodwill			$ 5,344
Neuralify acquisition | Selling, general and administrative expenses
Identified assets acquired, and liabilities assumed
Acquisition related cost	$ 100

REVENUE - Contract Balances (De

REVENUE - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
REVENUE
Contract assets	$ 27,145	$ 21,825
Contract liabilities	$ 7,486	$ 5,121

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)
REVENUE
Revenue recognized, included in contract liability balance	$ 1.3	$ 3.2
Remaining performance obligations	$ 113.8	$ 113.8

NET INCOME PER COMMON SHARE - A

NET INCOME PER COMMON SHARE - Antidilutive Securities (Details) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Restricted stock units
Antidilutive securities
Securities considered antidilutive (in shares)	0.2	0.3

NET INCOME PER COMMON SHARE (De

NET INCOME PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic:
Net income (loss)	$ 4,106	$ 612	$ 7,530	$ (747)
Weighted average common shares (in shares)	48,307	47,601	48,406	47,458
Earnings (loss) per share (in dollars per share)	$ 0.08	$ 0.01	$ 0.16	$ (0.02)
Diluted:
Net income (loss)	$ 4,106	$ 612	$ 7,530	$ (747)
Basic weighted average common shares (in shares)	48,307	47,601	48,406	47,458
Potential common shares (in shares)	3,008	1,361	3,408
Diluted weighted average common shares (in shares)	51,315	48,962	51,814	47,458
Diluted earnings (loss) per share (in dollars per share)	$ 0.08	$ 0.01	$ 0.15	$ (0.02)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
INCOME TAXES
Effective income tax rates (as a percent)	22.50%	77.00%	22.60%	193.60%
Pretax income	$ 5,298	$ 2,666	$ 9,730	$ 798

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Jun. 30, 2021USD ($)
Neuralify acquisition | Other current liabilities
Contingent Consideration
Fair value of contingent	$ 5.4

SEGMENT AND GEOGRAPHICAL INFO_3

SEGMENT AND GEOGRAPHICAL INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)
Segment and geographical information
Number of segments | segment			1
Revenues	$ 70,597	$ 57,394	$ 137,168	$ 121,104
Americas
Segment and geographical information
Revenues	40,339	31,620	78,429	68,453
Europe
Segment and geographical information
Revenues	23,715	20,958	46,457	43,117
Asia Pacific
Segment and geographical information
Revenues	$ 6,543	$ 4,816	$ 12,282	$ 9,534

FINANCING ARRANGEMENTS AND LO_2

FINANCING ARRANGEMENTS AND LONG-TERM DEBT (Details)	Mar. 10, 2020USD ($)installment	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 09, 2020USD ($)
FINANCING ARRANGEMENTS AND LONG-TERM DEBT
Outstanding borrowings		$ 76,600,000	$ 78,800,000
Fair value of outstanding borrowing		$ 75,800,000	$ 77,700,000
Debt Instrument, Valuation Technique [Extensible List]		us-gaap:ValuationTechniqueDiscountedCashFlowMember
Debt Instrument, Measurement Input [Extensible List]		us-gaap:MeasurementInputDiscountRateMember
Debt instrument, measurement input		0.019	0.025
2020 Credit Agreement
FINANCING ARRANGEMENTS AND LONG-TERM DEBT
Percentage of proceeds from asset sales used for mandatory repayments of the debt	100.00%
Percentage of net proceeds from issuances of debt and equity used for mandatory repayments of the debt	100.00%
Percentage of net proceeds from insurance recovery and condemnation events used for mandatory repayments of the debt	100.00%
2020 Credit Agreement | Federal Funds Rate
FINANCING ARRANGEMENTS AND LONG-TERM DEBT
Applicable margin (as a percent)	0.50%
2020 Credit Agreement | Eurodollar Rate
FINANCING ARRANGEMENTS AND LONG-TERM DEBT
Applicable margin (as a percent)	1.00%
2020 Credit Agreement | Term loan facility
FINANCING ARRANGEMENTS AND LONG-TERM DEBT
Maximum borrowing capacity	$ 86,000,000
Number of quarterly installments | installment	19
Periodic repayment	$ 1,075,000
2020 Credit Agreement | Revolving facility
FINANCING ARRANGEMENTS AND LONG-TERM DEBT
Maximum borrowing capacity	$ 54,000,000			$ 30,000,000

RISKS AND UNCERTAINTIES (Detail

RISKS AND UNCERTAINTIES (Details)	6 Months Ended
	Jun. 30, 2021
RISKS AND UNCERTAINTIES
Debt to adjusted EBITDA ratio	3.25

RESTRUCTURING CHARGES (Details)

RESTRUCTURING CHARGES (Details) - Contractual termination benefit liability - 2020 Restructuring Plan $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
RESTRUCTURING CHARGES
Amounts accrued	$ 2,349
Amounts paid/incurred	(2,029)
Balance at June 30, 2021	$ 320
Term to complete the remaining restructuring actions (in months)	3 months
Selling, general and administrative expenses
RESTRUCTURING CHARGES
Amounts accrued	$ 2,300