Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 02, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001438231 | |
Entity Registrant Name | Digimarc CORP | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-34108 | |
Entity Incorporation, State or Country Code | OR | |
Entity Tax Identification Number | 26-2828185 | |
Entity Address, Address Line One | 8500 SW Creekside Place | |
Entity Address, City or Town | Beaverton | |
Entity Address, State or Province | OR | |
Entity Address, Postal Zip Code | 97008 | |
City Area Code | 503 | |
Local Phone Number | 469-4800 | |
Title of 12(b) Security | Common Stock, $0.001 Par Value Per Share | |
Trading Symbol | DMRC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 20,357,870 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 32,335 | $ 33,598 |
Marketable securities | 996 | 18,944 |
Trade accounts receivable, net | 7,042 | 5,427 |
Other current assets | 4,578 | 6,172 |
Total current assets | 44,951 | 64,141 |
Property and equipment, net | 1,656 | 2,390 |
Intangibles, net | 28,977 | 33,170 |
Goodwill | 8,323 | 8,229 |
Lease right of use assets | 4,108 | 4,720 |
Other assets | 827 | 1,127 |
Total assets | 88,842 | 113,777 |
Current liabilities: | ||
Accounts payable and other accrued liabilities | 6,207 | 5,989 |
Deferred revenue | 7,315 | 4,145 |
Total current liabilities | 13,522 | 10,134 |
Long-term lease liabilities | 6,170 | 5,977 |
Other long-term liabilities | 267 | 76 |
Total liabilities | 19,959 | 16,187 |
Commitments and contingencies (Note 16) | ||
Shareholders’ equity: | ||
Preferred stock (par value $0.001 per share, 2,500 authorized, 10 shares issued and outstanding at September 30, 2023 and December 31, 2022) | 50 | 50 |
Common stock (par value $0.001 per share, 50,000 authorized, 20,356 and 20,260 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively) | 20 | 20 |
Additional paid-in capital | 373,844 | 367,692 |
Accumulated deficit | (301,195) | (265,809) |
Accumulated other comprehensive loss | (3,836) | (4,363) |
Total shareholders’ equity | 68,883 | 97,590 |
Total liabilities and shareholders’ equity | $ 88,842 | $ 113,777 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 2,500 | 2,500 |
Preferred stock, shares issued (in shares) | 10 | 10 |
Preferred stock, shares outstanding (in shares) | 10 | 10 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000 | 50,000 |
Common stock, shares issued (in shares) | 20,356 | 20,260 |
Common stock, shares outstanding (in shares) | 20,356 | 20,260 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||
Revenue: | |||||
Revenue | $ 8,994 | $ 7,821 | $ 25,567 | $ 22,979 | |
Cost of revenue: | |||||
Cost of revenue | 3,771 | 3,656 | 11,231 | 11,473 | |
Gross profit | 5,223 | 4,165 | 14,336 | 11,506 | |
Operating expenses: | |||||
Sales and marketing | 5,366 | 7,684 | 16,770 | 23,702 | |
Research, development and engineering | 6,308 | 7,575 | 20,295 | 19,731 | |
General and administrative | 4,433 | 4,132 | 13,412 | 15,027 | |
Amortization expense on acquired intangible assets | 272 | 301 | 800 | 964 | |
Impairment of lease right of use assets and leasehold improvements | 0 | 0 | 250 | 574 | |
Total operating expenses | 16,379 | 19,692 | 51,527 | 59,998 | |
Operating loss | (11,156) | (15,527) | (37,191) | (48,492) | |
Other income, net | 478 | 623 | 1,870 | 1,214 | |
Loss before income taxes | (10,678) | (14,904) | (35,321) | (47,278) | |
Provision for income taxes | (45) | (26) | (65) | (72) | |
Net loss | $ (10,723) | $ (14,930) | $ (35,386) | $ (47,350) | |
Loss per share: | |||||
Loss per share — basic (in dollars per share) | $ (0.53) | $ (0.76) | $ (1.76) | $ (2.51) | |
Loss per share — diluted (in dollars per share) | $ (0.53) | $ (0.76) | $ (1.76) | $ (2.51) | |
Weighted average shares outstanding — basic (in shares) | 20,217 | 19,721 | 20,158 | 18,877 | |
Weighted average shares outstanding — diluted (in shares) | 20,217 | 19,721 | 20,158 | 18,877 | |
Comprehensive loss: | |||||
Unrealized gain (loss) on marketable securities, net of tax of $0 | $ 0 | $ 51 | $ 144 | $ (199) | |
Foreign currency translation adjustment, net of tax of $0 | (983) | (3,118) | 383 | (6,737) | |
Other comprehensive income (loss) | (983) | (3,067) | 527 | (6,936) | |
Net loss | (10,723) | (14,930) | (35,386) | (47,350) | |
Comprehensive loss | (11,706) | (17,997) | (34,859) | (54,286) | |
Subscription [Member] | |||||
Revenue: | |||||
Revenue | 4,811 | 4,086 | 13,374 | 11,121 | |
Cost of revenue: | |||||
Cost of revenue | [1] | 698 | 1,006 | 2,264 | 2,934 |
Service [Member] | |||||
Revenue: | |||||
Revenue | 4,183 | 3,735 | 12,193 | 11,858 | |
Cost of revenue: | |||||
Cost of revenue | [1] | 1,938 | 1,602 | 5,621 | 5,177 |
Amortization Expense On Acquired Intangible Assets [Member] | |||||
Cost of revenue: | |||||
Cost of revenue | $ 1,135 | $ 1,048 | $ 3,346 | $ 3,362 | |
[1]Cost of revenue for Subscription and Service excludes amortization expense on acquired intangible assets. |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 10 | 16,940 | ||||
Balance at Dec. 31, 2021 | $ 50 | $ 17 | $ 261,324 | $ (206,011) | $ 0 | $ 55,380 |
Issuance of restricted common stock (in shares) | 0 | 54 | ||||
Issuance of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Vesting of restricted stock units (in shares) | 0 | 119 | ||||
Vesting of restricted stock units | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Forfeiture of restricted common stock (in shares) | 0 | (26) | ||||
Forfeiture of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Purchase of common stock (in shares) | 0 | (94) | ||||
Purchase of common stock | $ 0 | $ 0 | (1,897) | 0 | 0 | (1,897) |
Stock-based compensation | 0 | 0 | 9,419 | 0 | 0 | 9,419 |
Unrealized gain (loss) on marketable securities, net of tax of $0 | 0 | 0 | 0 | 0 | (199) | (199) |
Foreign currency translation adjustment, net of tax of $0 | 0 | 0 | 0 | 0 | (6,737) | (6,737) |
Net loss | $ 0 | $ 0 | 0 | (47,350) | 0 | (47,350) |
Issuance of common stock (in shares) | 0 | 3,044 | ||||
Issuance of common stock | $ 0 | $ 3 | 90,608 | 0 | 0 | 90,611 |
Issuance of warrants for acquisition | $ 0 | $ 0 | 1,601 | 0 | 0 | 1,601 |
Balance (in shares) at Sep. 30, 2022 | 10 | 20,037 | ||||
Balance at Sep. 30, 2022 | $ 50 | $ 20 | 361,055 | (253,361) | (6,936) | 100,828 |
Balance (in shares) at Jun. 30, 2022 | 10 | 19,959 | ||||
Balance at Jun. 30, 2022 | $ 50 | $ 20 | 357,509 | (238,431) | (3,869) | 115,279 |
Issuance of restricted common stock (in shares) | 0 | 14 | ||||
Issuance of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Vesting of restricted stock units (in shares) | 0 | 102 | ||||
Vesting of restricted stock units | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Forfeiture of restricted common stock (in shares) | 0 | (5) | ||||
Forfeiture of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Purchase of common stock (in shares) | 0 | (55) | ||||
Purchase of common stock | $ 0 | $ 0 | (923) | 0 | 0 | (923) |
Stock-based compensation | 0 | 0 | 3,597 | 0 | 0 | 3,597 |
Unrealized gain (loss) on marketable securities, net of tax of $0 | 0 | 0 | 0 | 0 | 51 | 51 |
Foreign currency translation adjustment, net of tax of $0 | 0 | 0 | 0 | 0 | (3,118) | (3,118) |
Net loss | $ 0 | $ 0 | 0 | (14,930) | 0 | (14,930) |
Issuance of common stock (in shares) | 0 | 22 | ||||
Issuance of common stock | $ 0 | $ 0 | 872 | 0 | 0 | 872 |
Balance (in shares) at Sep. 30, 2022 | 10 | 20,037 | ||||
Balance at Sep. 30, 2022 | $ 50 | $ 20 | 361,055 | (253,361) | (6,936) | 100,828 |
Balance (in shares) at Dec. 31, 2022 | 10 | 20,260 | ||||
Balance at Dec. 31, 2022 | $ 50 | $ 20 | 367,692 | (265,809) | (4,363) | 97,590 |
Issuance of restricted common stock (in shares) | 0 | 45 | ||||
Issuance of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Vesting of restricted stock units (in shares) | 0 | 117 | ||||
Vesting of restricted stock units | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Forfeiture of restricted common stock (in shares) | 0 | (6) | ||||
Forfeiture of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Purchase of common stock (in shares) | 0 | (72) | ||||
Purchase of common stock | $ 0 | $ 0 | (2,036) | 0 | 0 | (2,036) |
Stock-based compensation | 0 | 0 | 8,188 | 0 | 0 | 8,188 |
Unrealized gain (loss) on marketable securities, net of tax of $0 | 0 | 0 | 0 | 0 | 144 | 144 |
Foreign currency translation adjustment, net of tax of $0 | 0 | 0 | 0 | 0 | 383 | 383 |
Net loss | $ 0 | $ 0 | 0 | (35,386) | 0 | (35,386) |
Issuance of common stock (in shares) | 0 | 10 | ||||
Issuance of common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Vesting of performance stock units (in shares) | 0 | 2 | ||||
Vesting of performance stock units | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Balance (in shares) at Sep. 30, 2023 | 10 | 20,356 | ||||
Balance at Sep. 30, 2023 | $ 50 | $ 20 | 373,844 | (301,195) | (3,836) | 68,883 |
Balance (in shares) at Jun. 30, 2023 | 10 | 20,334 | ||||
Balance at Jun. 30, 2023 | $ 50 | $ 20 | 371,893 | (290,472) | (2,853) | 78,638 |
Issuance of restricted common stock (in shares) | 0 | 0 | ||||
Issuance of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Vesting of restricted stock units (in shares) | 0 | 44 | ||||
Vesting of restricted stock units | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Forfeiture of restricted common stock (in shares) | 0 | (1) | ||||
Forfeiture of restricted common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Purchase of common stock (in shares) | 0 | (21) | ||||
Purchase of common stock | $ 0 | $ 0 | (756) | 0 | 0 | (756) |
Stock-based compensation | 0 | 0 | 2,707 | 0 | 0 | 2,707 |
Unrealized gain (loss) on marketable securities, net of tax of $0 | 0 | 0 | 0 | 0 | 0 | 0 |
Foreign currency translation adjustment, net of tax of $0 | 0 | 0 | 0 | 0 | (983) | (983) |
Net loss | $ 0 | $ 0 | 0 | (10,723) | 0 | (10,723) |
Balance (in shares) at Sep. 30, 2023 | 10 | 20,356 | ||||
Balance at Sep. 30, 2023 | $ 50 | $ 20 | $ 373,844 | $ (301,195) | $ (3,836) | $ 68,883 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (35,386) | $ (47,350) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and write-off of property and equipment | 911 | 1,036 |
Amortization of acquired intangible assets | 4,146 | 4,326 |
Amortization and write-off of other intangible assets | 709 | 493 |
Amortization of lease right of use assets under operating leases | 426 | 768 |
Stock-based compensation | 8,146 | 9,310 |
Impairment of lease right of use assets and leasehold improvements | 250 | 574 |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | (1,581) | (241) |
Other current assets | 1,688 | (2,233) |
Other assets | 279 | (611) |
Accounts payable and other accrued liabilities | 299 | (2,153) |
Deferred revenue | 3,298 | 233 |
Lease liability and other long-term liabilities | 136 | (1,040) |
Net cash used in operating activities | (16,679) | (36,888) |
Cash flows from investing activities: | ||
Net cash paid for acquisition | 0 | (3,512) |
Purchase of property and equipment | (208) | (783) |
Capitalized patent costs | (295) | (404) |
Proceeds from maturities of marketable securities | 26,696 | 17,498 |
Purchases of marketable securities | (8,664) | (5,873) |
Net cash provided by investing activities | 17,529 | 6,926 |
Cash flows from financing activities: | ||
Issuance of common stock, net of issuance costs | 0 | 58,220 |
Purchase of common stock | (2,036) | (1,560) |
Repayment of loans | (33) | (32) |
Net cash (used in) provided by financing activities | (2,069) | 56,628 |
Effect of exchange rate on cash | (44) | (100) |
Net (decrease) increase in cash and cash equivalents | (1,263) | 26,566 |
Cash and cash equivalents at beginning of period | 33,598 | 13,789 |
Cash and cash equivalents at end of period | 32,335 | 40,355 |
Supplemental disclosure of cash flow information: | ||
Cash paid for income taxes, net | 138 | 90 |
Supplemental schedule of non-cash activities: | ||
Property and equipment and patent costs in accounts payable | 14 | (21) |
Stock-based compensation capitalized to software and patent costs | 42 | 109 |
Purchase of common stock in accounts payable | 0 | (337) |
Common stock issued for acquisition | 0 | 32,393 |
Warrants issued for acquisition | 0 | 1,601 |
Right of use assets obtained in exchange for lease obligations | $ 31 | $ 5,176 |
Note 1 - Description of Busines
Note 1 - Description of Business and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Description of Business Digimarc Corporation ("Digimarc" or the "Company"), an Oregon corporation, is a global leader in product digitization and digital media identification, delivering business value across industries through unique identifiers and cloud-based solutions. Digimarc's technology highlights a product's journey to provide greater visibility into all relevant product data, allowing companies to make more intelligent business decisions. The Digimarc Illuminate platform is a distinctive software as a service (SaaS) cloud-based platform for digitizing products and aggregating their interactions. Product digitization, the act of creating and connecting a digital twin to a physical or digital item via a digital watermark, Quick Response ("QR") code, and/or other digital carrier, enables products to connect with the web and interact with consumers and digital devices. The product's digital twin that comprises events and attributes from and about the product can be customized and automated to deliver unique experiences that benefits customers, brands, retailers, and other stakeholders across a wide variety of digital applications, while capturing a record of every interaction. The Digimarc product suite is built on top of the Digimarc Illuminate platform to address specific business needs and power a trusted and scalable ecosystem in areas like automation, consumer trust and authenticity, and sustainability. All of the Company's products are complementary to each other, providing exponential benefits when combined. By enabling customers to create and connect digital twins to physical and digital items, Digimarc's technologies provide many benefits, including: • Digimarc Validate • Digimarc Engage • Digimarc Recycle • Digimarc Retail Experience Interim Consolidated Financial Statements Our significant accounting policies are detailed in "Note 1: 10 December 31, 2022 March 2, 2023 ( 2022 The accompanying interim consolidated financial statements have been prepared from the Company's records without audit and, in management's opinion, include all adjustments (consisting of only normal recurring adjustments) necessary to fairly reflect the financial condition and the results of operations for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with Generally Accepted Accounting Principles in the United States ("GAAP") have been condensed or omitted in accordance with the rules and regulations of the SEC. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the 2022 not Principles of Consolidation The consolidated financial statements include the accounts of Digimarc and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated. Digimarc acquired EVRYTHNG Limited ("EVRYTHNG") on January 3, 2022. 9 Business Combinations The Company allocates purchase price consideration to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The purchase price is determined based on the fair value of the assets transferred, liabilities assumed, and equity interests issued, after considering any transactions that are separate from the business combination. The fair value of equity issued as part of a business combination is determined based on the closing price of the Company's stock on the date the acquisition closed. The excess of fair value of purchase price consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. Such fair value calculations require management to make significant estimates and assumptions, especially with respect to intangible assets and contingent liabilities. Significant estimates in valuing certain intangible assets include, but are not The estimates are inherently uncertain and subject to revision as additional information is obtained during the measurement period for an acquisition, which may one may Accounting Pronouncements Adopted In June 2016, No. 2016 - 13 , Financial Instruments - Credit Losses (ASC 326 December 15, 2022. January 1, 2023. not |
Note 2 - Fair Value of Financia
Note 2 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 2. The estimated fair values of the Company's financial instruments, which include cash equivalents, accounts receivable, accounts payable and other accrued liabilities, approximate their carrying values due to the short-term nature of these instruments. The Company's marketable securities are classified as available-for-sale and are reported at fair value. Unrealized holding gains and losses are excluded from earnings and are reported net of tax in "accumulated other comprehensive income (loss)" in the Consolidated Balance Sheets until realized. Realized gains and losses are included in "other income (loss), net" in the Consolidated Statements of Operations and are derived using the specific identification method for determining the cost of marketable securities sold. The Company s fair value hierarchy for its cash equivalents and marketable securities was as follows: September 30, 2023 Level 1 Level 2 Level 3 Total Money market securities $ 6,820 $ — $ — $ 6,820 U.S. Treasuries — 13,048 — 13,048 Commercial Paper — 6,361 — 6,361 Federal agency notes — 5,084 — 5,084 Total $ 6,820 $ 24,493 $ — $ 31,313 December 31, 2022 Level 1 Level 2 Level 3 Total Money market securities $ 2,073 $ — $ — $ 2,073 Commercial paper — 35,468 — 35,468 Corporate notes — 8,432 — 8,432 Federal agency notes — 4,423 — 4,423 Total $ 2,073 $ 48,323 $ — $ 50,396 The fair value maturities of the Company's cash equivalents and marketable securities as of September 30, 2023 Maturities by Period Less than 1 5 5 10 More than Total 1 year years years 10 years Cash equivalents and marketable securities $ 31,313 $ 31,313 $ — $ — $ — The Company considers all highly liquid marketable securities with original maturities of 90 September 30, 2023 December 31, 2022 |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. The Company derives its revenue primarily from software subscriptions and software development services. Applicable revenue recognition criteria are considered separately for each performance obligation as follows: • Subscription revenue consists primarily of revenue earned from subscription fees for access to the Company's software as a service platform and products and, to a lesser extent, licensing fees for software products. The majority of subscription contracts are recurring, paid in advance and recognized over the term of the subscription, which is typically one three • Service revenue consists primarily of revenue earned from the performance of software development services and, to a lesser extent, professional services. The majority of software development contracts are structured as time and materials agreements. Revenue for services is generally recognized as the services are performed. Billing for services rendered generally occurs within one Customer arrangements may may not not not All revenue recognized in the Consolidated Statements of Operations is considered to be revenue from contracts with customers. The following table provides information about disaggregated revenue by major target market in the Company's single reporting segment: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Commercial: Subscription $ 4,511 $ 3,786 $ 12,474 $ 10,033 Service 213 389 849 1,851 Total Commercial 4,724 4,175 13,323 11,884 Government: Subscription $ 300 $ 300 $ 900 $ 1,088 Service 3,970 3,346 11,344 10,007 Total Government 4,270 3,646 12,244 11,095 Total $ 8,994 $ 7,821 $ 25,567 $ 22,979 The Company has contract assets from contracts with customers that are classified as "trade accounts receivable" in the Consolidated Balance Sheets. Financial information about trade accounts receivable is included in Note 8. The Company has contract assets from capitalized contract acquisition costs that are classified as "other current assets" and "other assets." These contract acquisition costs are recognized in proportion to the revenue recognized from the contract they are associated with. The following table provides information about contract assets: September 30, December 31, 2023 2022 Contract acquisition costs, current $ 170 $ 197 Contract acquisition costs, long-term 3 104 Total $ 173 $ 301 The Company has contract liabilities from contracts with customers that are classified as "deferred revenue" in the Consolidated Balance Sheets. Deferred revenue consists of billings in advance for subscriptions and services for which the performance obligation has not The following table provides information about contract liabilities: September 30, December 31, 2023 2022 Deferred revenue, current $ 7,315 $ 4,145 Deferred revenue, long-term 169 15 Total $ 7,484 $ 4,160 The Company recognized $3,641 of revenue during the nine September 30, 2023 December 31, 2022 The aggregate amount of the transaction prices from contractual obligations that are unsatisfied or partially unsati sfied was $33,129 and $ September 30, 2023 December 31, 2022 |
Note 4 - Segment Information
Note 4 - Segment Information | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 4. Geographic Information The Company derives its revenue from a single reporting segment: product digitization solutions. Revenue is generated in this segment primarily through software subscriptions and software development services. The Company markets its products in the U.S. and in non-U.S. countries through its sales personnel and partners. Revenue by geographic area, based upon the "bill-to" location, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Domestic $ 2,921 $ 2,889 $ 8,541 $ 7,259 International (1) 6,073 4,932 17,026 15,720 Total $ 8,994 $ 7,821 $ 25,567 $ 22,979 ( 1 Revenue from the Central Banks, consisting of a consortium of central banks around the world, is classified as International revenue. Reporting revenue by country for this customer is not Major Customers The following customers accounted for 10% Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer A 47 % 46 % 48 % 47 % Customer B 21 % 23 % 21 % 15 % Long-Lived Assets by Geographical Area Long-lived assets by geographic area were as follows: September 30, December 31, 2023 2022 United States $ 1,616 $ 2,324 Europe 40 66 Total $ 1,656 $ 2,390 |
Note 5 - Stock-based Compensati
Note 5 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 5. Stock-based compensation includes expense charges for all stock-based awards to employees and directors. These awards include stock options, restricted stock, restricted stock units and performance stock units. Stock-based compensation expense related to internal labor is capitalized to software and patent costs based on direct labor hours charged to capitalized software and patent costs. Determining Fair Value Stock Options The Company estimates the fair value of stock options on the date of grant (measurement date) using the Black-Scholes option pricing model. The Company recognizes the fair value of stock option awards on a straight-line basis over the service period of the award. There were no stock options granted during the nine September 30, 2023 nine September 30, 2022 Restricted Stock Awards The fair value of restricted stock awards ("RSA") that vest upon meeting a service condition is based on the fair market value of the Company's common stock on the date of the grant (measurement date) and is recognized on a straight-line basis over the service period of the award, which is generally three four one three Restricted Stock Units The fair value of restricted stock unit ("RSU") awards that vest upon meeting a service condition is based on the fair market value of the Company's common stock on the date of the grant (measurement date) and is recognized on a straight-line basis over the service period of the award, which is generally three four Performance Stock Units The fair value of performance stock unit ("PSU") awards that vest upon meeting a service condition and a performance condition, such as the Company exceeding a future annual recurring revenue target, is determined based on the probability of achievement of the performance criteria as of each reporting date (measurement dates). The probability of achievement is subject to judgment, and could change from period to period, impacting the amount of expense to be recognized. The Company recognizes the fair value of the award, after adjusting for any changes in the probability of achievement, on a straight-line basis over the service period of the award, which is generally three The fair value of PSU awards that vest upon meeting a service condition and a market condition, such as the Company exceeding shareholder returns as compared to an index of peer companies, is determined on the date of grant (measurement date) using the Monte Carlo valuation model. The Company recognizes the fair value of the award on a straight-line basis over the service period of the award, which is generally three The following inputs are used in the Monte Carlo valuation model to estimate the fair value: Stock Price. Expected Volatility. Risk-Free Interest Rate. Monte Carlo valuation inputs: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock price $ — $ — $ 22.37 $ 32.02 Expected volatility — — 74.7 % 82.8 % Risk-free interest rate — — 4.3 % 1.8 % Stock-Based Compensation Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock-based compensation: Cost of revenue $ 310 $ 270 $ 866 $ 736 Sales and marketing 606 1,461 1,930 3,354 Research, development and engineering 658 916 2,269 2,066 General and administrative 1,118 921 3,081 3,154 Stock-based compensation expense 2,692 3,568 8,146 9,310 Capitalized to software and patent costs 15 29 42 109 Total stock-based compensation $ 2,707 $ 3,597 $ 8,188 $ 9,419 The following table sets forth total unrecognized compensation costs related to non-vested stock-based awards granted under the Company's stock incentive plan: September 30, December 31, 2023 2022 Total unrecognized compensation costs $ 17,623 $ 16,051 Total unrecognized compensation costs will be adjusted for any future forfeitures if and when they occur. The Company expects to recognize the total unrecognized compensation costs as of September 30, 2023 September 30, 2027 RSAs RSUs PSUs Weighted average period (in years) 0.91 1.62 1.89 As of September 30, 2023 1,444 Stock Option Activity The following table presents the outstanding stock option activity: Weighted Weighted Average Average Aggregate Number of Exercise Grant Date Intrinsic Three Months Ended September 30, 2023: Options Price Fair Value Value Outstanding at June 30, 2023 51 $ 39.14 $ 21.72 Granted — $ — $ — Exercised — $ — $ — Forfeited or expired (50 ) $ (39.54 ) $ (21.72 ) Outstanding at September 30, 2023 1 $ 22.15 $ — $ 12 Weighted Weighted Average Average Aggregate Number of Exercise Grant Date Intrinsic Nine Months Ended September 30, 2023: Options Price Fair Value Value Outstanding at December 31, 2022 51 $ 39.14 $ 21.72 Granted — $ — $ — Exercised — $ — $ — Forfeited or expired (50 ) $ (39.54 ) $ (21.72 ) Outstanding at September 30, 2023 1 $ 22.15 $ — $ 12 Exercisable at September 30, 2023 1 $ 22.15 $ — $ 12 Unvested at September 30, 2023 — $ — $ — $ — The aggregate intrinsic value is based on the closing price of $32.49 September 30, 2023 $32.49 Restricted Stock Awards Activity The following table presents the unvested RSA activity: Weighted Average Number of Grant Date Three Months Ended September 30, 2023: Shares Fair Value Unvested balance at June 30, 2023 141 $ 31.04 Granted — $ — Vested (18 ) $ (32.16 ) Forfeited (1 ) $ (35.39 ) Unvested balance at September 30, 2023 122 $ 30.84 Weighted Average Number of Grant Date Nine Months Ended September 30, 2023: Shares Fair Value Unvested balance at December 31, 2022 196 $ 32.06 Granted 45 $ 22.10 Vested (113 ) $ (29.23 ) Forfeited (6 ) $ (34.44 ) Unvested balance at September 30, 2023 122 $ 30.84 The fair value of RSAs vested is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Fair value of RSAs vested $ 613 $ 949 $ 2,071 $ 3,727 Restricted Stock Units Activity The following table presents the unvested RSU activity: Weighted Average Number of Grant Date Three Months Ended September 30, 2023: Shares Fair Value Unvested balance at June 30, 2023 524 $ 23.56 Granted 9 $ 33.84 Vested (44 ) $ (24.34 ) Forfeited (7 ) $ (22.12 ) Unvested balance at September 30, 2023 482 $ 23.68 Weighted Average Number of Grant Date Nine Months Ended September 30, 2023: Shares Fair Value Unvested balance at December 31, 2022 370 $ 24.77 Granted 289 $ 22.86 Vested (117 ) $ (24.43 ) Forfeited (60 ) $ (24.95 ) Unvested balance at September 30, 2023 482 $ 23.68 The fair value of RSU awards vested is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Fair value of RSU awards vested $ 1,486 $ 1,570 $ 3,313 $ 1,903 Performance Stock Units Activity The following table presents the unvested PSU activity: Weighted Average Number of Grant Date Three Months Ended September 30, 2023: Shares Fair Value Unvested balance at June 30, 2023 192 $ 29.01 Change in units based on performance expectations — $ — Granted — $ — Vested — $ — Forfeited — $ — Unvested balance at September 30, 2023 192 $ 29.01 Weighted Average Number of Grant Date Nine Months Ended September 30, 2023: Shares Fair Value Unvested balance at December 31, 2022 67 $ 31.92 Change in units based on performance expectations (6 ) $ (32.02 ) Granted 134 $ 27.75 Vested (2 ) $ (32.02 ) Forfeited (1 ) $ (32.02 ) Unvested balance at September 30, 2023 192 $ 29.01 The fair value of PSU awards vested is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Fair value of PSU awards vested $ — $ — $ 54 $ — |
Note 6 - Shareholders' Equity
Note 6 - Shareholders' Equity | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 6. Equity Registered Direct Offering On April 5, 2022, April 7, 2022. |
Note 7 - Earnings Per Share
Note 7 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. The Company calculates basic and diluted earnings per share in accordance with ASC 260, Earnings Per Share Basic earnings per share excludes dilution and is calculated by dividing earnings by the weighted-average number of shares outstanding for the period. Diluted earnings per share is calculated by dividing earnings by the weighted-average number of shares, as adjusted for the potentially dilutive effect of stock options and unvested RSAs, RSUs, and PSUs. The dilutive effect of stock options and unvested RSAs, RSUs, and PSUs is determined using the treasury stock method. The following table reconciles earnings (loss) per share: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic Earnings (Loss) per Share: Net loss — basic $ (10,723 ) $ (14,930 ) $ (35,386 ) $ (47,350 ) Weighted average shares outstanding — basic 20,217 19,721 20,158 18,877 Basic loss per share $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.51 ) Diluted Earnings (Loss) per Share: Net loss — diluted $ (10,723 ) $ (14,930 ) $ (35,386 ) $ (47,350 ) Weighted average shares outstanding — diluted 20,217 19,721 20,158 18,877 Diluted loss per share $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.51 ) The following table indicates the stock equivalents related to stock options and unvested RSAs, RSUs, and PSUs that were anti-dilutive and excluded from diluted earnings (loss) per share calculations: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Anti-dilutive shares due to: Exercise prices higher than the average market price — 51 — 50 Net loss 237 — 110 — |
Note 8 - Trade Accounts Receiva
Note 8 - Trade Accounts Receivable | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Trade Accounts Receivable Trade accounts receivable are recorded at the contractual or invoiced amount. September 30, December 31, 2023 2022 Trade accounts receivable, current $ 7,156 $ 5,541 Trade accounts receivable, long-term 12 37 Allowance for doubtful accounts (114 ) (114 ) Trade accounts receivable, net $ 7,054 $ 5,464 Unpaid deferred revenue included in trade accounts receivable $ 1,964 $ 2,183 Allowance for Doubtful Accounts The Company's accounts receivable are subject to concentrations of credit risk. The Company maintains an allowance for its doubtful accounts receivable to reflect any estimated credit losses. This allowance is evaluated each quarter on a customer by customer basis and considers historical write-off experience with each customer, the number of days that any delinquent invoices are past due, and an evaluation of the potential risk of loss associated with any delinquent accounts. The Company records the allowance in "general and administrative" expense in the Consolidated Statements of Operations, up to the amount of revenue recognized to date for each account. Any incremental allowance is recorded as an offset to "deferred revenue" in the Consolidated Balance Sheets. Account receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success. Unpaid Deferred Revenue The unpaid deferred revenue that is included in trade accounts receivable is billed in accordance with the provisions of the contracts with the Company's customers. Major Customers The following customers accounted for 10% September 30, December 31, 2023 2022 Company A 39% 55 % Company B 22% * Company C 11% * * Less than 10% |
Note 9 - Business Combination
Note 9 - Business Combination | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 9. On January 3, 2022, 2022 In August 2022, In January 2023, The Company entered into a Loan Agreement with EVRYTHNG (the "Loan Agreement") on December 10, 2021 December 9, 2022. January 3, 2022, The following table presents the final purchase price allocation: Purchase Price Allocation January 3, 2022 Trade accounts receivable, net $ 762 Other current assets 2,178 Property and equipment, net 99 Lease right of use assets and other long-term assets 484 Intangibles 35,720 Goodwill 7,970 Accounts payable and other accrued liabilities (5,395 ) Deferred revenue (1,678 ) Loan payable to related party (2,001 ) Lease liability and other long-term liabilities (205 ) Total purchase price $ 37,934 The Company allocated $35,720 of the purchase price to intangible assets, which consisted of $24,170 of developed technology and $11,550 of customer relationships. Goodwill recognized of $7,970 from the acquisition was primarily attributed to an assembled workforce and expected synergies. The Company incurred transaction costs related to the acquisition of $447 in 2022. Developed Technology Developed technology primarily consists of intellectual property of proprietary software products and platforms that are marketed for sale. The Company valued the developed technology by applying the cost method. The significant assumption and estimate used under the cost method was development costs. The Company is amortizing the developed technology intangible asset on a straight-line basis over an estimated useful life of five Customer Relationships The Company recorded the customer relationships intangible asset separately from goodwill based on a determination of the length, strength and contractual nature of the relationships that EVRYTHNG shared with its customers. The Company valued the single group of customer relationships using the multi-period excess earnings method, which is an income approach. The significant assumptions used in the income approach include estimates about future expected cash flows from customer contracts, the customer attrition rate and the discount rate. The Company is amortizing the customer relationships intangible asset on a straight-line basis over an estimated useful life of 10 years. The following unaudited pro forma consolidated results of operations include the financial results of Digimarc and EVRYTHNG assuming the acquisition was completed on January 1, 2022, not may Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue $ 8,994 $ 7,821 $ 25,567 $ 22,979 Net loss $ (10,723 ) $ (14,930 ) $ (35,386 ) $ (46,903 ) Loss per share: Basic $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.54 ) Diluted $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.54 ) |
Note 10 - Property and Equipmen
Note 10 - Property and Equipment | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 10. Property and equipment are stated at cost. Repairs and maintenance are charged to expense when incurred. Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets, generally two ten September 30, December 31, 2023 2022 Office furniture and fixtures $ 1,435 $ 1,613 Software 5,483 5,747 Equipment 2,523 4,785 Leasehold improvements 1,858 1,861 Gross property and equipment 11,299 14,006 Less accumulated depreciation (9,643 ) (11,616 ) Property and equipment, net $ 1,656 $ 2,390 |
Note 11 - Goodwill
Note 11 - Goodwill | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 11. The Company performs its annual goodwill impairment test during the second may nine September 30, 2023 2022 Balance at December 31, 2022 $ 8,229 Currency translation adjustments 94 Balance at September 30, 2023 $ 8,323 |
Note 12 - Intangibles
Note 12 - Intangibles | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 12. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not nine September 30, 2023 2022 Patent costs associated with the application and award of patents in the U.S. and various other countries are capitalized and amortized on a straight-line basis over the term of the patents as determined at the award date, which varies depending on the pendency period of the application, but generally approximates seventeen Amortization of intangible assets acquired is calculated using the straight-line method over the estimated useful lives of the assets. Estimated Life September 30, December 31, (years) 2023 2022 Capitalized patent costs ~17 $ 9,291 $ 10,646 Intangible assets acquired: Purchased intellectual property 10 250 250 Developed technology 5 21,871 21,661 Customer relationships 10 10,451 10,351 Gross intangible assets 41,863 42,908 Accumulated amortization (12,886 ) (9,738 ) Intangibles, net $ 28,977 $ 33,170 The amortization of capitalized patent costs, purchased intellectual property, and developed technology is recorded in "cost of revenue" and the amortization of customer relationships is recorded in "operating expenses" in the Consolidated Statements of Operations. Amortization expense on intangible assets was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Amortization expense $ 1,550 $ 1,496 $ 4,579 $ 4,756 For intangible assets recorded at September 30, 2023 December 31, 2023 December 31, 2027 Amortization As of September 30, 2023 Expense Remaining in 2023 $ 1,492 2024 $ 5,967 2025 $ 5,946 2026 $ 5,913 2027 $ 1,504 |
Note 13 - Leases
Note 13 - Leases | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 13. The Company leases office space in Beaverton, Oregon. The term of the lease runs through March 2024, September 30, 2023 March 2022 The Company entered into a sublease agreement and lease extension agreement for another facility in Beaverton, Oregon in February 2022 September 2030, September 30, 2023 $8,756 plu first 26 The Company leased office space in London, England under a lease entered into by EVRYTHNG in July 2019. July 2023, September 30, 2023 The Company accounts for leases in accordance with ASC 842, Leases. All of the Company's leases are operating leases. The following table provides additional details of leases presented in the Consolidated Balance Sheets: September 30, December 31, 2023 2022 Lease right of use assets $ 4,108 $ 4,720 Lease liabilities, current $ 468 $ 939 Lease liabilities, long-term $ 6,170 $ 5,977 Weighted-average remaining life (in years) 6.6 6.7 Weighted-average discount rate 9 % 9 % The current lease liabilities are included in "accounts payable and other accrued liabilities" in the Consolidated Balance Sheets. The carrying value of the lease right of use assets is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not second 2023 first 2022, Operating lease expense is included in "operating expenses" in the Consolidated Statements of Operations and in "cash flows from operating activities" in the Consolidated Statements of Cash Flows. The operating leases include variable lease payments, which are included in operating lease expense. Additional details of the Company's operating leases are presented in the following tables: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease expense $ 347 $ 498 $ 1,189 $ 1,422 Cash paid for operating leases $ 260 $ 395 $ 909 $ 1,185 The table below reconciles the aggregate cash payment obligations for the next five September 30, 2023 Cash Payment As of September 30, 2023: Obligations Remaining in 2023 $ 219 2024 1,186 2025 1,317 2026 1,356 2027 1,397 Thereafter 3,751 Total lease payments 9,226 Imputed interest (2,588 ) Total minimum lease payments $ 6,638 |
Note 14 - Other Income
Note 14 - Other Income | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | 14. The following table provides information about other income, net: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest income $ 423 $ 249 $ 1,283 $ 340 Refundable tax credit 120 376 526 878 Foreign currency gains (losses) (65 ) (6 ) 58 (19 ) Other income — 4 3 15 Total other income, net $ 478 $ 623 $ 1,870 $ 1,214 |
Note 15 - Income Taxes
Note 15 - Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 15. The provision for income taxes reflects current taxes and deferred taxes. The effective tax rate for each of the nine September 30, 2023 2022 and 0%, r The valuation allowance against net deferred tax assets as of September 30, 2023 December 31, 2022 not An excess tax benefit of and an excess tax deficiency of were recognized in the provision for income taxes for the three nine September 30, 2023 , respectively, which were offset by and of valuation allowance, respectively. Excess tax deficiencies of $2,355 and $3,170 were recognized in the provision for income taxes for the three nine September 30, 2022 |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 16. Certain of the Company's contracts include an indemnification provision for claims from third 450, Contingencies no The Company is subject from time to time to other legal proceedings and claims arising in the ordinary course of business. At this time, the Company does not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Description of Business [Policy Text Block] | Description of Business Digimarc Corporation ("Digimarc" or the "Company"), an Oregon corporation, is a global leader in product digitization and digital media identification, delivering business value across industries through unique identifiers and cloud-based solutions. Digimarc's technology highlights a product's journey to provide greater visibility into all relevant product data, allowing companies to make more intelligent business decisions. The Digimarc Illuminate platform is a distinctive software as a service (SaaS) cloud-based platform for digitizing products and aggregating their interactions. Product digitization, the act of creating and connecting a digital twin to a physical or digital item via a digital watermark, Quick Response ("QR") code, and/or other digital carrier, enables products to connect with the web and interact with consumers and digital devices. The product's digital twin that comprises events and attributes from and about the product can be customized and automated to deliver unique experiences that benefits customers, brands, retailers, and other stakeholders across a wide variety of digital applications, while capturing a record of every interaction. The Digimarc product suite is built on top of the Digimarc Illuminate platform to address specific business needs and power a trusted and scalable ecosystem in areas like automation, consumer trust and authenticity, and sustainability. All of the Company's products are complementary to each other, providing exponential benefits when combined. By enabling customers to create and connect digital twins to physical and digital items, Digimarc's technologies provide many benefits, including: • Digimarc Validate • Digimarc Engage • Digimarc Recycle • Digimarc Retail Experience |
Basis of Accounting, Policy [Policy Text Block] | Interim Consolidated Financial Statements Our significant accounting policies are detailed in "Note 1: 10 December 31, 2022 March 2, 2023 ( 2022 The accompanying interim consolidated financial statements have been prepared from the Company's records without audit and, in management's opinion, include all adjustments (consisting of only normal recurring adjustments) necessary to fairly reflect the financial condition and the results of operations for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with Generally Accepted Accounting Principles in the United States ("GAAP") have been condensed or omitted in accordance with the rules and regulations of the SEC. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the 2022 not |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of Digimarc and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated. Digimarc acquired EVRYTHNG Limited ("EVRYTHNG") on January 3, 2022. 9 |
Business Combinations Policy [Policy Text Block] | Business Combinations The Company allocates purchase price consideration to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The purchase price is determined based on the fair value of the assets transferred, liabilities assumed, and equity interests issued, after considering any transactions that are separate from the business combination. The fair value of equity issued as part of a business combination is determined based on the closing price of the Company's stock on the date the acquisition closed. The excess of fair value of purchase price consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. Such fair value calculations require management to make significant estimates and assumptions, especially with respect to intangible assets and contingent liabilities. Significant estimates in valuing certain intangible assets include, but are not The estimates are inherently uncertain and subject to revision as additional information is obtained during the measurement period for an acquisition, which may one may |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements Adopted In June 2016, No. 2016 - 13 , Financial Instruments - Credit Losses (ASC 326 December 15, 2022. January 1, 2023. not |
Note 2 - Fair Value of Financ_2
Note 2 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2023 Level 1 Level 2 Level 3 Total Money market securities $ 6,820 $ — $ — $ 6,820 U.S. Treasuries — 13,048 — 13,048 Commercial Paper — 6,361 — 6,361 Federal agency notes — 5,084 — 5,084 Total $ 6,820 $ 24,493 $ — $ 31,313 December 31, 2022 Level 1 Level 2 Level 3 Total Money market securities $ 2,073 $ — $ — $ 2,073 Commercial paper — 35,468 — 35,468 Corporate notes — 8,432 — 8,432 Federal agency notes — 4,423 — 4,423 Total $ 2,073 $ 48,323 $ — $ 50,396 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Maturities by Period Less than 1 5 5 10 More than Total 1 year years years 10 years Cash equivalents and marketable securities $ 31,313 $ 31,313 $ — $ — $ — |
Note 3 - Revenue Recognition (T
Note 3 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Commercial: Subscription $ 4,511 $ 3,786 $ 12,474 $ 10,033 Service 213 389 849 1,851 Total Commercial 4,724 4,175 13,323 11,884 Government: Subscription $ 300 $ 300 $ 900 $ 1,088 Service 3,970 3,346 11,344 10,007 Total Government 4,270 3,646 12,244 11,095 Total $ 8,994 $ 7,821 $ 25,567 $ 22,979 |
Contract With Customers, Contract Acquisition Costs [Table Text Block] | September 30, December 31, 2023 2022 Contract acquisition costs, current $ 170 $ 197 Contract acquisition costs, long-term 3 104 Total $ 173 $ 301 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | September 30, December 31, 2023 2022 Deferred revenue, current $ 7,315 $ 4,145 Deferred revenue, long-term 169 15 Total $ 7,484 $ 4,160 |
Note 4 - Segment Information (T
Note 4 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Domestic $ 2,921 $ 2,889 $ 8,541 $ 7,259 International (1) 6,073 4,932 17,026 15,720 Total $ 8,994 $ 7,821 $ 25,567 $ 22,979 |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer A 47 % 46 % 48 % 47 % Customer B 21 % 23 % 21 % 15 % |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | September 30, December 31, 2023 2022 United States $ 1,616 $ 2,324 Europe 40 66 Total $ 1,656 $ 2,390 |
Note 5 - Stock-based Compensa_2
Note 5 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock-based compensation: Cost of revenue $ 310 $ 270 $ 866 $ 736 Sales and marketing 606 1,461 1,930 3,354 Research, development and engineering 658 916 2,269 2,066 General and administrative 1,118 921 3,081 3,154 Stock-based compensation expense 2,692 3,568 8,146 9,310 Capitalized to software and patent costs 15 29 42 109 Total stock-based compensation $ 2,707 $ 3,597 $ 8,188 $ 9,419 |
Share-Based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | September 30, December 31, 2023 2022 Total unrecognized compensation costs $ 17,623 $ 16,051 |
Employee Service Share Based Compensation Non Vested Awards Compensation Cost Not Yet Recognized Period for Recognition [Table Text Block] | RSAs RSUs PSUs Weighted average period (in years) 0.91 1.62 1.89 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Aggregate Number of Exercise Grant Date Intrinsic Three Months Ended September 30, 2023: Options Price Fair Value Value Outstanding at June 30, 2023 51 $ 39.14 $ 21.72 Granted — $ — $ — Exercised — $ — $ — Forfeited or expired (50 ) $ (39.54 ) $ (21.72 ) Outstanding at September 30, 2023 1 $ 22.15 $ — $ 12 Weighted Weighted Average Average Aggregate Number of Exercise Grant Date Intrinsic Nine Months Ended September 30, 2023: Options Price Fair Value Value Outstanding at December 31, 2022 51 $ 39.14 $ 21.72 Granted — $ — $ — Exercised — $ — $ — Forfeited or expired (50 ) $ (39.54 ) $ (21.72 ) Outstanding at September 30, 2023 1 $ 22.15 $ — $ 12 Exercisable at September 30, 2023 1 $ 22.15 $ — $ 12 Unvested at September 30, 2023 — $ — $ — $ — |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Weighted Average Number of Grant Date Three Months Ended September 30, 2023: Shares Fair Value Unvested balance at June 30, 2023 141 $ 31.04 Granted — $ — Vested (18 ) $ (32.16 ) Forfeited (1 ) $ (35.39 ) Unvested balance at September 30, 2023 122 $ 30.84 Weighted Average Number of Grant Date Nine Months Ended September 30, 2023: Shares Fair Value Unvested balance at December 31, 2022 196 $ 32.06 Granted 45 $ 22.10 Vested (113 ) $ (29.23 ) Forfeited (6 ) $ (34.44 ) Unvested balance at September 30, 2023 122 $ 30.84 |
Schedule of Fair Value of Restricted Stock Awards Vested [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Fair value of RSAs vested $ 613 $ 949 $ 2,071 $ 3,727 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted Average Number of Grant Date Three Months Ended September 30, 2023: Shares Fair Value Unvested balance at June 30, 2023 524 $ 23.56 Granted 9 $ 33.84 Vested (44 ) $ (24.34 ) Forfeited (7 ) $ (22.12 ) Unvested balance at September 30, 2023 482 $ 23.68 Weighted Average Number of Grant Date Nine Months Ended September 30, 2023: Shares Fair Value Unvested balance at December 31, 2022 370 $ 24.77 Granted 289 $ 22.86 Vested (117 ) $ (24.43 ) Forfeited (60 ) $ (24.95 ) Unvested balance at September 30, 2023 482 $ 23.68 |
Schedule of Fair Value of Restricted Stock Units Vested [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Fair value of RSU awards vested $ 1,486 $ 1,570 $ 3,313 $ 1,903 |
Schedule of Fair Value of Performance Stock Units Vested [Table Text Block] | Weighted Average Number of Grant Date Three Months Ended September 30, 2023: Shares Fair Value Unvested balance at June 30, 2023 192 $ 29.01 Change in units based on performance expectations — $ — Granted — $ — Vested — $ — Forfeited — $ — Unvested balance at September 30, 2023 192 $ 29.01 Weighted Average Number of Grant Date Nine Months Ended September 30, 2023: Shares Fair Value Unvested balance at December 31, 2022 67 $ 31.92 Change in units based on performance expectations (6 ) $ (32.02 ) Granted 134 $ 27.75 Vested (2 ) $ (32.02 ) Forfeited (1 ) $ (32.02 ) Unvested balance at September 30, 2023 192 $ 29.01 Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Fair value of PSU awards vested $ — $ — $ 54 $ — |
Black Scholes Option Valuation [Member] | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock price $ — $ — $ 22.37 $ 32.02 Expected volatility — — 74.7 % 82.8 % Risk-free interest rate — — 4.3 % 1.8 % |
Note 7 - Earnings Per Share (Ta
Note 7 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic Earnings (Loss) per Share: Net loss — basic $ (10,723 ) $ (14,930 ) $ (35,386 ) $ (47,350 ) Weighted average shares outstanding — basic 20,217 19,721 20,158 18,877 Basic loss per share $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.51 ) Diluted Earnings (Loss) per Share: Net loss — diluted $ (10,723 ) $ (14,930 ) $ (35,386 ) $ (47,350 ) Weighted average shares outstanding — diluted 20,217 19,721 20,158 18,877 Diluted loss per share $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.51 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Anti-dilutive shares due to: Exercise prices higher than the average market price — 51 — 50 Net loss 237 — 110 — |
Note 8 - Trade Accounts Recei_2
Note 8 - Trade Accounts Receivable (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2023 2022 Trade accounts receivable, current $ 7,156 $ 5,541 Trade accounts receivable, long-term 12 37 Allowance for doubtful accounts (114 ) (114 ) Trade accounts receivable, net $ 7,054 $ 5,464 Unpaid deferred revenue included in trade accounts receivable $ 1,964 $ 2,183 |
Schedule of Accounts Receivable By Major Customers By Reporting Segments [Table Text Block] | September 30, December 31, 2023 2022 Company A 39% 55 % Company B 22% * Company C 11% * |
Note 9 - Business Combination (
Note 9 - Business Combination (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Purchase Price Allocation January 3, 2022 Trade accounts receivable, net $ 762 Other current assets 2,178 Property and equipment, net 99 Lease right of use assets and other long-term assets 484 Intangibles 35,720 Goodwill 7,970 Accounts payable and other accrued liabilities (5,395 ) Deferred revenue (1,678 ) Loan payable to related party (2,001 ) Lease liability and other long-term liabilities (205 ) Total purchase price $ 37,934 |
Business Acquisition, Pro Forma Information [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue $ 8,994 $ 7,821 $ 25,567 $ 22,979 Net loss $ (10,723 ) $ (14,930 ) $ (35,386 ) $ (46,903 ) Loss per share: Basic $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.54 ) Diluted $ (0.53 ) $ (0.76 ) $ (1.76 ) $ (2.54 ) |
Note 10 - Property and Equipm_2
Note 10 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31, 2023 2022 Office furniture and fixtures $ 1,435 $ 1,613 Software 5,483 5,747 Equipment 2,523 4,785 Leasehold improvements 1,858 1,861 Gross property and equipment 11,299 14,006 Less accumulated depreciation (9,643 ) (11,616 ) Property and equipment, net $ 1,656 $ 2,390 |
Note 11 - Goodwill (Tables)
Note 11 - Goodwill (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Balance at December 31, 2022 $ 8,229 Currency translation adjustments 94 Balance at September 30, 2023 $ 8,323 |
Note 12 - Intangibles (Tables)
Note 12 - Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Estimated Life September 30, December 31, (years) 2023 2022 Capitalized patent costs ~17 $ 9,291 $ 10,646 Intangible assets acquired: Purchased intellectual property 10 250 250 Developed technology 5 21,871 21,661 Customer relationships 10 10,451 10,351 Gross intangible assets 41,863 42,908 Accumulated amortization (12,886 ) (9,738 ) Intangibles, net $ 28,977 $ 33,170 |
Finite-Lived Intangible Assets Amortization Expense [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Amortization expense $ 1,550 $ 1,496 $ 4,579 $ 4,756 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Amortization As of September 30, 2023 Expense Remaining in 2023 $ 1,492 2024 $ 5,967 2025 $ 5,946 2026 $ 5,913 2027 $ 1,504 |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lessee Operating Lease Details of Leases Presented in Balance Sheets [Table Text Block] | September 30, December 31, 2023 2022 Lease right of use assets $ 4,108 $ 4,720 Lease liabilities, current $ 468 $ 939 Lease liabilities, long-term $ 6,170 $ 5,977 Weighted-average remaining life (in years) 6.6 6.7 Weighted-average discount rate 9 % 9 % |
Lease, Cost [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease expense $ 347 $ 498 $ 1,189 $ 1,422 Cash paid for operating leases $ 260 $ 395 $ 909 $ 1,185 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Cash Payment As of September 30, 2023: Obligations Remaining in 2023 $ 219 2024 1,186 2025 1,317 2026 1,356 2027 1,397 Thereafter 3,751 Total lease payments 9,226 Imputed interest (2,588 ) Total minimum lease payments $ 6,638 |
Note 14 - Other Income (Tables)
Note 14 - Other Income (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest income $ 423 $ 249 $ 1,283 $ 340 Refundable tax credit 120 376 526 878 Foreign currency gains (losses) (65 ) (6 ) 58 (19 ) Other income — 4 3 15 Total other income, net $ 478 $ 623 $ 1,870 $ 1,214 |
Note 2 - Fair Value of Financ_3
Note 2 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents, at Carrying Value | $ 30,317 | $ 31,452 |
Note 2 - Fair Value of Financ_4
Note 2 - Fair Value of Financial Instruments - Summary of Fair Value Hierarchy for Financial Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Assets, fair value | $ 31,313 | |
Fair Value, Recurring [Member] | ||
Assets, fair value | 31,313 | $ 50,396 |
Fair Value, Recurring [Member] | Money Market Securities [Member] | ||
Assets, fair value | 6,820 | 2,073 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Assets, fair value | 13,048 | |
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Assets, fair value | 6,361 | 35,468 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Assets, fair value | 8,432 | |
Fair Value, Recurring [Member] | Federal Agency Notes [Member] | ||
Assets, fair value | 5,084 | 4,423 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 6,820 | 2,073 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Securities [Member] | ||
Assets, fair value | 6,820 | 2,073 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Assets, fair value | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Assets, fair value | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Federal Agency Notes [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 24,493 | 48,323 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Securities [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||
Assets, fair value | 13,048 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Assets, fair value | 6,361 | 35,468 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Assets, fair value | 8,432 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Federal Agency Notes [Member] | ||
Assets, fair value | 5,084 | 4,423 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Securities [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | ||
Assets, fair value | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Assets, fair value | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Federal Agency Notes [Member] | ||
Assets, fair value | $ 0 | $ 0 |
Note 2 - Fair Value of Financ_5
Note 2 - Fair Value of Financial Instruments - Summary of Fair Value Maturities for Financial Asset (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Assets, fair value | $ 31,313 |
Cash equivalents and marketable securities, less than 1 year | 31,313 |
Cash equivalents and marketable securities, 1-5 years | 0 |
Cash equivalents and marketable securities, 5-10 years | 0 |
Cash equivalents and marketable securities, more than 10 years | $ 0 |
Note 3 - Revenue Recognition (D
Note 3 - Revenue Recognition (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | |
Subscription Revenue Term, Minimum (Year) | 1 year | |
Subscription Revenue Term, Maximum (Year) | 3 years | |
Period of Revenue From Services (Month) | 1 month | |
Contract with Customer, Liability, Revenue Recognized | $ 3,641 | |
Contract With Customer Liability, Transaction Price From Contractual Obligations | $ 33,129 | $ 29,600 |
Note 3 - Revenue Recognition -
Note 3 - Revenue Recognition - Schedule of Disaggregated Revenue By Major Product Line in Single Reporting Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue | $ 8,994 | $ 7,821 | $ 25,567 | $ 22,979 |
Commercial [Member] | ||||
Revenue | 4,724 | 4,175 | 13,323 | 11,884 |
The Government [Member] | ||||
Revenue | 4,270 | 3,646 | 12,244 | 11,095 |
Subscription [Member] | ||||
Revenue | 4,811 | 4,086 | 13,374 | 11,121 |
Subscription [Member] | Commercial [Member] | ||||
Revenue | 4,511 | 3,786 | 12,474 | 10,033 |
Subscription [Member] | The Government [Member] | ||||
Revenue | 300 | 300 | 900 | 1,088 |
Service [Member] | ||||
Revenue | 4,183 | 3,735 | 12,193 | 11,858 |
Service [Member] | Commercial [Member] | ||||
Revenue | 213 | 389 | 849 | 1,851 |
Service [Member] | The Government [Member] | ||||
Revenue | $ 3,970 | $ 3,346 | $ 11,344 | $ 10,007 |
Note 3 - Revenue Recognition _2
Note 3 - Revenue Recognition - Schedule of Contract Liabilities from Contracts with Customers from Acquisition (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Contract acquisition costs, current | $ 170 | $ 197 |
Contract acquisition costs, long-term | 3 | 104 |
Total | $ 173 | $ 301 |
Note 3 - Revenue Recognition _3
Note 3 - Revenue Recognition - Schedule of Contract Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Deferred revenue, current | $ 7,315 | $ 4,145 |
Deferred revenue, long-term | 169 | 15 |
Total | $ 7,484 | $ 4,160 |
Note 4 - Segment Information -
Note 4 - Segment Information - Geographical Segment Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||
Revenue | $ 8,994 | $ 7,821 | $ 25,567 | $ 22,979 | |
UNITED STATES | |||||
Revenue | 2,921 | 2,889 | 8,541 | 7,259 | |
Non-US [Member] | |||||
Revenue | [1] | $ 6,073 | $ 4,932 | $ 17,026 | $ 15,720 |
[1]Revenue from the Central Banks, consisting of a consortium of central banks around the world, is classified as international revenue. Reporting revenue by country for this customer is not practicable. |
Note 4 - Segment Information _2
Note 4 - Segment Information - Customers Accounted for 10% or More of Revenue (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member] | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Customer A [Member] | ||||
Entity wide revenue major customers percentage | 47% | 46% | 48% | 47% |
Customer B [Member] | ||||
Entity wide revenue major customers percentage | 21% | 23% | 21% | 15% |
Note 4 - Segment Information _3
Note 4 - Segment Information - Long-Lived Tangible Assets by Geographical Area (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Long-lived tangible assets | $ 88,842 | $ 113,777 |
Operating Segments [Member] | ||
Long-lived tangible assets | 1,656 | 2,390 |
Operating Segments [Member] | UNITED STATES | ||
Long-lived tangible assets | 1,616 | 2,324 |
Operating Segments [Member] | Europe [Member] | ||
Long-lived tangible assets | $ 40 | $ 66 |
Note 5 - Stock-based Compensa_3
Note 5 - Stock-based Compensation (Details Textual) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Jan. 03, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | 1,000 | |
Share Price (in dollars per share) | $ 32.49 | $ 32.49 | $ 40.84 | |
Restricted Stock [Member] | Employee [Member] | Minimum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||
Restricted Stock [Member] | Employee [Member] | Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||
Restricted Stock [Member] | Director [Member] | Minimum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year | |||
Restricted Stock [Member] | Director [Member] | Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||
Restricted Stock Units (RSUs) [Member] | Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||
Performance Shares [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||
Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 1,444 | 1,444 |
Note 5 - Stock-Based Compensa_4
Note 5 - Stock-Based Compensation - Stock Option Valuation Assumptions (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Stock price (in dollars per share) | $ 0 | $ 0 | ||
Share-Based Payment Arrangement, Option [Member] | ||||
Stock price (in dollars per share) | $ 0 | $ 0 | $ 22.37 | $ 32.02 |
Expected volatility | 0% | 0% | 74.70% | 82.80% |
Risk-free interest rate | 0% | 0% | 4.30% | 1.80% |
Note 5 - Stock-Based Compensa_5
Note 5 - Stock-Based Compensation - Allocation of Stock-Based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Stock-based compensation expense | $ 2,692 | $ 3,568 | $ 8,146 | $ 9,310 |
Stock-based compensation capitalized to software and patent costs | 15 | 29 | 42 | 109 |
Total stock-based compensation | 2,707 | 3,597 | 8,188 | 9,419 |
Cost of Sales [Member] | ||||
Stock-based compensation expense | 310 | 270 | 866 | 736 |
Selling and Marketing Expense [Member] | ||||
Stock-based compensation expense | 606 | 1,461 | 1,930 | 3,354 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 658 | 916 | 2,269 | 2,066 |
General and Administrative Expense [Member] | ||||
Stock-based compensation expense | $ 1,118 | $ 921 | $ 3,081 | $ 3,154 |
Note 5 - Stock-Based Compensa_6
Note 5 - Stock-Based Compensation - Unrecognized Compensation Cost Related to Non-Vested Stock-Based Awards Granted (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Total unrecognized compensation costs | $ 17,623 | $ 16,051 |
Note 5 - Stock-Based Compensa_7
Note 5 - Stock-Based Compensation - Weighted Average Period for Recognition of Unrecognized Compensation Cost for Stock Options and Restricted Stock (Details) | 9 Months Ended |
Sep. 30, 2023 | |
Restricted Stock [Member] | |
Weighted average period (in years) (Year) | 10 months 28 days |
Restricted Stock Units (RSUs) [Member] | |
Weighted average period (in years) (Year) | 1 year 7 months 13 days |
Performance Shares [Member] | |
Weighted average period (in years) (Year) | 1 year 10 months 20 days |
Note 5 - Stock-based Compensa_8
Note 5 - Stock-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | |
Options outstanding, shares (in shares) | 51 | 51 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 39.14 | $ 39.14 | |
Options outstanding, weighted average grant date fair value (in dollars per share) | $ 21.72 | $ 21.72 | |
Granted, shares (in shares) | 0 | 0 | 1 |
Stock price (in dollars per share) | $ 0 | $ 0 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 | |
Exercised, shares (in shares) | 0 | 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | |
Exercised, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 | |
Forfeited or expired, shares (in shares) | (50) | (50) | |
Forfeited or expired, weighted average exercise price (in dollars per share) | $ (39.54) | $ (39.54) | |
Forfeited or expired, weighted average grant date fair value (in dollars per share) | $ (21.72) | $ (21.72) | |
Options outstanding, shares (in shares) | 1 | 1 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 22.15 | $ 22.15 | |
Options outstanding, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 | |
Options outstanding, aggregate intrinsic value | $ 12 | $ 12 | |
Options exercisable, shares (in shares) | 1 | 1 | |
Options exercisable, weighted average exercise price (in dollars per share) | $ 22.15 | $ 22.15 | |
Options unvested, shares (in shares) | 0 | 0 |
Note 5 - Stock-Based Compensa_9
Note 5 - Stock-Based Compensation - Schedule of Unvested Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | |
Unvested (in shares) | 141 | 196 |
Unvested, weighted average grant date fair value (in dollars per share) | $ 31.04 | $ 32.06 |
Granted (in shares) | 0 | 45 |
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 22.1 |
Vested (in shares) | (18) | (113) |
Vested, weighted average grant date fair value (in dollars per share) | $ (32.16) | $ (29.23) |
Forfeited (in shares) | (1) | (6) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ (35.39) | $ (34.44) |
Unvested (in shares) | 122 | 122 |
Unvested, weighted average grant date fair value (in dollars per share) | $ 30.84 | $ 30.84 |
Note 5 - Stock-Based Compens_10
Note 5 - Stock-Based Compensation - Fair Value of Vested Restricted Stock Awards (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Restricted Stock [Member] | ||||
Fair value of RSAs vested | $ 613 | $ 949 | $ 2,071 | $ 3,727 |
Note 5 - Stock-Based Compens_11
Note 5 - Stock-Based Compensation - Schedule of Unvested Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | |
Unvested (in shares) | 524 | 370 |
Unvested, weighted average grant date fair value (in dollars per share) | $ 23.56 | $ 24.77 |
Granted (in shares) | 9 | 289 |
Granted, weighted average grant date fair value (in dollars per share) | $ 33.84 | $ 22.86 |
Vested (in shares) | (44) | (117) |
Vested, weighted average grant date fair value (in dollars per share) | $ (24.34) | $ (24.43) |
Forfeited (in shares) | (7) | (60) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ (22.12) | $ (24.95) |
Unvested (in shares) | 482 | 482 |
Unvested, weighted average grant date fair value (in dollars per share) | $ 23.68 | $ 23.68 |
Note 5 - Stock-Based Compens_12
Note 5 - Stock-Based Compensation - Fair Value of Vested Restricted Stock Units (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Restricted Stock Units (RSUs) [Member] | ||||
Fair value of RSAs vested | $ 1,486 | $ 1,570 | $ 3,313 | $ 1,903 |
Note 5 - Stock-Based Compens_13
Note 5 - Stock-Based Compensation - Fair Value of Vested Performance Stock Units (Details) - Performance Shares [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Unvested (in shares) | 192 | 67 | ||
Unvested, weighted average grant date fair value (in dollars per share) | $ 29.01 | $ 31.92 | ||
Change in units based on performance expectations (in shares) | 0 | (6) | ||
Change in units based on performance expectations, weighted average grant date fair valu (in dollars per share) | $ 0 | $ (32.02) | ||
Granted (in shares) | 0 | 134 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 27.75 | ||
Vested (in shares) | 0 | (2) | ||
Vested, weighted average grant date fair value (in dollars per share) | $ 0 | $ (32.02) | ||
Forfeited (in shares) | 0 | (1) | ||
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | $ (32.02) | ||
Unvested (in shares) | 192 | 192 | ||
Unvested, weighted average grant date fair value (in dollars per share) | $ 29.01 | $ 29.01 | ||
Fair value of RSAs vested | $ 0 | $ 0 | $ 54 | $ 0 |
Note 6 - Shareholders' Equity (
Note 6 - Shareholders' Equity (Details Textual) - Common Stock [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Apr. 07, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Stock Issued During Period, Shares, New Issues (in shares) | 22 | 10 | 3,044 | |
Registered Direct Offering [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,250 | |||
Shares Issued, Price Per Share (in dollars per share) | $ 25.9 | |||
Proceeds from Issuance of Common Stock | $ 58,275 | |||
Legal Fees | $ 55 |
Note 7 - Earnings Per Share - S
Note 7 - Earnings Per Share - Summary of Reconciliation of Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net loss — basic | $ (10,723) | $ (14,930) | $ (35,386) | $ (47,350) |
Weighted average shares outstanding — basic (in shares) | 20,217 | 19,721 | 20,158 | 18,877 |
Basic loss per share (in dollars per share) | $ (0.53) | $ (0.76) | $ (1.76) | $ (2.51) |
Weighted average shares outstanding — diluted (in shares) | 20,217 | 19,721 | 20,158 | 18,877 |
Diluted loss per share (in dollars per share) | $ (0.53) | $ (0.76) | $ (1.76) | $ (2.51) |
Note 7 - Earnings Per Share -_2
Note 7 - Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Common stock equivalents related to stock options that were anti-dilutive and excluded from diluted net income per share (in shares) | 237 | 0 | 110 | 0 |
Higher Than Average Market Price [Member] | ||||
Common stock equivalents related to stock options that were anti-dilutive and excluded from diluted net income per share (in shares) | 0 | 51 | 0 | 50 |
Note 8 - Trade Accounts Recei_3
Note 8 - Trade Accounts Receivable - Summary of Trade Accounts Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Trade accounts receivable, current | $ 7,156 | $ 5,541 |
Trade accounts receivable, long-term | 12 | 37 |
Allowance for doubtful accounts | (114) | (114) |
Trade accounts receivable, net | 7,054 | 5,464 |
Unpaid deferred revenue included in trade accounts receivable | $ 1,964 | $ 2,183 |
Note 8 - Trade Accounts Recei_4
Note 8 - Trade Accounts Receivable - Customers Accounted for 10% or More of Trade Accounts Receivable, Net (Details) - Customer Concentration Risk [Member] - Accounts Receivable [Member] | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Company A [Member] | ||
Entity wide revenue major customers percentage | 39% | 55% |
Company B [Member] | ||
Entity wide revenue major customers percentage | 22% | |
Company C [Member] | ||
Entity wide revenue major customers percentage | 11% |
Note 9 - Business Combination_2
Note 9 - Business Combination (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jan. 03, 2022 USD ($) $ / shares shares | Jan. 31, 2023 USD ($) shares | Aug. 31, 2022 USD ($) shares | Sep. 30, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) | Dec. 10, 2021 USD ($) | |
Share Price (in dollars per share) | $ / shares | $ 40.84 | $ 32.49 | ||||
Goodwill | $ 8,323 | $ 8,229 | ||||
Developed Technology Rights [Member] | ||||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 5 years | |||||
Customer Relationships [Member] | ||||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years | |||||
EVRYTHING [Member] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 2,001 | |||||
EVRYTHING [Member] | Digimarc Corporation [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1% | |||||
EVRYTHING [Member] | ||||||
Business Combination, Consideration Transferred, Total | $ 36,634 | |||||
Business Combination, Payments for Closing Cost | 3,986 | |||||
Cash Acquired from Acquisition | 474 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 35,720 | |||||
Goodwill | 7,970 | |||||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Costs | $ 447 | |||||
EVRYTHING [Member] | Developed Technology Rights [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 24,170 | |||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 5 years | |||||
EVRYTHING [Member] | Customer Relationships [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 11,550 | |||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years | |||||
EVRYTHING [Member] | Warrants to Purchase Common Stock [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 36.56 | |||||
EVRYTHING [Member] | Warrants to Purchase Common Stock [Member] | Measurement Input, Price Volatility [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.60 | |||||
EVRYTHING [Member] | Common Stock [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 772 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 31,519 | |||||
EVRYTHING [Member] | Warrants to Purchase Common Stock [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 231 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,601 | |||||
EVRYTHING [Member] | Common Stock Original Held for Post Closing Adjustments [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 10 | 22 | ||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 428 | $ 872 |
Note 9 - Business Combination -
Note 9 - Business Combination - Purchase Price Allocation (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Jan. 03, 2022 |
Goodwill | $ 8,323 | $ 8,229 | |
EVRYTHING [Member] | |||
Trade accounts receivable, net | $ 762 | ||
Other current assets | 2,178 | ||
Property and equipment, net | 99 | ||
Lease right of use assets and other long-term assets | 484 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 35,720 | ||
Goodwill | 7,970 | ||
Accounts payable and other accrued liabilities | (5,395) | ||
Deferred revenue | (1,678) | ||
Loan payable to related party | (2,001) | ||
Lease liability and other long-term liabilities | (205) | ||
Total purchase price | $ 37,934 |
Note 9 - Business Combination_3
Note 9 - Business Combination - Pro Forma Results (Details) - EVRYTHING [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue | $ 8,994 | $ 7,821 | $ 25,567 | $ 22,979 |
Net loss | $ (10,723) | $ (14,930) | $ (35,386) | $ (46,903) |
Basic (in dollars per share) | $ (0.53) | $ (0.76) | $ (1.76) | $ (2.54) |
Diluted (in dollars per share) | $ (0.53) | $ (0.76) | $ (1.76) | $ (2.54) |
Note 10 - Property and Equipm_3
Note 10 - Property and Equipment (Details Textual) | Sep. 30, 2023 |
Minimum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 2 years |
Maximum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 10 years |
Note 10 - Property and Equipm_4
Note 10 - Property and Equipment - Depreciation and Amortization On Property and Equipment Using the Straight-line Method (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Office furniture and fixtures | $ 1,435 | $ 1,613 |
Software | 5,483 | 5,747 |
Equipment | 2,523 | 4,785 |
Leasehold improvements | 1,858 | 1,861 |
Gross property and equipment | 11,299 | 14,006 |
Less accumulated depreciation | (9,643) | (11,616) |
Property and equipment, net | $ 1,656 | $ 2,390 |
Note 11 - Goodwill (Details Tex
Note 11 - Goodwill (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Goodwill, Impairment Loss | $ 0 | $ 0 |
Note 11 - Goodwill - Summary of
Note 11 - Goodwill - Summary of Goodwill (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Balance | $ 8,229 |
Currency translation adjustments | 94 |
Balance | $ 8,323 |
Note 12 - Intangibles (Details
Note 12 - Intangibles (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | $ 0 |
Note 12 - Intangibles - Amortiz
Note 12 - Intangibles - Amortization of Intangible Assets Acquired (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | |
Intangibles, gross | $ 41,863 | |
Accumulated amortization | (12,886) | |
Intangibles, net | $ 28,977 | |
Maximum [Member] | ||
Intangibles, gross | $ 42,908 | |
Accumulated amortization | (9,738) | |
Intangibles, net | 33,170 | |
Patents [Member] | ||
Estimated useful life (Year) | 17 years | |
Intangibles, gross | $ 9,291 | |
Patents [Member] | Maximum [Member] | ||
Intangibles, gross | 10,646 | |
Intellectual Property [Member] | ||
Estimated useful life (Year) | 10 years | |
Intangibles, gross | $ 250 | |
Intellectual Property [Member] | Maximum [Member] | ||
Intangibles, gross | 250 | |
Developed Technology Rights [Member] | ||
Estimated useful life (Year) | 5 years | |
Intangibles, gross | $ 21,871 | |
Developed Technology Rights [Member] | Maximum [Member] | ||
Intangibles, gross | 21,661 | |
Customer Relationships [Member] | ||
Estimated useful life (Year) | 10 years | |
Intangibles, gross | $ 10,451 | |
Customer Relationships [Member] | Maximum [Member] | ||
Intangibles, gross | $ 10,351 |
Note 12 - Intangibles - Amort_2
Note 12 - Intangibles - Amortization Expense on Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Amortization expense | $ 1,550 | $ 1,496 | $ 4,579 | $ 4,756 |
Note 12 - Intangibles - Estimat
Note 12 - Intangibles - Estimated Future Aggregate Amortization Expense (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Remaining in 2023 | $ 1,492 |
2024 | 5,967 |
2025 | 5,946 |
2026 | 5,913 |
2027 | $ 1,504 |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2022 | Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Lessee, Operating Lease, Liability, to be Paid | $ 9,226 | $ 9,226 | ||||
Operating Lease, Impairment Loss | 0 | $ 0 | 250 | $ 574 | ||
Former Corporate Office in Beaverton, Oregon [Member] | ||||||
Lessee, Operating Lease, Liability, to be Paid | 435 | 435 | ||||
Operating Lease, Impairment Loss | $ 574 | $ 250 | ||||
Corporate Office in Beaverton, Oregon [Member] | ||||||
Lessee, Operating Lease, Liability, to be Paid | 8,756 | 8,756 | ||||
Office Space in London, England [Member] | ||||||
Lessee, Operating Lease, Liability, to be Paid | $ 0 | $ 0 |
Note 13 - Leases - Additional D
Note 13 - Leases - Additional Details of Leases Presented in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Lease right of use assets | $ 4,108 | $ 4,720 |
Lease liabilities, long-term | $ 6,170 | $ 5,977 |
Weighted-average remaining life (in years) (Year) | 6 years 7 months 6 days | 6 years 8 months 12 days |
Weighted-average discount rate | 9% | 9% |
Accounts Payable and Other Accrued Liabilities [Member] | ||
Lease liabilities, current | $ 468 | $ 939 |
Note 13 - Leases - Additional_2
Note 13 - Leases - Additional Details of Operating Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating lease expense | $ 347 | $ 498 | $ 1,189 | $ 1,422 |
Cash paid for operating leases | $ 260 | $ 395 | $ 909 | $ 1,185 |
Note 13 - Leases - Reconciliati
Note 13 - Leases - Reconciliation of Undiscounted Cash Payment Obligations of Operating Lease Liability (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Remaining in 2023 | $ 219 |
2024 | 1,186 |
2025 | 1,317 |
2026 | 1,356 |
2027 | 1,397 |
Thereafter | 3,751 |
Total lease payments | 9,226 |
Imputed interest | (2,588) |
Total minimum lease payments | $ 6,638 |
Note 14 - Other Income - Other
Note 14 - Other Income - Other Income, Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest income | $ 423 | $ 249 | $ 1,283 | $ 340 |
Refundable tax credit | 120 | 376 | 526 | 878 |
Foreign currency gains (losses) | (65) | (6) | 58 | (19) |
Other income | 0 | 4 | 3 | 15 |
Total other income, net | $ 478 | $ 623 | $ 1,870 | $ 1,214 |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) Pure in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | 0% | 0% | |||
Deferred Tax Assets, Valuation Allowance | $ 92,888 | $ 92,888 | $ 83,000 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 9,888 | ||||
Effective Income Tax Rate Reconciliation, Excess Tax Deficiencies, Amount | 436 | $ 2,355 | 803 | $ 3,170 | |
Valuation Allowance to Offset Excess Tax Deficiencies [Member] | |||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 436 | $ 2,355 | $ 803 | $ 3,170 |