Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 08, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000086115 | |
Entity Registrant Name | SAFEGUARD SCIENTIFICS INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 1-5620 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-1609753 | |
Entity Address, Address Line One | 150 N. Radnor Chester Road | |
Entity Address, City or Town | Radnor | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 19087 | |
City Area Code | 610 | |
Local Phone Number | 293-0600 | |
Title of 12(b) Security | common stock, par value $0.10 | |
Trading Symbol | SFE | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,387,126 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash and cash equivalents | $ 17,510 | $ 24,739 |
Restricted cash | 25 | 25 |
Ownership interests | 2,407 | 4,549 |
Prepaid expenses and other current assets | 1,126 | 965 |
Total current assets | 21,068 | 30,278 |
Right-of-use asset, net | 1,431 | 1,561 |
Ownership interests and advances | 23,192 | 21,972 |
Other assets | 267 | 217 |
Total Assets | 45,958 | 54,028 |
Current Liabilities: | ||
Accounts payable | 56 | 41 |
Accrued compensation and benefits | 167 | 794 |
Accrued expenses and other current liabilities | 518 | 524 |
Lease liability - current | 401 | 375 |
Total current liabilities | 1,142 | 1,734 |
Lease liability - non-current | 1,471 | 1,678 |
Other long-term liabilities | 50 | 50 |
Total Liabilities | 2,663 | 3,462 |
Commitments and contingencies (Note 9) | ||
Equity: | ||
Preferred stock, $0.10 par value; 1,000 shares authorized | 0 | 0 |
Common stock, $0.10 par value; 83,333 shares authorized; 21,573 shares issued and outstanding at June 30, 2022 and December 31, 2021 | 2,157 | 2,157 |
Additional paid-in capital | 805,441 | 806,638 |
Treasury stock, at cost; 5,261 and 5,068 shares at June 30, 2022 and December 31, 2021, respectively | (48,417) | (48,569) |
Accumulated deficit | (715,861) | (709,635) |
Accumulated other comprehensive loss | (25) | (25) |
Total Equity | 43,295 | 50,566 |
Total Liabilities and Equity | $ 45,958 | $ 54,028 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Preferred stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, shares authorized (in shares) | 83,333 | 83,333 |
Common stock, shares issued (in shares) | 21,573 | 21,573 |
Common stock, shares outstanding (in shares) | 21,573 | 21,573 |
Treasury stock, shares (in shares) | 5,261 | 5,068 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
General and administrative expense | $ 1,146 | $ 1,991 | $ 2,380 | $ 4,454 |
Operating loss | (1,146) | (1,991) | (2,380) | (4,454) |
Other income (loss), net | 30 | 6,733 | (1,967) | 7,439 |
Interest income | 145 | 74 | 246 | 127 |
Equity income (loss), net | 1,454 | (5,136) | (2,125) | 14,193 |
Net income (loss) before income taxes | 483 | (320) | (6,226) | 17,305 |
Income tax benefit (expense) | 0 | 0 | 0 | 0 |
Net income (loss) | $ 483 | $ (320) | $ (6,226) | $ 17,305 |
Net income (loss) per share: | ||||
Basic (in dollars per share) | $ 0.03 | $ (0.02) | $ (0.38) | $ 0.83 |
Diluted (in dollars per share) | $ 0.03 | $ (0.02) | $ (0.38) | $ 0.83 |
Weighted average shares used in computing income (loss) per share: | ||||
Basic (in shares) | 16,356 | 20,856 | 16,468 | 20,879 |
Diluted (in shares) | 16,356 | 20,856 | 16,468 | 20,879 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash Flows from Operating Activities: | ||
Net cash used in operating activities | $ (2,099) | $ (4,734) |
Cash Flows from Investing Activities: | ||
Proceeds from sales of ownership interests | 485 | 13,151 |
Advances and loans to ownership interests | (3,400) | (1,000) |
Net cash (used in) provided by investing activities | (2,915) | 12,151 |
Cash Flows from Financing Activities: | ||
Repurchases of Company common stock | (1,723) | (1,588) |
Tax withholdings related to equity-based awards | (492) | (100) |
Net cash used in financing activities | (2,215) | (1,688) |
Net change in cash, cash equivalents and restricted cash | (7,229) | 5,729 |
Cash, cash equivalents and restricted cash at beginning of period | 24,764 | 15,601 |
Cash, cash equivalents and restricted cash at end of period | $ 17,535 | $ 21,330 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2020 | $ (736,639) | $ (25) | $ 2,157 | $ 807,582 | $ (10,200) | $ 62,875 |
Balance (in shares) at Dec. 31, 2020 | 21,573 | 688 | ||||
Net income (loss) | 17,625 | 0 | $ 0 | 0 | $ 0 | 17,625 |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | $ 0 | (593) | $ 963 | 370 |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares) | 0 | (58) | ||||
Stock-based compensation expense | 0 | 0 | $ 0 | 122 | $ 0 | 122 |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | 0 | 593 | (963) | (370) |
Balance at Mar. 31, 2021 | (719,014) | (25) | $ 2,157 | 807,111 | $ (9,237) | 80,992 |
Balance (in shares) at Mar. 31, 2021 | 21,573 | 630 | ||||
Balance at Dec. 31, 2020 | (736,639) | (25) | $ 2,157 | 807,582 | $ (10,200) | 62,875 |
Balance (in shares) at Dec. 31, 2020 | 21,573 | 688 | ||||
Net income (loss) | 17,305 | |||||
Balance at Jun. 30, 2021 | (719,334) | (25) | $ 2,157 | 806,447 | $ (9,849) | 79,396 |
Balance (in shares) at Jun. 30, 2021 | 21,573 | 786 | ||||
Balance at Mar. 31, 2021 | (719,014) | (25) | $ 2,157 | 807,111 | $ (9,237) | 80,992 |
Balance (in shares) at Mar. 31, 2021 | 21,573 | 630 | ||||
Net income (loss) | (320) | 0 | $ 0 | 0 | $ 0 | (320) |
Repurchases of common stock | 0 | 0 | $ 0 | 0 | $ (1,588) | (1,588) |
Repurchases of common stock (in shares) | 0 | 229 | ||||
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | $ 0 | 839 | $ (976) | (137) |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares) | 0 | (73) | ||||
Stock-based compensation expense | 0 | 0 | $ 0 | 175 | $ 0 | 175 |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | 0 | (839) | 976 | 137 |
Balance at Jun. 30, 2021 | (719,334) | (25) | $ 2,157 | 806,447 | $ (9,849) | 79,396 |
Balance (in shares) at Jun. 30, 2021 | 21,573 | 786 | ||||
Balance at Dec. 31, 2021 | (709,635) | (25) | $ 2,157 | 806,638 | $ (48,569) | 50,566 |
Balance (in shares) at Dec. 31, 2021 | 21,573 | 5,068 | ||||
Net income (loss) | (6,709) | 0 | $ 0 | 0 | $ 0 | (6,709) |
Repurchases of common stock | 0 | 0 | $ 0 | 0 | $ (779) | (779) |
Repurchases of common stock (in shares) | 0 | 148 | ||||
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | $ 0 | (1,019) | $ 1,322 | 303 |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares) | 0 | (122) | ||||
Stock-based compensation expense | 0 | 0 | $ 0 | 168 | $ 0 | 168 |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | 0 | 1,019 | (1,322) | (303) |
Balance at Mar. 31, 2022 | (716,344) | (25) | $ 2,157 | 805,787 | $ (48,026) | 43,549 |
Balance (in shares) at Mar. 31, 2022 | 21,573 | 5,094 | ||||
Balance at Dec. 31, 2021 | (709,635) | (25) | $ 2,157 | 806,638 | $ (48,569) | 50,566 |
Balance (in shares) at Dec. 31, 2021 | 21,573 | 5,068 | ||||
Net income (loss) | (6,226) | |||||
Balance at Jun. 30, 2022 | (715,861) | (25) | $ 2,157 | 805,441 | $ (48,417) | 43,295 |
Balance (in shares) at Jun. 30, 2022 | 21,573 | 5,261 | ||||
Balance at Mar. 31, 2022 | (716,344) | (25) | $ 2,157 | 805,787 | $ (48,026) | 43,549 |
Balance (in shares) at Mar. 31, 2022 | 21,573 | 5,094 | ||||
Net income (loss) | 483 | 0 | $ 0 | 0 | $ 0 | 483 |
Repurchases of common stock | 0 | 0 | $ 0 | 0 | $ (945) | (945) |
Repurchases of common stock (in shares) | 0 | 221 | ||||
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | $ 0 | 489 | $ (554) | (65) |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares) | 0 | (54) | ||||
Stock-based compensation expense | 0 | 0 | $ 0 | 143 | $ 0 | 143 |
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 0 | 0 | 0 | (489) | 554 | 65 |
Balance at Jun. 30, 2022 | $ (715,861) | $ (25) | $ 2,157 | $ 805,441 | $ (48,417) | $ 43,295 |
Balance (in shares) at Jun. 30, 2022 | 21,573 | 5,261 |
Note 1 - General
Note 1 - General | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. The accompanying unaudited interim Consolidated Financial Statements of Safeguard Scientifics, Inc. (“Safeguard” or the “Company”) were prepared in accordance with accounting principles generally accepted in the United States of America and the interim financial statement rules and regulations of the SEC. In the opinion of management, these statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Consolidated Financial Statements. The interim operating results are not 10 10 2021 10 Liquidity As of June 30, 2022 In January 2018, may The Company believes that its cash and cash equivalents at June 30, 2022 one Principles of Accounting for Ownership Interests The Company accounts for its ownership interests using one In addition to holding voting and non-voting equity securities, the Company also periodically makes advances to its companies in the form of promissory notes which are included in the Ownership interests and advances on the Consolidated Balance Sheets. Equity Method. not not 20% 50% not third one When the Company’s carrying value in an equity method company is reduced to zero, the Company records no not not Other Method. not not not The Company accounts for ownership interests that are not June 30, 2022 Comprehensive Income (loss) During the quarter and six June 30, 2022 2021, no Impairment of Ownership Interests and Advances On a periodic basis, but no not Management then determines whether there has been an other than temporary decline in the value of its ownership interest in the company. Impairment is measured as the amount by which the carrying value of an asset exceeds its estimated fair value. The estimated fair value of privately held companies is generally determined based on the value at which independent third Impairment charges related to equity method companies are included in Equity income (loss), net in the Consolidated Statements of Operations. Impairment charges related to non-equity method companies are included in Other income (loss), net in the Consolidated Statements of Operations. The reduced cost basis of a previously impaired company accounted for using the Equity method is not |
Note 2 - Ownership Interests an
Note 2 - Ownership Interests and Advances | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] | 2. The following summarizes the carrying value of the Company’s ownership interests and advances. June 30, 2022 December 31, 2021 (Unaudited - In thousands) Equity Method: Companies $ 18,738 $ 21,091 Private equity funds 117 117 18,855 21,208 Other Method: Companies, fair value 2,407 4,549 Companies, fair value measurement alternative 687 514 Private equity funds, fair value measurement alternative 250 250 3,344 5,313 Advances to companies 3,400 — $ 25,599 $ 26,521 There were no three six June 30, 2022, three six June 30, 2021, As of June 30, 2022 9 June 30, 2022 Company Name Safeguard Primary Ownership as of June 30, 2022 Accounting Method Aktana, Inc. 13.4% Equity Clutch Holdings, Inc. 41.7% Equity InfoBionic, Inc. 25.2% Equity Lumesis, Inc. 43.2% Equity meQuilibrium 31.5% Equity Moxe Health Corporation 19.4% Equity Prognos Health Inc. 28.5% Equity Syapse, Inc. 11.0% Equity Trice Medical, Inc. 12.6% Equity Summarized Financial Information The following table summarizes the statement of operations data for the companies accounted for under the equity method for the three six June 30, 2022 2021 one not Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited - In thousands) Results of Operations: Revenue $ 36,479 $ 30,482 $ 75,290 $ 70,650 Gross profit $ 22,653 $ 17,873 $ 47,573 $ 46,101 Net loss $ (34,325 ) $ (28,681 ) $ (65,187 ) $ (51,702 ) |
Note 3 - Acquisitions of Owners
Note 3 - Acquisitions of Ownership Interests | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Equity Method and Other Investments Disclosure [Text Block] | 3. The following is a summary of additional deployments during the six June 30, 2022 The Company funded $2.0 million of convertible loans to Prognos Health Inc. The Company had previously deployed an aggregate of $12.6 million. Prognos is a healthcare platform company transforming the ability to access, manage and analyze healthcare data in partnership with Life Sciences brands, payers, and clinical diagnostics organizations. Prognos' innovations enhance the value of laboratory results and clinical diagnostic data through advanced analytics and artificial intelligence techniques. The Company funded $1.4 million of convertible loans to Clutch Holdings, Inc. The Company had previously deployed an aggregate of $16.9 million. Clutch provides customer intelligence and personalized engagements that empower consumer-focused businesses to identify, understand and motivate each segment of their customer base. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4. The Company categorizes its financial instruments into a three 1 3 Cash, cash equivalents and restricted cash approximate fair value due to their short term nature. The Company did not 2 3 June 30, 2022 December 31, 2021. Carrying Fair Value Measurement at June 30, 2022 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 17,510 $ 17,510 $ — $ — Restricted cash $ 25 $ 25 $ — $ — Ownership interests $ 2,407 $ 2,407 $ — $ — Carrying Fair Value Measurement at December 31, 2021 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 24,739 $ 24,739 $ — $ — Restricted cash $ 25 $ 25 $ — $ — Ownership interests $ 4,549 $ 4,549 $ — $ — Ownership interests accounted for at fair value as of June 30, 2022 |
Note 5 - Stock-Based Compensati
Note 5 - Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 5. Stock-based compensation expense was recognized in the Consolidated Statements of Operations as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited - In thousands) General and administrative expense $ 262 $ 740 $ 576 $ 985 $ 262 $ 740 $ 576 $ 985 Stock-based compensation consists of time based awards to employees, liability based awards to employees to be settled in stock, performance based awards to employees, other non-employee grants and liability based awards to Directors for quarterly and annual services. During the six June 30, 2022 2021 three June 30, 2022, |
Note 6 - Income Taxes
Note 6 - Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. The Company recorded no three six June 30, 2022 2021 not three six June 30, 2022 three six June 30, 2022 no |
Note 7 - Net Income (Loss) Per
Note 7 - Net Income (Loss) Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. The calculations of net income (loss) per share were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited - In thousands, except per share data) Basic: Net income (loss) $ 483 $ (320 ) $ (6,226 ) $ 17,305 Weighted average common shares outstanding 16,356 20,856 16,468 20,879 Net income (loss) per share $ 0.03 $ (0.02 ) $ (0.38 ) $ 0.83 Diluted: Net income (loss) for dilutive share computation $ 483 $ (320 ) $ (6,226 ) $ 17,305 Number of shares used in basic per share computation 16,356 20,856 16,468 20,879 Unvested restricted stock and DSU's — — — — Employee stock options — — — — Weighted average common shares outstanding 16,356 20,856 16,468 20,879 Net income (loss) per dilutive share $ 0.03 $ (0.02 ) $ (0.38 ) $ 0.83 Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs). If an equity method company has dilutive stock options, unvested restricted stock, DSUs or warrants, diluted net income (loss) per share is computed by first Diluted earnings per share do not • At June 30, 2022 2021 • At June 30, 2022 2021 |
Note 8 - Segment Reporting
Note 8 - Segment Reporting | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 8. The Company operates as one As of June 30, 2022 December 31, 2021 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. In March 2019, June 2019. April 2026, A summary of the Company's operating lease cash flows at June 30, 2022 Operating lease payments Expected sublease receipts (Unaudited - In thousands) 2022 (six months ending December 31) $ 302 $ 273 2023 607 557 2024 613 573 2025 619 590 2026 207 199 2027 — — Thereafter — — Total future minimum lease payments 2,348 $ 2,192 Less imputed interest (476 ) Total operating lease liabilities $ 1,872 The Company and the companies in which it holds ownership interests are involved in various claims and legal actions arising in the ordinary course of business. In the current opinion of the Company, it is not no one The Company has provided a guarantee, which is fully funded by escrowed funds held by a third June 30, 2022 one In 2018, February 2019 June 2020, January 2018. June 2020 first may 60 not six June 30, 2022 June 30, 2022 The Company has agreements with certain remaining employees that provide for severance payments to the employee in the event the employee is terminated without cause or an employee terminates his employment for “good reason.” The maximum aggregate exposure under employment and severance agreements for remaining employees was approximately $0.8 million at June 30, 2022 In June 2011, March 2012, July 2015 one 2014 one |
Note 10 - Equity
Note 10 - Equity | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 10. In July 2015, not 2021 six June 30, 2022 In March 2022, May 2021 10b5 1 10b 18 1934, six June 30, 2022 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Liquidity, Policy [Policy Text Block] | Liquidity As of June 30, 2022 In January 2018, may The Company believes that its cash and cash equivalents at June 30, 2022 one |
Investment, Policy [Policy Text Block] | Principles of Accounting for Ownership Interests The Company accounts for its ownership interests using one In addition to holding voting and non-voting equity securities, the Company also periodically makes advances to its companies in the form of promissory notes which are included in the Ownership interests and advances on the Consolidated Balance Sheets. Equity Method. not not 20% 50% not third one When the Company’s carrying value in an equity method company is reduced to zero, the Company records no not not Other Method. not not not The Company accounts for ownership interests that are not June 30, 2022 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (loss) During the quarter and six June 30, 2022 2021, no |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Ownership Interests and Advances On a periodic basis, but no not Management then determines whether there has been an other than temporary decline in the value of its ownership interest in the company. Impairment is measured as the amount by which the carrying value of an asset exceeds its estimated fair value. The estimated fair value of privately held companies is generally determined based on the value at which independent third Impairment charges related to equity method companies are included in Equity income (loss), net in the Consolidated Statements of Operations. Impairment charges related to non-equity method companies are included in Other income (loss), net in the Consolidated Statements of Operations. The reduced cost basis of a previously impaired company accounted for using the Equity method is not |
Note 2 - Ownership Interests _2
Note 2 - Ownership Interests and Advances (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | June 30, 2022 December 31, 2021 (Unaudited - In thousands) Equity Method: Companies $ 18,738 $ 21,091 Private equity funds 117 117 18,855 21,208 Other Method: Companies, fair value 2,407 4,549 Companies, fair value measurement alternative 687 514 Private equity funds, fair value measurement alternative 250 250 3,344 5,313 Advances to companies 3,400 — $ 25,599 $ 26,521 |
Schedule of Other Ownership Interests [Table Text Block] | Company Name Safeguard Primary Ownership as of June 30, 2022 Accounting Method Aktana, Inc. 13.4% Equity Clutch Holdings, Inc. 41.7% Equity InfoBionic, Inc. 25.2% Equity Lumesis, Inc. 43.2% Equity meQuilibrium 31.5% Equity Moxe Health Corporation 19.4% Equity Prognos Health Inc. 28.5% Equity Syapse, Inc. 11.0% Equity Trice Medical, Inc. 12.6% Equity |
Equity Method Investments [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited - In thousands) Results of Operations: Revenue $ 36,479 $ 30,482 $ 75,290 $ 70,650 Gross profit $ 22,653 $ 17,873 $ 47,573 $ 46,101 Net loss $ (34,325 ) $ (28,681 ) $ (65,187 ) $ (51,702 ) |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Carrying Fair Value Measurement at June 30, 2022 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 17,510 $ 17,510 $ — $ — Restricted cash $ 25 $ 25 $ — $ — Ownership interests $ 2,407 $ 2,407 $ — $ — Carrying Fair Value Measurement at December 31, 2021 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 24,739 $ 24,739 $ — $ — Restricted cash $ 25 $ 25 $ — $ — Ownership interests $ 4,549 $ 4,549 $ — $ — |
Note 5 - Stock-Based Compensa_2
Note 5 - Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Activity [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited - In thousands) General and administrative expense $ 262 $ 740 $ 576 $ 985 $ 262 $ 740 $ 576 $ 985 |
Note 7 - Net Income (Loss) Pe_2
Note 7 - Net Income (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited - In thousands, except per share data) Basic: Net income (loss) $ 483 $ (320 ) $ (6,226 ) $ 17,305 Weighted average common shares outstanding 16,356 20,856 16,468 20,879 Net income (loss) per share $ 0.03 $ (0.02 ) $ (0.38 ) $ 0.83 Diluted: Net income (loss) for dilutive share computation $ 483 $ (320 ) $ (6,226 ) $ 17,305 Number of shares used in basic per share computation 16,356 20,856 16,468 20,879 Unvested restricted stock and DSU's — — — — Employee stock options — — — — Weighted average common shares outstanding 16,356 20,856 16,468 20,879 Net income (loss) per dilutive share $ 0.03 $ (0.02 ) $ (0.38 ) $ 0.83 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating lease payments Expected sublease receipts (Unaudited - In thousands) 2022 (six months ending December 31) $ 302 $ 273 2023 607 557 2024 613 573 2025 619 590 2026 207 199 2027 — — Thereafter — — Total future minimum lease payments 2,348 $ 2,192 Less imputed interest (476 ) Total operating lease liabilities $ 1,872 |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) - USD ($) $ in Thousands, shares in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Cash and Cash Equivalents, at Carrying Value, Total | $ 17,510 | $ 24,739 |
Debt Securities, Trading, and Equity Securities, FV-NI, Total | $ 2,407 | $ 4,549 |
Bright Health [Member] | ||
Investment Owned, Balance, Shares (in shares) | 1.3 | |
Debt Securities, Trading, and Equity Securities, FV-NI, Total | $ 2,400 |
Note 2 - Ownership Interests _3
Note 2 - Ownership Interests and Advances (Details Textual) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Impairment of Other Method Securities | $ 2.5 |
Note 2 - Ownership Interests _4
Note 2 - Ownership Interests and Advances - Schedule of Carrying Value of Ownership Interests (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Equity Method Companies | $ 18,855 | $ 21,208 |
Ownership interests | 2,407 | 4,549 |
Other Method, fair value measurement alternative | 3,344 | 5,313 |
Advances to companies | 3,400 | 0 |
Investments and Advances to Affiliates, Current and Noncurrent | 25,599 | 26,521 |
Partnership Interest [Member] | ||
Equity Method Companies | 18,738 | 21,091 |
Ownership interests | 2,407 | 4,549 |
Other Method, fair value measurement alternative | 687 | 514 |
Private Equity Funds [Member] | ||
Equity Method Companies | 117 | 117 |
Other Method, fair value measurement alternative | $ 250 | $ 250 |
Note 2 - Ownership Interests _5
Note 2 - Ownership Interests and Advances - Schedule of Ownership Interests (Details) | Jun. 30, 2022 |
Aktana, Inc. [Member] | |
Ownership Interest | 13.40% |
Clutch Holdings [Member] | |
Ownership Interest | 41.70% |
InfoBionic, Inc. [Member] | |
Ownership Interest | 25.20% |
Lumesis, Inc. [Member] | |
Ownership Interest | 43.20% |
meQuilibrium [Member] | |
Ownership Interest | 31.50% |
Moxe Health Corporation [Member] | |
Ownership Interest | 19.40% |
Prognos Health, Inc. [Member] | |
Ownership Interest | 28.50% |
Syapse, Inc. [Member] | |
Ownership Interest | 11% |
Trice Medical, Inc. [Member] | |
Ownership Interest | 12.60% |
Note 2 - Ownership Interests _6
Note 2 - Ownership Interests and Advances - Schedule of Results of Operations (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenue | $ 36,479 | $ 30,482 | $ 75,290 | $ 70,650 |
Gross profit | 22,653 | 17,873 | 47,573 | 46,101 |
Net loss | $ (34,325) | $ (28,681) | $ (65,187) | $ (51,702) |
Note 3 - Acquisitions of Owne_2
Note 3 - Acquisitions of Ownership Interests (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Equity Method Investments | $ 18,855 | $ 21,208 |
Prognos Health, Inc. [Member] | ||
Convertible Bridge Loan | 2,000 | |
Equity Method Investments | 12,600 | |
Clutch Holdings [Member] | ||
Convertible Bridge Loan | 1,400 | |
Equity Method Investments | $ 16,900 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements (Details Textual) shares in Millions | Jun. 30, 2022 shares |
Bright Health [Member] | |
Investment Owned, Balance, Shares (in shares) | 1.3 |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Fair Value of Assets and Liabilities Measured On Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | $ 17,510 | $ 24,739 |
Restricted cash | 25 | 25 |
Ownership interests | 2,407 | 4,549 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 17,510 | 24,739 |
Restricted cash | 25 | 25 |
Ownership interests | 2,407 | 4,549 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Ownership interests | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Ownership interests | $ 0 | $ 0 |
Note 5 - Stock-Based Compensa_3
Note 5 - Stock-Based Compensation (Details Textual) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share-Based Payment Arrangement, Nonemployee [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 15 | ||
Share-Based Payment Arrangement, Employee [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 162 | ||
Restricted Stock [Member] | Share-Based Payment Arrangement, Nonemployee [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 25 | 64 |
Note 5 - Stock-based Compensa_4
Note 5 - Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
General and administrative expense | $ 262 | $ 740 | $ 576 | $ 985 |
General and Administrative Expense [Member] | ||||
General and administrative expense | $ 262 | $ 740 | $ 576 | $ 985 |
Note 7 - Net Income (Loss) Pe_3
Note 7 - Net Income (Loss) Per Share (Details Textual) - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 18 | 43 |
Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ 10.37 | $ 10.37 |
Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | ||
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | $ 17.11 | $ 17.11 |
Restricted Stock, Performance-based Stock Units, and Deferred Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 100 | 300 |
Note 7 - Net Income (Loss) Pe_4
Note 7 - Net Income (Loss) Per Share - Calculations of Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Basic: | ||||||
Net income (loss) | $ 483 | $ (6,709) | $ (320) | $ 17,625 | $ (6,226) | $ 17,305 |
Basic (in shares) | 16,356 | 20,856 | 16,468 | 20,879 | ||
Basic (in dollars per share) | $ 0.03 | $ (0.02) | $ (0.38) | $ 0.83 | ||
Diluted: | ||||||
Net income (loss) | $ 483 | $ (6,709) | $ (320) | $ 17,625 | $ (6,226) | $ 17,305 |
Basic (in shares) | 16,356 | 20,856 | 16,468 | 20,879 | ||
Unvested restricted stock and DSU's (in shares) | 0 | 0 | 0 | 0 | ||
Employee stock options (in shares) | 0 | 0 | 0 | 0 | ||
Diluted (in shares) | 16,356 | 20,856 | 16,468 | 20,879 | ||
Diluted (in dollars per share) | $ 0.03 | $ (0.02) | $ (0.38) | $ 0.83 |
Note 8 - Segment Reporting (Det
Note 8 - Segment Reporting (Details Textual) | 6 Months Ended |
Jun. 30, 2022 | |
Number of Operating Segments | 1 |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingencies (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Long-term Incentive Plan, Payments | $ 0 |
Deferred Compensation Liability, Current and Noncurrent, Total | 0 |
Employee and Severance Agreement, Maximum Aggregate Exposure | $ 800 |
Minimum [Member] | |
Long-term Incentive Plan, Bonus Pool Percent | 1% |
Maximum [Member] | |
Long-term Incentive Plan, Bonus Pool Percent | 1.30% |
Private Equity Funds [Member] | |
Guarantor Obligations, Current Carrying Value | $ 3,800 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Operating Lease Cash Flow (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
2022 (six months ending December 31) | $ 302 |
2022 (six months ending December 31) | 273 |
2023, Operating lease payments | 607 |
2023, Expected sublease receipts | 557 |
2024, Operating lease payments | 613 |
2024, Expected sublease receipts | 573 |
2025, Operating lease payments | 619 |
2025, Expected sublease receipts | 590 |
2026, Operating lease payments | 207 |
2026, Expected sublease receipts | 199 |
2027, Operating lease payments | 0 |
2027, Expected sublease receipts | 0 |
Thereafter, Operating lease payments | 0 |
Thereafter, Expected sublease receipt | 0 |
Total future minimum lease payments, Operating lease payments | 2,348 |
Total future minimum lease payments, Expected sublease receipt | 2,192 |
Less imputed interest, Operating lease payments | (476) |
Total operating lease liabilities, Operating lease payments | $ 1,872 |
Note 10 - Equity (Details Textu
Note 10 - Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jul. 31, 2015 | |
Treasury Stock, Value, Acquired, Cost Method | $ 945 | $ 779 | $ 1,588 | |||
Share Repurchase Program Authorized in July 2015 [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 25,000 | |||||
Treasury Stock, Shares, Acquired (in shares) | 0 | 0 | ||||
Share Repurchase Program Authorized in May 2021 [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 3,000 | |||||
Treasury Stock, Shares, Acquired (in shares) | 369,274 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 1,700 | |||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 4.67 |