Climb Global Solutions (CLMB) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity Registrant Name	Wayside Technology Group, Inc.
Entity File Number	000-26408
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3136104
Entity Address, Address Line One	4 Industrial Way West, Suite 300
Entity Address, City or Town	Eatontown
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07724
City Area Code	732
Local Phone Number	389-8950
Title of 12(b) Security	Common stock, $.01 par value
Trading Symbol	WSTG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Central Index Key	0000945983
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,385,785
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 29,934	$ 29,348
Accounts receivable, net of allowances of $940 and $892, respectively	98,413	93,821
Inventory, net	3,685	4,936
Vendor prepayments and advances	3,950	1,235
Prepaid expenses and other current assets	4,181	3,837
Total current assets	140,163	133,177
Equipment and leasehold improvements, net	1,999	2,308
Goodwill	17,133	16,816
Other intangibles, net	10,136	10,625
Right-of-use assets, net	1,610	1,933
Accounts receivable-long-term, net	97	304
Other assets	494	257
Deferred income tax assets	104	113
Total assets	171,736	165,533
Current liabilities:
Accounts payable and accrued expenses	118,272	116,692
Lease liability, current portion	441	490
Total current liabilities	118,713	117,182
Lease liability, net of current portion	1,818	2,167
Deferred income tax liabilities	1,738	1,467
Total liabilities	122,269	120,816
Commitments and contingencies
Stockholders' equity:
Common stock, $.01 par value; 10,000,000 shares authorized; 5,284,500 shares issued: 4,385,785 and 4,361,997 shares outstanding, respectively	53	53
Additional paid-in capital	31,761	31,962
Treasury stock, at cost, 852,863 and 922,503 shares, respectively	(13,687)	(14,747)
Retained earnings	31,696	28,191
Accumulated other comprehensive loss	(356)	(742)
Total stockholders' equity	49,467	44,717
Total liabilities and stockholders' equity	$ 171,736	$ 165,533

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets
Accounts receivable, allowances (in dollars)	$ 940	$ 892
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	10,000,000	10,000,000
Common Stock, shares issued	5,284,500	5,284,500
Common Stock, shares outstanding	4,385,785	4,361,997
Treasury stock, shares	852,863	922,503

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Condensed Consolidated Statements of Earnings
Net sales	$ 68,911,000	$ 60,919,000	$ 207,074,000	$ 180,124,000
Cost of sales	57,592,000	53,682,000	173,934,000	157,609,000
Gross profit	11,319,000	7,237,000	33,140,000	22,515,000
Selling, general, and administrative expenses	7,761,000	5,993,000	24,312,000	16,866,000
Legal and financial advisory expenses, net - unsolicited bid and related matters	0	(81,000)	0	1,752,000
Acquisition related costs	0	344,000	0	982,000
Amortization and depreciation expense	381,000	164,000	1,177,000	403,000
Income from operations	3,177,000	817,000	7,651,000	2,512,000
Other income:
Interest, net	60,000	19,000	362,000	105,000
Foreign currency transaction (loss) gain	(41,000)	(67,000)	(107,000)	211,000
Income before provision for income taxes	3,196,000	769,000	7,906,000	2,828,000
Provision for income taxes	756,000	239,000	2,155,000	881,000
Net income	$ 2,440,000	$ 530,000	$ 5,751,000	$ 1,947,000
Income per common share-Basic	$ 0.55	$ 0.13	$ 1.31	$ 0.44
Income per common share-Diluted	$ 0.55	$ 0.13	$ 1.31	$ 0.44
Weighted average common shares outstanding - Basic (in shares)	4,282	4,218	4,263	4,306
Weighted average common shares outstanding - Diluted (in shares)	4,282	4,218	4,263	4,306
Dividends paid per common share (in dollars per share)	$ 0.17	$ 0.17	$ 0.51	$ 0.51

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 2,440	$ 530	$ 5,751	$ 1,947
Other comprehensive income:
Foreign currency translation adjustments	(889)	127	386	(152)
Other comprehensive income (loss)	(889)	127	386	(152)
Comprehensive income	$ 1,551	$ 657	$ 6,137	$ 1,795

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Treasury	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2019	$ 53	$ 32,874	$ (13,256)	$ 26,715	$ (1,130)	$ 45,256
Balance (in shares) at Dec. 31, 2019	5,284,500
Balance (in shares) at Dec. 31, 2019			778,807
Increase (Decrease) in Stockholders' Equity
Net income				836		836
Translation adjustment					(501)	(501)
Dividends paid				(775)		(775)
Share-based compensation expense		167				167
Restricted stock grants (net of forfeitures)		(1,080)	$ 1,079			(1)
Restricted stock grants (net of forfeitures) (in shares)			(63,810)
Treasury shares repurchased			$ (32)			(32)
Treasury shares repurchased (in shares)			2,059
Balance at Mar. 31, 2020	$ 53	31,961	$ (12,209)	26,776	(1,631)	44,950
Balance (in shares) at Mar. 31, 2020	5,284,500
Balance (in shares) at Mar. 31, 2020			717,056
Balance at Dec. 31, 2019	$ 53	32,874	$ (13,256)	26,715	(1,130)	45,256
Balance (in shares) at Dec. 31, 2019	5,284,500
Balance (in shares) at Dec. 31, 2019			778,807
Increase (Decrease) in Stockholders' Equity
Net income						1,947
Translation adjustment						(152)
Balance at Sep. 30, 2020	$ 53	31,720	$ (14,668)	26,405	(1,282)	42,228
Balance (in shares) at Sep. 30, 2020	5,284,500
Balance (in shares) at Sep. 30, 2020			918,887
Balance at Mar. 31, 2020	$ 53	31,961	$ (12,209)	26,776	(1,631)	44,950
Balance (in shares) at Mar. 31, 2020	5,284,500
Balance (in shares) at Mar. 31, 2020			717,056
Increase (Decrease) in Stockholders' Equity
Net income				581		581
Translation adjustment					222	222
Dividends paid				(740)		(740)
Share-based compensation expense		234				234
Restricted stock grants (net of forfeitures)		(813)	$ 813
Restricted stock grants (net of forfeitures) (in shares)			(48,068)
Treasury shares repurchased			$ (3,489)			(3,489)
Treasury shares repurchased (in shares)			264,039
Balance at Jun. 30, 2020	$ 53	31,382	$ (14,885)	26,617	(1,409)	41,758
Balance (in shares) at Jun. 30, 2020	5,284,500
Balance (in shares) at Jun. 30, 2020			933,027
Increase (Decrease) in Stockholders' Equity
Net income				530		530
Translation adjustment					127	127
Dividends paid				(742)		(742)
Share-based compensation expense		636				636
Restricted stock grants (net of forfeitures)		(298)	$ 298
Restricted stock grants (net of forfeitures) (in shares)			(17,605)
Treasury shares repurchased			$ (81)			(81)
Treasury shares repurchased (in shares)			3,465
Balance at Sep. 30, 2020	$ 53	31,720	$ (14,668)	26,405	(1,282)	42,228
Balance (in shares) at Sep. 30, 2020	5,284,500
Balance (in shares) at Sep. 30, 2020			918,887
Balance at Dec. 31, 2020	$ 53	31,962	$ (14,747)	28,191	(742)	$ 44,717
Balance (in shares) at Dec. 31, 2020	5,284,500					5,284,500
Balance (in shares) at Dec. 31, 2020			922,503			922,503
Increase (Decrease) in Stockholders' Equity
Net income				1,520		$ 1,520
Translation adjustment					1,039	1,039
Dividends paid				(750)		(750)
Share-based compensation expense		279				279
Restricted stock grants (net of forfeitures)		(883)	$ 883
Restricted stock grants (net of forfeitures) (in shares)			(52,190)
Treasury shares repurchased			$ (57)			(57)
Treasury shares repurchased (in shares)			2,990
Balance at Mar. 31, 2021	$ 53	31,358	$ (13,921)	28,961	297	46,748
Balance (in shares) at Mar. 31, 2021	5,284,500
Balance (in shares) at Mar. 31, 2021			873,303
Balance at Dec. 31, 2020	$ 53	31,962	$ (14,747)	28,191	(742)	$ 44,717
Balance (in shares) at Dec. 31, 2020	5,284,500					5,284,500
Balance (in shares) at Dec. 31, 2020			922,503			922,503
Increase (Decrease) in Stockholders' Equity
Net income						$ 3,311
Balance at Jun. 30, 2021	$ 53	32,037	$ (14,393)	30,003	533	48,233
Balance (in shares) at Jun. 30, 2021	5,284,500
Balance (in shares) at Jun. 30, 2021			898,715
Balance at Dec. 31, 2020	$ 53	31,962	$ (14,747)	28,191	(742)	$ 44,717
Balance (in shares) at Dec. 31, 2020	5,284,500					5,284,500
Balance (in shares) at Dec. 31, 2020			922,503			922,503
Increase (Decrease) in Stockholders' Equity
Net income						$ 5,751
Translation adjustment						386
Balance at Sep. 30, 2021	$ 53	31,761	$ (13,687)	31,696	(356)	$ 49,467
Balance (in shares) at Sep. 30, 2021	5,284,500					5,284,500
Balance (in shares) at Sep. 30, 2021			852,863			852,863
Balance at Mar. 31, 2021	$ 53	31,358	$ (13,921)	28,961	297	$ 46,748
Balance (in shares) at Mar. 31, 2021	5,284,500
Balance (in shares) at Mar. 31, 2021			873,303
Increase (Decrease) in Stockholders' Equity
Net income				1,791		1,791
Translation adjustment					236	236
Dividends paid				(749)		(749)
Share-based compensation expense		337				337
Restricted stock grants (net of forfeitures)		342	$ (342)
Restricted stock grants (net of forfeitures) (in shares)			20,184
Treasury shares repurchased			$ (130)			(130)
Treasury shares repurchased (in shares)			5,228
Balance at Jun. 30, 2021	$ 53	32,037	$ (14,393)	30,003	533	48,233
Balance (in shares) at Jun. 30, 2021	5,284,500
Balance (in shares) at Jun. 30, 2021			898,715
Increase (Decrease) in Stockholders' Equity
Net income				2,440		2,440
Translation adjustment					(889)	(889)
Dividends paid				(747)		(747)
Share-based compensation expense		637				637
Restricted stock grants (net of forfeitures)		(913)	$ 913
Restricted stock grants (net of forfeitures) (in shares)			(53,932)
Treasury shares repurchased			$ (207)			(207)
Treasury shares repurchased (in shares)			8,080
Balance at Sep. 30, 2021	$ 53	$ 31,761	$ (13,687)	$ 31,696	$ (356)	$ 49,467
Balance (in shares) at Sep. 30, 2021	5,284,500					5,284,500
Balance (in shares) at Sep. 30, 2021			852,863			852,863

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 5,751	$ 1,947
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Depreciation and amortization expense	1,177	403
Provision for doubtful accounts	33	130
Deferred income tax expense	272	(53)
Share-based compensation expense	1,253	1,037
Amortization of discount on accounts receivable	(50)	(136)
Amortization of right-of-use assets	359	280
Change in fair value of contingent earn-out consideration		24
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(4,493)	36,608
Inventory	1,251	(235)
Prepaid expenses and other current assets	(327)	(225)
Vendor prepayments	280	(2,896)
Accounts payable and accrued expenses	2,647	(3,991)
Lease liability, net	(434)	(348)
Other assets and liabilities	(251)	(14)
Net cash and cash equivalents provided by operating activities	7,468	32,531
Cash flows from investing activities
Purchase of equipment and leasehold improvements	(190)	(20)
Vendor advances	(2,994)
Payment for acquisitions, net of cash acquired		(1,141)
Net cash and cash equivalents used in investing activities	(3,184)	(1,161)
Cash flows from financing activities
Purchase of treasury stock	(394)	(3,602)
Borrowings under revolving credit facility		6,800
Repayments of borrowings under revolving credit facility		(6,800)
Dividends paid	(2,246)	(2,257)
Contingent consideration	(863)
Payments of deferred financing costs		(61)
Net cash and cash equivalents used in financing activities	(3,503)	(5,920)
Effect of foreign exchange rate on cash and cash equivalents	(195)	(138)
Net increase in cash and cash equivalents	586	25,312
Cash and cash equivalents at beginning of period	29,348	14,984
Cash and cash equivalents at end of period	29,934	40,296
Supplementary disclosure of cash flow information:
Income taxes paid	1,917	2,167
Interest paid	$ 31	$ 23

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Basis of Presentation
Basis of Presentation	​ 1. Basis of Presentation: ​ The accompanying unaudited condensed consolidated financial statements of Wayside Technology Group, Inc. and its subsidiaries (collectively, the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, as permitted by the rules and regulation of the Securities and Exchange Commission, the financial statements do not include all of the information and footnotes required by U.S. GAAP for complete audited financial statements. ​ The preparation of these condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including those related to product returns, bad debts, inventories, intangible assets, income taxes, stock-based compensation, evaluation of performance obligations and allocation of revenue to distinct items, contingencies and litigation. The Company bases its estimates on its historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. In the opinion of the Company’s management, all adjustments that are of a normal recurring nature, considered necessary for fair presentation of the results for the periods presented, have been included in the accompanying condensed consolidated financial statements. The Company’s actual results may differ from these estimates under different assumptions or conditions. The unaudited condensed consolidated statements of earnings for the interim periods are not necessarily indicative of results for the full year. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K filed with the Securities Exchange Commission for the year ended December 31, 2020. ​ The consolidated financial statements include the accounts of Wayside Technology Group, Inc. and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated. ​ Immaterial Revision of an Error for Estimated Foreign Tax Liability ​ During the third quarter, management identified that the UK had finalized The Finance Act 2021 that went into effect June 10, 2021 and therefore should have been accounted for during the second quarter of 2021. While the Company did not account for the UK tax law change regarding tax rate changes, management believes that the impact is not material to the financial statements as of and for the three and six months ended June 30, 2021 and the financial statements as of and for the nine months ended September 30, 2021 as presented herein are correct as it relates to this matter. The effect of this error on the financial statements as of June 30, 2021 and for three and six-month period ended June 30, 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2021 ​ ​ As Previously ​ ​ ​ As ​ ​ Reported ​ Revision ​ Corrected Condensed Consolidated Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities ​ $ 1,462 ​ $ 353 ​ $ 1,815 Total liabilities ​ $ 121,305 ​ $ 353 ​ $ 121,658 Retained earnings ​ $ 30,356 ​ $ (353) ​ $ 30,003 Total liabilities and stockholders' equity ​ $ 169,891 ​ $ — ​ $ 169,891 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 ​ ​ As Previously ​ ​ ​ As ​ ​ Reported ​ Revision ​ Corrected Condensed Consolidated Statement of Earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for income taxes ​ $ 615 ​ $ 353 ​ $ 968 Net income ​ $ 2,144 ​ $ (353) ​ $ 1,791 Basic earnings per share ​ $ 0.49 ​ $ (0.08) ​ $ 0.41 Diluted earnings per share ​ $ 0.49 ​ $ (0.08) ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 ​ ​ As Previously ​ ​ ​ As ​ ​ Reported ​ Revision ​ Corrected Condensed Consolidated Statement of Earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for income taxes ​ $ 1,046 ​ $ 353 ​ $ 1,399 Net income ​ $ 3,664 ​ $ (353) ​ $ 3,311 Basic earnings per share ​ $ 0.84 ​ $ (0.08) ​ $ 0.76 Diluted earnings per share ​ $ 0.84 ​ $ (0.08) ​ $ 0.76 ​

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2021
Recently Issued Accounting Standards
Recently Issued Accounting Standards	2. Recently Issued Accounting Standards: ​ In June 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326)” Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic ​

Foreign Currency Translation

Foreign Currency Translation	9 Months Ended
	Sep. 30, 2021
Foreign Currency Translation
Foreign Currency Translation	3. Foreign Currency Translation: ​ Assets and liabilities of the Company’s foreign subsidiaries have been translated using the end of the reporting period exchange rates, and related revenues and expenses have been translated at average rates of exchange in effect during the period. Foreign currency transaction gains and losses are recorded as income or expenses as amounts are settled. The net sales from our foreign operations for the three months ended September 30, 2021 and 2020 were $13.1 million and $5.0 million, respectively. The net sales from our foreign operations for the nine months ended September 30, 2021 and 2020 were $45.1 million and $16.6 million, respectively. ​

Comprehensive Income

Comprehensive Income	9 Months Ended
	Sep. 30, 2021
Comprehensive Income
Comprehensive Income	4. Comprehensive Income: ​ Cumulative translation adjustments have been classified within accumulated other comprehensive income (loss), which is a separate component of stockholders’ equity in accordance with FASB ASC Topic 220, “Comprehensive Income.” ​

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2021
Revenue Recognition
Revenue Recognition	5. Revenue Recognition: The Company’s revenues primarily result from the sale of various technology products and services, including third-party products, third-party software and third-party maintenance, software support and services. The Company recognizes revenue as control of the third-party products and third-party software is transferred to customers, which generally happens at the point of shipment or fulfilment and at the point that our customers and vendors accept the terms and conditions of the arrangement for third-party maintenance, software support and services. The Company has contracts with certain customers where the Company’s performance obligation is to arrange for the products or services to be provided by another party. In these arrangements, as the Company assumes an agency relationship in the transaction, revenue is recognized in the amount of the net fee associated with serving as an agent. These arrangements primarily relate to third party maintenance, cloud services and certain security software whose intended functionality is dependent on third party maintenance. The Company allows its customers to return product for exchange or credit subject to certain limitations. A liability is recorded at the time of sale for estimated product returns based upon historical experience and an asset is recognized for the amount expected to be recorded in inventory upon product return. The Company also provides rebates and other discounts to certain customers which are considered variable consideration. A provision for customer rebates and other discounts is recorded as a reduction of revenue at the time of sale based on an evaluation of the contract terms and historical experience. The Company considers shipping and handling activities as costs to fulfill the sales of products. Shipping revenue is included in net sales when control of the product is transferred to the customer, and the related shipping and handling costs are included in cost of products sold. Taxes imposed by governmental authorities on the Company’s revenue producing activities with customers, such as sales taxes and value added taxes, are excluded from net sales. The Company disaggregates its operating revenue by segment, geography and timing of revenue recognition, which the Company believes provides a meaningful depiction of the nature of its revenue. See segment Note 16. ​ Hardware and software products sold by the Company are generally delivered via shipment from the Company’s facilities, drop shipment directly from the vendor, or by electronic delivery of keys for software products. The majority of the Company’s business involves shipments directly from its vendors to its customers, in these transactions, the Company is generally responsible for negotiating price both with the vendor and customer, payment to the vendor, establishing payment terms with the customer, product returns, and has risk of loss if the customer does not make payment. As the principal with the customer, the Company recognizes revenue upon receiving notification from the vendor that the product was shipped. Control of software products is deemed to have passed to the customer when they acquire the right to use or copy the software under license as substantially all product functionality is available to the customer at the time of sale. ​ The Company performs an analysis of the number of days of sales in-transit to customers at the end of each reporting period based on an analysis of commercial delivery terms that include drop-shipment arrangements. This analysis is the basis upon which the Company estimates the amount of net sales in-transit at the end of the period and adjusts revenue and the related costs to reflect only what has been delivered to the customer. Changes in delivery patterns may result in a different number of business days estimated to make this adjustment. The Company also performs a weighted average analysis of the estimated number of days between order fulfillment and beginning of the renewal term for term licenses recorded on a gross basis, and a deferral estimate is recorded for term license renewals fulfilled prior to commencement date. Generally, software products are sold with accompanying third-party delivered software assurance, which is a product that allows customers to upgrade, at no additional cost, to the latest technology if new capabilities are introduced during the period that the software assurance is in effect. The Company evaluates whether the software assurance is a separate performance obligation by assessing if the third-party delivered software assurance is critical or essential to the core functionality of the software itself. This involves considering if the software provides its original intended functionality to the customer without the updates, if the customer would ascribe a higher value to the upgrades versus the up-front deliverable, if the customer would expect frequent intelligence updates to the software (such as updates that maintain the original functionality), and if the customer chooses to not delay or always install upgrades. If the Company determines that the accompanying third-party delivered software assurance is critical or essential to the core functionality of the software license, the software license and the accompanying third-party delivered software assurance are recognized as a single performance obligation. The value of the product is primarily the accompanying support delivered by a third party and therefore the Company is acting as an agent in these transactions and recognizes them on a net basis at the point the associated software license is delivered to the customer. The Company sells cloud computing solutions that utilize third-party vendors to enable customers to access data center functionality in a cloud-based solution, including storage, computing and networking and access to software in the cloud that enhances office productivity, provides security or assists in collaboration. The Company recognizes revenue for cloud computing solutions for arrangements with one-time invoicing to the customer at the time of invoice on a net basis as the Company is acting as an agent in the transaction. For monthly subscription-based arrangements, the Company is acting as an agent in the transaction and recognizes revenue as it invoices the customer for its monthly usage on a net basis. For software licenses where the accompanying third-party delivered software assurance is not critical or essential to the core functionality, the software assurance is recognized as a separate performance obligation, with the associated revenue recognized on a net basis at the point the related software license is delivered to the customer. The Company also sells some of its products and services as part of bundled contract arrangements containing multiple deliverables, which may include a combination of products and services. For each deliverable that represents a distinct performance obligation, total arrangement consideration is allocated based upon the standalone selling prices (“SSP”) of each performance obligation. SSP is determined based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through established standard prices, we use judgement and estimate the standalone selling price considering available information such as market pricing and pricing related to similar products. The Company records freight billed to its customers as net sales and the related freight costs as cost of sales when the underlying product revenue is recognized. For freight not billed to its customers, the Company records the freight costs as cost of sales. The Company’s typical shipping terms result in shipping being performed before the customer obtains control of the product. The Company considers shipping to be a fulfillment activity and not a separate performance obligation. ​ The Company pays commissions and related payroll taxes to sales personnel when customers are invoiced. These costs are recorded as selling general and administrative expenses in the period earned as all our performance obligations are complete within a short window of processing the order.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2021
Acquisition
Acquisition	6. Acquisition: Acquisition of Interwork Technologies On April 30, 2020, the Company completed the purchase of Interwork Technologies Inc., a Delaware corporation and Interwork Technologies Inc., a corporation incorporated under the laws of the Province of Ontario, Canada (collectively, “Interwork”) for an aggregate purchase price of $5 million Canadian dollar (equivalent to $3.6 million USD), subject to certain working capital adjustments, paid at closing plus a potential post-closing $1.1 million Canadian dollars (equivalent to $0.8 million USD) earn-out. The purchase price allocation is final, with no measurement period adjustments made to the account balances recorded at the acquisition date. Acquisition of CDF Group Limited On November 6, 2020, the Company entered into a Share Purchase Agreement and purchased the entire share capital of CDF Group Limited (“CDF”) for an aggregate purchase price of approximately £13.3 million (equivalent to approximately $17.4 million USD), subject to certain working capital and other adjustments. The purchase price allocation is final, with no measurement period adjustments made to the account balances recorded at the acquisition date. There were no acquisition related costs incurred during the three and nine months ended September 30, 2021, respectively. The Company incurred acquisition related costs of approximately $0.3 million and $1.0 million during the three and nine months ended September 30, 2020, respectively, in conjunction with the acquisitions of Interwork and CDF, which are reflected in the accompanying consolidated statements of earnings.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	7. Goodwill and Other Intangible Assets: ​ ​ ​ ​ ​ ​ Balance at January 1, 2021 ​ $ 16,816 Translation adjustments ​ ​ 317 Balance September 30, 2021 ​ $ 17,133 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2021 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 10,522 ​ $ 876 ​ $ 9,646 Trade name ​ ​ 517 ​ ​ 31 ​ ​ 486 Non-compete ​ ​ 52 ​ ​ 48 ​ ​ 4 Total ​ $ 11,091 ​ $ 955 ​ $ 10,136 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 10,361 ​ $ 272 ​ $ 10,089 Trade name ​ ​ 504 ​ ​ 5 ​ ​ 499 Non-compete ​ ​ 50 ​ ​ 13 ​ ​ 37 Total ​ $ 10,915 ​ $ 290 ​ $ 10,625 ​ eleven ​ ​ ​ ​ ​ ​ ​ 2021 (excluding the nine months ended September 30, 2021) $ 209 2022 ​ 820 2023 ​ 820 2024 ​ 820 2025 ​ 820 Thereafter ​ 6,647 Total ​ $ 10,136 ​

Right-of-use Asset and Lease Li

Right-of-use Asset and Lease Liability	9 Months Ended
	Sep. 30, 2021
Right-of-use Asset and Lease Liability
Right-of-use Asset and Lease Liability	8. Right-of-use Asset and Lease Liability: ​ The Company has entered into operating leases for office and warehouse facilities, which have terms at lease commencement that range from 2 years to 11 years. The Company determines if an arrangement is a lease at inception. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets and lease expense for these leases is recognized on a straight-line basis over the lease term. ​ Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date of the lease based on the present value of the lease payments over the lease term. As our leases do not provide a readily determinable implicit rate, we use an incremental borrowing rate based on the information available at commencement date, including lease term, in determining the present value of future payments. The operating lease asset also includes any lease payments made and excludes lease incentives. Operating lease expense is recognized on a straight-line basis over the lease term and included in selling, general and administrative expenses. ​ Information related to the Company’s ROU assets and related lease liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ September 30, ​ ​ ​ 2021 ​ ​ 2020 Cash paid for operating lease liabilities ​ $ 479 ​ $ 248 Right-of-use assets obtained in exchange for new operating lease obligations ​ $ 38 ​ $ 128 Weighted-average remaining lease term ​ ​ 5.4 years ​ ​ 6.5 years Weighted-average discount rate ​ ​ 3.5% ​ ​ 3.3% ​ Maturities of lease liabilities as of September 30, 2021 were as follows: ​ ​ ​ ​ ​ 2021 (excluding the nine months ended September 30, 2021) $ 119 2022 ​ 498 2023 ​ 534 2024 ​ 544 2025 ​ 554 Thereafter ​ 676 ​ ​ ​ 2,925 Less: imputed interest ​ ​ (666) Total lease liabilities ​ $ 2,259 ​ ​ ​ ​ Lease liabilities, current portion ​ ​ 441 Lease liabilities, net of current portion ​ ​ 1,818 Total lease liabilities ​ $ 2,259 ​

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2021
Fair Value
Fair Value	9. Fair Value: ​ The carrying amounts of financial instruments, including cash and cash equivalents, short-term accounts receivable and accounts payable approximated fair value at September 30, 2021 and December 31, 2020 because of the relative short maturity of these instruments. The Company’s accounts receivable long-term are discounted to their present value at prevailing market rates at the time of sale. ​

Balance Sheet Detail

Balance Sheet Detail	9 Months Ended
	Sep. 30, 2021
Balance Sheet Detail
Balance Sheet Detail	10. Balance Sheet Detail: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Equipment ​ $ 2,603 ​ $ 2,482 Capitalized software ​ ​ 786 ​ ​ 777 Leasehold improvements ​ 1,753 ​ 1,760 ​ ​ 5,142 ​ 5,019 Less accumulated depreciation and amortization ​ (3,143) ​ (2,711) ​ ​ $ 1,999 ​ $ 2,308 ​ During the three months ended September 30, 2021 and 2020, the Company recorded depreciation and amortization expense of $0.2 million and $0.1 million, respectively. During the nine months ended September 30, 2021 and 2020, the Company recorded depreciation and amortization expense of $0.5 million and $0.3 million, respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Total amount due from customer ​ $ 644 ​ $ 1,853 Less: unamortized discount ​ (14) ​ (49) Less: current portion included in accounts receivable ​ (533) ​ (1,500) ​ ​ $ 97 ​ $ 304 ​ The undiscounted cash flows to be received by the Company relating to these accounts receivable long-term expects to be $1.0 million during the 12-month period ending September 30, 2022 and less than $0.1 million during the 12-month periods ending September 30, 2023 and 2024 , respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2021 2020 Trade accounts payable ​ $ 110,673 ​ $ 107,045 ​ Accrued expenses ​ 7,599 ​ 9,647 ​ ​ ​ $ 118,272 ​ $ 116,692 ​ ​

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2021
Credit Facility.
Credit Facility	11. Credit Facility: ​ On November 15, 2017, the Company entered into a $20,000,000 revolving credit facility (the “Credit Facility”) with Citibank, N.A. (“Citibank”) pursuant to a Second Amended and Restated Revolving Credit Loan Agreement (the “Loan Agreement”), Second Amended and Restated Revolving Credit Loan Note (the “Note”), Second Amended and Restated Security Agreement and Second Amended and Restated Pledge and Security Agreement. On August 31, 2020, the Company entered into an amendment to the Credit Facility (the “Amended Credit Facility”) pursuant to a First Amendment to Second Amended and Restated Revolving Credit Loan Agreement and Other Loan Documents (collectively, the “Amended Loan Agreement”) and First Allonge to Second Amended and Restated Revolving Credit Loan Note (the “Amended Note”). ​ The Amended Credit Facility, which will continue to be used for working capital and general corporate purposes, matures on June 30, 2023, at which time the Company must pay all outstanding principal of all outstanding loans plus all accrued and unpaid interest, and any fees, costs and expenses. In addition, the Company will pay regular monthly payments of all accrued and unpaid interest. The interest rate for any borrowings under the Amended Credit Facility is subject to change from time to time based on the changes in the LIBOR Rate, as defined in the Amended Loan Agreement (the “Index”). The Index was 2.50% at September 30, 2021. Interest on the unpaid principal balance of the Amended Note will be calculated using a rate of 1.75 percentage points over the Index. If the Index becomes unavailable during the term of the Amended Credit Facility, interest will be based upon the Benchmark Replacement (as defined in the Amended Loan Agreement) selected by Citibank after notifying the Company. The Amended Credit Facility is secured by the assets of the Company. ​ Among other affirmative covenants set forth in the Loan Agreement, which were not amended as part of the Amended Credit Facility, the Company must maintain (i) a minimum Debt Service Coverage Ratio (as defined in the Loan Agreement) of not less than 2.0 to 1.0, (ii) a maximum Leverage Ratio (as defined in the Loan Agreement) of at least 2.5 to 1.0, and (iii) a minimum Collateral Coverage Ratio (as defined in the Loan Agreement) of not less than 1.5 to 1.0. Additionally, the Loan Agreement contains negative covenants, which were not amended as part of the Amended Credit Facility, prohibiting, among other things, the creation of certain liens, the alteration of the nature or character of the Company’s business, and transactions with the Company’s shareholders, directors, officers, subsidiaries and/or affiliates other than with respect to (i) the repurchase of the issued and outstanding capital stock of the Company from the stockholders of the Company or (ii) the declaration and payment of dividends to the stockholders of the Company. The Company was in compliance with all such covenants at September 30, 2021 and December 31, 2020. ​ At September 30, 2021 and December 31, 2020, the Company had no borrowings outstanding under the Credit Facility. ​ On April 13, 2021, Wayside Technology UK Holdings Limited (“Wayside UK”), a wholly-owned subsidiary of the Company, entered into an uncommitted short term credit facility of £8,000,000 (“Uncommitted Credit Facility”) with Citibank N.A., London Branch (“Citibank London”) pursuant to certain terms and conditions. Obligations under the Uncommitted Credit Facility are guaranteed by the Company and will be used for working capital and general corporate purposes and have a maturity date of April 13, 2022, at which time Wayside UK must pay all outstanding principal of all outstanding loans plus all accrued and unpaid interest, and any interest, fees, costs and expenses, if any. ​ Interest on the unpaid principal balance of the Uncommitted Credit Facility will be calculated using a rate of 1.85 percentage points over the Daily Rate, as defined in the Uncommitted Credit Facility. Amounts borrowed under the Uncommitted Credit Facility will be guaranteed by the Company. The Uncommitted Credit Facility may be cancelled at any time by Citibank London. Citibank London has the sole discretion to accept or reject any requested utilization of the Uncommitted Credit Facilitation. ​ At September 30, 2021, Wayside UK had no borrowings outstanding under the Uncommitted Credit Facility. ​

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share
Earnings Per Share	12. Earnings Per Share: ​ Our basic and diluted earnings per share are computed using the two-class method in accordance with ASC 260. The two-class method is an earnings allocation that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. Per share amounts are computed by dividing net income available to common shareholders by the weighted average shares outstanding during each period. Diluted and basic earnings per share are the same because the restricted shares are the only potentially dilutive security. ​ A reconciliation of the numerators and denominators of the basic and diluted per share computations follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ (Unaudited) ​ ​ ​ Nine months ended ​ Three months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 5,751 ​ $ 1,947 ​ $ 2,440 ​ $ 530 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less distributed and undistributed income allocated to participating securities ​ ​ 175 ​ ​ 59 ​ ​ 66 ​ ​ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to common shareholders ​ ​ 5,576 ​ ​ 1,888 ​ ​ 2,374 ​ ​ 514 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares (Basic) ​ 4,263 ​ 4,306 ​ 4,282 ​ 4,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares including assumed conversions (Diluted) ​ 4,263 ​ 4,306 ​ 4,282 ​ 4,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income per share ​ $ 1.31 ​ $ 0.44 ​ $ 0.55 ​ $ 0.13 ​ Diluted net income per share ​ $ 1.31 ​ $ 0.44 ​ $ 0.55 ​ $ 0.13 ​ ​

Major Customers and Vendors

Major Customers and Vendors	9 Months Ended
	Sep. 30, 2021
Major Customers and Vendors
Major Customers and Vendors	13. Major Customers and Vendors: ​ The Company had two major vendors that accounted for 20% and 9%, respectively, of total purchases during the three months ended September 30, 2021 and 21% and 12%, respectively, of total purchases during the three months ended September 30, 2020. The Company had two major vendors that accounted for 20% and 9%, respectively, of total purchases during the nine months ended September 30, 2021 and 20% and 9%, respectively, of total purchases during the nine months ended September 30, 2020. ​ The Company had two major customers that accounted for 21% and 18%, respectively, of its net sales during the three months ended September 30, 2021 and 22% and 12%, respectively, of its net sales during the three months ended September 30, 2020. The Company had two major customers that accounted for 22% and 17%, respectively, of its net sales during the nine months ended September 30, 2021 and 26% and 14%, respectively, of its net sales during the nine months ended September 30, 2020. These same customers accounted for 16% and 15%, respectively, of total net accounts receivable as of September 30, 2021 and 19% and 9%, respectively, of total net accounts receivable as of December 31, 2020. ​

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Taxes
Income Taxes	14. Income Taxes: ​ The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions. The Company’s policy is to recognize interest related to unrecognized tax benefits as interest expense and penalties as operating expenses. The Company believes that it has appropriate support for the income tax positions it takes and expects to take on its tax returns, and that its accruals for tax liabilities are adequate for all open years based on an assessment of many factors including past experience and interpretations of tax law applied to the facts of each matter. ​

Stockholders' Equity and Stock

Stockholders' Equity and Stock Based Compensation	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity and Stock Based Compensation
Stockholders' Equity and Stock Based Compensation	15. Stockholders’ Equity and Stock Based Compensation: ​ The 2021 Omnibus Incentive Plan (the “2021 Plan”) authorizes the grant of Stock Options, Stock Units, Stock Appreciation Rights, Restricted Stock, Deferred Stock, Stock Bonuses and other equity-based awards. The 2021 Plan was approved by the Company’s stockholders at the 2021 Annual Meeting in June 2021. The total number of shares of the Company’s common stock, par value $0.01 per share (“Common Stock”) initially available for award under the 2021 Plan was 500,000 shares. As of September 30, 2021, the number of shares of Common Stock available for future award grants to employees, officers and directors under the 2021 Plan is 446,068. ​ The 2012 Stock-Based Compensation Plan (the “2012 Plan”) authorizes the grant of Stock Options, Stock Units, Stock Appreciation Rights, Restricted Stock, Deferred Stock, Stock Bonuses and other equity-based awards. The total number of shares of the Company’s Common Stock initially available for award under the 2012 Plan was 600,000, which was increased to 1,000,000 shares by stockholder approval at the Company’s 2018 Annual Meeting in June 2018. Immediately prior to the replacement of the 2012 Plan by the 2021 Plan, there were 352,158 shares of Common Stock available under the 2012 Plan. The 2012 Plan has been replaced by the 2021 Plan and none of the remaining shares of Common Stock authorized under the 2012 Plan will be transferred to or used under the 2021 Plan nor will any awards under the 2012 Plan that are forfeited increase the shares available for awards under the 2021 Plan. As of September 30, 2021, the number of shares of Common Stock available under the 2012 Plan is zero. ​ During the nine months ended September 30, 2021, the Company granted a total of 106,122 shares of Restricted Stock to directors, officers and employees. These shares of Restricted Stock vest immediately or over time in sixteen equal quarterly installments. During the nine months ended September 30, 2021, a total of 20,184 shares of Restricted Stock were forfeited. ​ During the nine months ended September 30, 2020, the Company granted a total of 134,165 shares of Restricted Stock to directors, officers and employees. These shares of Restricted Stock vest immediately or over time in sixteen equal quarterly installments. During the nine months ended September 30, 2020, a total of 4,682 shares of Restricted Stock were forfeited. ​ A summary of nonvested shares of Restricted Stock awards outstanding under the 2012 and 2021 Plans as of September 30, 2021, and changes during the nine months then ended is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ ​ ​ ​ Date ​ ​ Shares ​ Fair Value Nonvested shares at January 1, 2021 122,792 ​ $ 13.37 ​ Granted in 2021 106,122 ​ 22.96 ​ Vested in 2021 (69,087) ​ 17.68 ​ Forfeited in 2021 (20,184) ​ 16.04 ​ Nonvested shares at September 30, 2021 139,643 ​ $ 18.14 ​ ​ As of September 30, 2021, there is approximately $2.4 million of total unrecognized compensation costs related to nonvested share-based compensation arrangements. The unrecognized compensation cost is expected to be recognized over a weighted-average period of 3.0 years. During the three months ended September 30, 2021 and 2020, the Company recognized share-based compensation expense of $0.6 million, respectively. During the nine months ended September 30, 2021 and 2020, the Company recognized share-based compensation expense of $1.3 million and $1.0 million, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Information
Segment Information	16. Segment Information: ​ The Company distributes software developed by others through resellers indirectly to customers worldwide. We also resell computer software and hardware developed by others and provide technical services directly to customers worldwide. ​ FASB ASC Topic 280, “Segment Reporting,” requires that public companies report profits and losses and certain other information on their “reportable operating segments” in their annual and interim financial statements. The internal organization used by the public company’s Chief Operating Decision Maker (CODM) to assess performance and allocate resources determines the basis for reportable operating segments. The Company’s CODM is the Chief Executive Officer. ​ The Company is organized into two reportable operating segments. The “Distribution” segment distributes technical software to corporate resellers, value added resellers (VARs), consultants and systems integrators worldwide. The “Solutions” segment is a cloud solutions provider and value-added reseller of software, hardware and services to customers worldwide. ​ As permitted by FASB ASC Topic 280, the Company has utilized the aggregation criteria in combining its operations in Canada, Europe and the United Kingdom with the domestic segments as the international operations provide the same products and services to similar clients and are considered together when the Company’s CODM decides how to allocate resources. ​ Segment income is based on segment revenue less the respective segment’s cost of revenues as well as segment direct costs (including such items as payroll costs and payroll related costs, such as profit sharing, incentive awards and insurance) and excluding general and administrative expenses not attributed to an individual segment business unit. The Company only identifies accounts receivable, vendor prepayments and inventory by segment as shown below as “Selected Assets” by segment; it does not allocate its other assets, including capital expenditures by segment. The following segment reporting information of the Company is provided: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ Three months ended ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 188,785 ​ $ 168,536 ​ $ 64,094 ​ $ 57,059 Solutions ​ 18,289 ​ 11,588 ​ 4,817 ​ 3,860 ​ ​ 207,074 ​ 180,124 ​ 68,911 ​ 60,919 Gross Profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 25,985 ​ $ 20,390 ​ $ 9,298 ​ $ 6,585 Solutions ​ 7,155 ​ 2,125 ​ 2,021 ​ 652 ​ ​ 33,140 ​ 22,515 ​ 11,319 ​ 7,237 Direct Costs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 11,073 ​ $ 8,387 ​ $ 3,484 ​ $ 2,993 Solutions ​ 3,620 ​ 992 ​ 1,092 ​ 275 ​ ​ 14,693 ​ 9,379 ​ 4,576 ​ 3,268 Segment Income Before Taxes: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 14,912 ​ $ 12,003 ​ $ 5,814 ​ $ 3,592 Solutions ​ 3,535 ​ 1,133 ​ 929 ​ 377 Segment Income Before Taxes ​ 18,447 ​ 13,136 ​ 6,743 ​ 3,969 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ General and administrative ​ $ 9,619 ​ $ 7,487 ​ $ 3,185 ​ $ 2,725 Legal and financial advisory expenses, net - unsolicited bid and related matters ​ ​ — ​ ​ 1,752 ​ ​ — ​ ​ (81) Acquisition related costs ​ ​ — ​ ​ 982 ​ ​ — ​ ​ 344 Amortization and depreciation expense ​ ​ 1,177 ​ ​ 403 ​ ​ 381 ​ ​ 164 Interest, net ​ 362 ​ 105 ​ ​ 60 ​ ​ 19 Foreign currency transaction (loss) gain ​ ​ (107) ​ ​ 211 ​ (41) ​ (67) Income before taxes ​ $ 7,906 ​ $ 2,828 ​ $ 3,196 ​ $ 769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Excludes general corporate expenses including interest and foreign currency transaction (loss) gain. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ Selected Assets by Segment: ​ 2021 ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 113,441 ​ $ 106,930 ​ Solutions ​ 19,973 ​ 20,807 ​ Segment Select Assets ​ 133,414 ​ 127,737 ​ Corporate Assets ​ 38,322 ​ 37,796 ​ Total Assets ​ $ 171,736 ​ $ 165,533 ​ ​ ​ Geographic areas and net sales mix related to operations for the three and nine months ended September 30, 2021 and 2020 were as follows. Revenue is allocated to a geographic area based on the location of the sale, which is generally the customer’s country of domicile. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended Three months ended ​ ​ September 30, 2021 ​ September 30, 2021 ​ ​ Distribution Solutions ​ Total ​ Distribution Solutions ​ Total Geography ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 152,789 ​ $ 9,194 ​ $ 161,983 ​ $ 53,744 ​ $ 2,030 ​ $ 55,774 Europe and United Kingdom ​ 18,758 ​ 8,020 ​ 26,778 ​ 5,789 ​ 2,449 ​ 8,238 Canada ​ 17,238 ​ 1,075 ​ 18,313 ​ 4,561 ​ 338 ​ 4,899 Total net sales ​ $ 188,785 ​ $ 18,289 ​ $ 207,074 ​ $ 64,094 ​ $ 4,817 ​ $ 68,911 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 171,151 ​ $ 13,064 ​ $ 184,215 ​ $ 57,917 ​ $ 3,167 ​ $ 61,084 Transferred at a point in time where the Company is agent (2) ​ 17,634 ​ 5,225 ​ 22,859 ​ 6,177 ​ 1,650 ​ 7,827 Total net sales ​ $ 188,785 ​ $ 18,289 ​ $ 207,074 ​ $ 64,094 ​ $ 4,817 ​ $ 68,911 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended Three months ended ​ ​ September 30, 2020 ​ September 30, 2020 ​ ​ Distribution Solutions ​ Total ​ Distribution Solutions ​ Total Geography ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 154,727 ​ $ 10,251 ​ $ 164,978 ​ $ 53,857 ​ $ 3,553 ​ $ 57,410 Europe and United Kingdom ​ 6,283 ​ — ​ 6,283 ​ 1,748 ​ — ​ 1,748 Canada ​ 7,526 ​ 1,337 ​ 8,863 ​ 1,454 ​ 307 ​ 1,761 Total net sales ​ $ 168,536 ​ $ 11,588 ​ $ 180,124 ​ $ 57,059 ​ $ 3,860 ​ $ 60,919 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 155,038 ​ $ 10,913 ​ $ 165,951 ​ $ 52,706 ​ $ 3,664 ​ $ 56,370 Transferred at a point in time where the Company is agent (2) ​ 13,498 ​ 675 ​ 14,173 ​ 4,353 ​ 196 ​ 4,549 Total net sales ​ $ 168,536 ​ $ 11,588 ​ $ 180,124 ​ $ 57,059 ​ $ 3,860 ​ $ 60,919 ​ (1) Includes net sales from third-party hardware and software products. ​ (2) Includes net sales from third-party maintenance, software support and services. ​ Geographic identifiable assets related to operations as of September 30, 2021 and December 31, 2020 were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Identifiable Assets by Geographic Areas ​ 2021 2020 ​ USA ​ $ 110,114 ​ $ 114,126 ​ Canada ​ ​ 20,649 ​ ​ 18,514 ​ Europe and United Kingdom ​ ​ 40,973 ​ ​ 32,893 ​ Total ​ $ 171,736 ​ $ 165,533 ​ ​

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions
Related Party Transactions	17. Related Party Transactions: ​ The Company made sales to a customer where a member of our Board of Directors is an executive. During the three months ended September 30, 2021 and 2020, net sales to this customer totaled approximately $0.1 million, respectively. During the nine months ended September 30, 2021 and 2020, net sales to this customer totaled approximately $0.2 million and $0.1 million, respectively. Amounts due from this customer as of September 30, 2021 and December 31, 2020 were approximately $0.1 million, respectively, which were settled in cash subsequent to each period end.

Unsolicited Bid and Shareholder

Unsolicited Bid and Shareholder Demand	9 Months Ended
	Sep. 30, 2021
Unsolicited Bid and Shareholder Demand
Unsolicited Bid and Shareholder Demand	18. Unsolicited Bid and Shareholder Demand: ​ On April 16, 2020 (the “Effective Date”), the Company entered into a Settlement Agreement (the “Settlement Agreement”) with Simon Nynens, Shepherd Kaplan Krochuk, LLC, North & Webster SSG, LLC, and each of Dennis Crowley, David Shepherd, David Kaplan, Timothy Krochuk and Samuel Kidston relating to an unsolicited bid and shareholder demand. Pursuant to the Settlement Agreement, the Company agreed to purchase all of Mr. Nynens’ 261,631 shares of the Common Stock owned, of record or beneficially, as of the Effective Date, at fair market value, as defined in the agreement. ​ On April 23, 2020, the Company purchased all of Nynens’ 261,631 shares of Common Stock at $13.19 per share pursuant to the Settlement Agreement, representing approximately 5.8% of the issued and outstanding Common Stock of the Company, for an aggregate purchase price of $3.5 million. ​ The Company incurred zero in legal and advisory expenses, net during the three months ended September 30, 2021 and realized reimbursement for insurance proceeds during the three months ended September 31, 2020, respectively, related to the above matter. The Company incurred zero and $1.8 million in legal and advisory expenses, net during the nine months ended September 30, 2021 and 2020, respectively, related to the above matter.

Risks and Uncertainties Related

Risks and Uncertainties Related to the COVID-19 Pandemic	9 Months Ended
	Sep. 30, 2021
Risks and Uncertainties Related to the COVID-19 Pandemic
Risks and Uncertainties Related to the COVID-19 Pandemic	19. Risks and Uncertainties Related to the COVID-19 Pandemic: ​ In March 2020, the World Health Organization declared the novel coronavirus, COVID-19, a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. While the Company offers a full suite of solutions and services that address customer priorities across the technology landscape, it is not possible for the Company to predict the duration or magnitude of adverse results of the outbreak and its effects on the Company’s business, liquidity or results of operations at this time. As a result, many of the estimates and assumptions used in preparation of these interim financial statements required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve with respect to the pandemic, the Company’s estimates may materially change in future periods.

Recently Issued Accounting St_2

Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2021
Recently Issued Accounting Standards
Recently Issued Accounting Standards	In June 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326)” Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2021
Basis of Presentation
Schedule of revision of error for estimated foreign tax liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2021 ​ ​ As Previously ​ ​ ​ As ​ ​ Reported ​ Revision ​ Corrected Condensed Consolidated Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities ​ $ 1,462 ​ $ 353 ​ $ 1,815 Total liabilities ​ $ 121,305 ​ $ 353 ​ $ 121,658 Retained earnings ​ $ 30,356 ​ $ (353) ​ $ 30,003 Total liabilities and stockholders' equity ​ $ 169,891 ​ $ — ​ $ 169,891 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 ​ ​ As Previously ​ ​ ​ As ​ ​ Reported ​ Revision ​ Corrected Condensed Consolidated Statement of Earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for income taxes ​ $ 615 ​ $ 353 ​ $ 968 Net income ​ $ 2,144 ​ $ (353) ​ $ 1,791 Basic earnings per share ​ $ 0.49 ​ $ (0.08) ​ $ 0.41 Diluted earnings per share ​ $ 0.49 ​ $ (0.08) ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 ​ ​ As Previously ​ ​ ​ As ​ ​ Reported ​ Revision ​ Corrected Condensed Consolidated Statement of Earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for income taxes ​ $ 1,046 ​ $ 353 ​ $ 1,399 Net income ​ $ 3,664 ​ $ (353) ​ $ 3,311 Basic earnings per share ​ $ 0.84 ​ $ (0.08) ​ $ 0.76 Diluted earnings per share ​ $ 0.84 ​ $ (0.08) ​ $ 0.76

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Other Intangible Assets
Summary of goodwill	​ ​ ​ ​ ​ Balance at January 1, 2021 ​ $ 16,816 Translation adjustments ​ ​ 317 Balance September 30, 2021 ​ $ 17,133
Summary of other intangibles, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2021 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 10,522 ​ $ 876 ​ $ 9,646 Trade name ​ ​ 517 ​ ​ 31 ​ ​ 486 Non-compete ​ ​ 52 ​ ​ 48 ​ ​ 4 Total ​ $ 11,091 ​ $ 955 ​ $ 10,136 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 10,361 ​ $ 272 ​ $ 10,089 Trade name ​ ​ 504 ​ ​ 5 ​ ​ 499 Non-compete ​ ​ 50 ​ ​ 13 ​ ​ 37 Total ​ $ 10,915 ​ $ 290 ​ $ 10,625
Schedule of estimated future amortization expense of other intangible assets	​ ​ ​ ​ ​ 2021 (excluding the nine months ended September 30, 2021) $ 209 2022 ​ 820 2023 ​ 820 2024 ​ 820 2025 ​ 820 Thereafter ​ 6,647 Total ​ $ 10,136

Right-of-use Asset and Lease _2

Right-of-use Asset and Lease Liability (Tables)	9 Months Ended
	Sep. 30, 2021
Right-of-use Asset and Lease Liability
Schedule of information relating to right-of-use assets and related lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ September 30, ​ ​ ​ 2021 ​ ​ 2020 Cash paid for operating lease liabilities ​ $ 479 ​ $ 248 Right-of-use assets obtained in exchange for new operating lease obligations ​ $ 38 ​ $ 128 Weighted-average remaining lease term ​ ​ 5.4 years ​ ​ 6.5 years Weighted-average discount rate ​ ​ 3.5% ​ ​ 3.3%
Schedule of maturities of lease liabilities	​ ​ ​ ​ ​ 2021 (excluding the nine months ended September 30, 2021) $ 119 2022 ​ 498 2023 ​ 534 2024 ​ 544 2025 ​ 554 Thereafter ​ 676 ​ ​ ​ 2,925 Less: imputed interest ​ ​ (666) Total lease liabilities ​ $ 2,259 ​ ​ ​ ​ Lease liabilities, current portion ​ ​ 441 Lease liabilities, net of current portion ​ ​ 1,818 Total lease liabilities ​ $ 2,259

Balance Sheet Detail (Tables)

Balance Sheet Detail (Tables)	9 Months Ended
	Sep. 30, 2021
Balance Sheet Detail
Schedule of equipment and leasehold improvements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Equipment ​ $ 2,603 ​ $ 2,482 Capitalized software ​ ​ 786 ​ ​ 777 Leasehold improvements ​ 1,753 ​ 1,760 ​ ​ 5,142 ​ 5,019 Less accumulated depreciation and amortization ​ (3,143) ​ (2,711) ​ ​ $ 1,999 ​ $ 2,308
Schedule of accounts receivable - long term, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Total amount due from customer ​ $ 644 ​ $ 1,853 Less: unamortized discount ​ (14) ​ (49) Less: current portion included in accounts receivable ​ (533) ​ (1,500) ​ ​ $ 97 ​ $ 304
Schedule of accounts payable and accrued expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2021 2020 Trade accounts payable ​ $ 110,673 ​ $ 107,045 ​ Accrued expenses ​ 7,599 ​ 9,647 ​ ​ ​ $ 118,272 ​ $ 116,692 ​

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share
Schedule of reconciliation of the numerators and denominators for computations of the basic and diluted per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ (Unaudited) ​ ​ ​ Nine months ended ​ Three months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 5,751 ​ $ 1,947 ​ $ 2,440 ​ $ 530 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less distributed and undistributed income allocated to participating securities ​ ​ 175 ​ ​ 59 ​ ​ 66 ​ ​ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to common shareholders ​ ​ 5,576 ​ ​ 1,888 ​ ​ 2,374 ​ ​ 514 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares (Basic) ​ 4,263 ​ 4,306 ​ 4,282 ​ 4,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares including assumed conversions (Diluted) ​ 4,263 ​ 4,306 ​ 4,282 ​ 4,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income per share ​ $ 1.31 ​ $ 0.44 ​ $ 0.55 ​ $ 0.13 ​ Diluted net income per share ​ $ 1.31 ​ $ 0.44 ​ $ 0.55 ​ $ 0.13 ​

Stockholders' Equity and Stoc_2

Stockholders' Equity and Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity and Stock Based Compensation
Summary of nonvested shares of Restricted Stock awards outstanding and the changes during the period	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ ​ ​ ​ Date ​ ​ Shares ​ Fair Value Nonvested shares at January 1, 2021 122,792 ​ $ 13.37 ​ Granted in 2021 106,122 ​ 22.96 ​ Vested in 2021 (69,087) ​ 17.68 ​ Forfeited in 2021 (20,184) ​ 16.04 ​ Nonvested shares at September 30, 2021 139,643 ​ $ 18.14 ​

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Information
Schedule of segment reporting information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ Three months ended ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 188,785 ​ $ 168,536 ​ $ 64,094 ​ $ 57,059 Solutions ​ 18,289 ​ 11,588 ​ 4,817 ​ 3,860 ​ ​ 207,074 ​ 180,124 ​ 68,911 ​ 60,919 Gross Profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 25,985 ​ $ 20,390 ​ $ 9,298 ​ $ 6,585 Solutions ​ 7,155 ​ 2,125 ​ 2,021 ​ 652 ​ ​ 33,140 ​ 22,515 ​ 11,319 ​ 7,237 Direct Costs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 11,073 ​ $ 8,387 ​ $ 3,484 ​ $ 2,993 Solutions ​ 3,620 ​ 992 ​ 1,092 ​ 275 ​ ​ 14,693 ​ 9,379 ​ 4,576 ​ 3,268 Segment Income Before Taxes: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 14,912 ​ $ 12,003 ​ $ 5,814 ​ $ 3,592 Solutions ​ 3,535 ​ 1,133 ​ 929 ​ 377 Segment Income Before Taxes ​ 18,447 ​ 13,136 ​ 6,743 ​ 3,969 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ General and administrative ​ $ 9,619 ​ $ 7,487 ​ $ 3,185 ​ $ 2,725 Legal and financial advisory expenses, net - unsolicited bid and related matters ​ ​ — ​ ​ 1,752 ​ ​ — ​ ​ (81) Acquisition related costs ​ ​ — ​ ​ 982 ​ ​ — ​ ​ 344 Amortization and depreciation expense ​ ​ 1,177 ​ ​ 403 ​ ​ 381 ​ ​ 164 Interest, net ​ 362 ​ 105 ​ ​ 60 ​ ​ 19 Foreign currency transaction (loss) gain ​ ​ (107) ​ ​ 211 ​ (41) ​ (67) Income before taxes ​ $ 7,906 ​ $ 2,828 ​ $ 3,196 ​ $ 769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Excludes general corporate expenses including interest and foreign currency transaction (loss) gain. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ Selected Assets by Segment: ​ 2021 ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 113,441 ​ $ 106,930 ​ Solutions ​ 19,973 ​ 20,807 ​ Segment Select Assets ​ 133,414 ​ 127,737 ​ Corporate Assets ​ 38,322 ​ 37,796 ​ Total Assets ​ $ 171,736 ​ $ 165,533 ​ ​
Summary of disaggregation of revenue according to revenue type	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended Three months ended ​ ​ September 30, 2021 ​ September 30, 2021 ​ ​ Distribution Solutions ​ Total ​ Distribution Solutions ​ Total Geography ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 152,789 ​ $ 9,194 ​ $ 161,983 ​ $ 53,744 ​ $ 2,030 ​ $ 55,774 Europe and United Kingdom ​ 18,758 ​ 8,020 ​ 26,778 ​ 5,789 ​ 2,449 ​ 8,238 Canada ​ 17,238 ​ 1,075 ​ 18,313 ​ 4,561 ​ 338 ​ 4,899 Total net sales ​ $ 188,785 ​ $ 18,289 ​ $ 207,074 ​ $ 64,094 ​ $ 4,817 ​ $ 68,911 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 171,151 ​ $ 13,064 ​ $ 184,215 ​ $ 57,917 ​ $ 3,167 ​ $ 61,084 Transferred at a point in time where the Company is agent (2) ​ 17,634 ​ 5,225 ​ 22,859 ​ 6,177 ​ 1,650 ​ 7,827 Total net sales ​ $ 188,785 ​ $ 18,289 ​ $ 207,074 ​ $ 64,094 ​ $ 4,817 ​ $ 68,911 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended Three months ended ​ ​ September 30, 2020 ​ September 30, 2020 ​ ​ Distribution Solutions ​ Total ​ Distribution Solutions ​ Total Geography ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 154,727 ​ $ 10,251 ​ $ 164,978 ​ $ 53,857 ​ $ 3,553 ​ $ 57,410 Europe and United Kingdom ​ 6,283 ​ — ​ 6,283 ​ 1,748 ​ — ​ 1,748 Canada ​ 7,526 ​ 1,337 ​ 8,863 ​ 1,454 ​ 307 ​ 1,761 Total net sales ​ $ 168,536 ​ $ 11,588 ​ $ 180,124 ​ $ 57,059 ​ $ 3,860 ​ $ 60,919 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 155,038 ​ $ 10,913 ​ $ 165,951 ​ $ 52,706 ​ $ 3,664 ​ $ 56,370 Transferred at a point in time where the Company is agent (2) ​ 13,498 ​ 675 ​ 14,173 ​ 4,353 ​ 196 ​ 4,549 Total net sales ​ $ 168,536 ​ $ 11,588 ​ $ 180,124 ​ $ 57,059 ​ $ 3,860 ​ $ 60,919 ​ (1) Includes net sales from third-party hardware and software products. ​ (2) Includes net sales from third-party maintenance, software support and services.
Schedule of net sales to identifiable assets by geographic areas	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Identifiable Assets by Geographic Areas ​ 2021 2020 ​ USA ​ $ 110,114 ​ $ 114,126 ​ Canada ​ ​ 20,649 ​ ​ 18,514 ​ Europe and United Kingdom ​ ​ 40,973 ​ ​ 32,893 ​ Total ​ $ 171,736 ​ $ 165,533 ​

Basis of Presentation - Revisio

Basis of Presentation - Revision of error (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Condensed Consolidated Balance Sheets
Deferred income tax liabilities	$ 1,738	$ 1,815					$ 1,815	$ 1,738		$ 1,467
Total liabilities	122,269	121,658					121,658	122,269		120,816
Retained earnings	31,696	30,003					30,003	31,696		28,191
Total liabilities and stockholders' equity	171,736	169,891					169,891	171,736		$ 165,533
Condensed Consolidated Statements of Earnings
Provision for income taxes	756	968		$ 239			1,399	2,155	$ 881
Net income	$ 2,440	$ 1,791	$ 1,520	$ 530	$ 581	$ 836	$ 3,311	$ 5,751	$ 1,947
Basic net income per share	$ 0.55	$ 0.41		$ 0.13			$ 0.76	$ 1.31	$ 0.44
Diluted net income per share	$ 0.55	$ 0.41		$ 0.13			$ 0.76	$ 1.31	$ 0.44
As Previously Reported
Condensed Consolidated Balance Sheets
Deferred income tax liabilities		$ 1,462					$ 1,462
Total liabilities		121,305					121,305
Retained earnings		30,356					30,356
Total liabilities and stockholders' equity		169,891					169,891
Condensed Consolidated Statements of Earnings
Provision for income taxes		615					1,046
Net income		$ 2,144					$ 3,664
Basic net income per share		$ 0.49					$ 0.84
Diluted net income per share		$ 0.49					$ 0.84
Estimated Foreign Tax Liability | Revision
Condensed Consolidated Balance Sheets
Deferred income tax liabilities		$ 353					$ 353
Total liabilities		353					353
Retained earnings		(353)					(353)
Condensed Consolidated Statements of Earnings
Provision for income taxes		353					353
Net income		$ (353)					$ (353)
Basic net income per share		$ (0.08)					$ (0.08)
Diluted net income per share		$ (0.08)					$ (0.08)

Foreign Currency Translation (D

Foreign Currency Translation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from external customers
Net sales	$ 68,911	$ 60,919	$ 207,074	$ 180,124
Foreign operations
Revenue from external customers
Net sales	$ 13,100	$ 5,000	$ 45,100	$ 16,600

Acquisition (Details)

Acquisition (Details) £ in Millions, $ in Millions	Nov. 06, 2020USD ($)	Nov. 06, 2020GBP (£)	Apr. 30, 2020USD ($)	Apr. 30, 2020CAD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Apr. 30, 2020CAD ($)
Acquisition of CDF Group Limited
Acquisition related costs					$ 0	$ 344,000	$ 0	$ 982,000
Interwork Group, Inc.
Acquisition of CDF Group Limited
Aggregate purchase price			$ 3,600,000	$ 5
Potential earn-out			$ 800,000						$ 1.1
Earn-out liability paid					$ 900,000
CDF Group Limited
Acquisition of CDF Group Limited
Aggregate purchase price	$ 17,400,000	£ 13.3

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 16,816
Translation adjustments	317
Ending Balance	$ 17,133

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other intangibles, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 11,091		$ 11,091		$ 10,915
Accumulated Amortization	955		955		290
Total	10,136		10,136		10,625
Amortization expense	200	$ 100	700	$ 100
Customer and vendor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,522		10,522		10,361
Accumulated Amortization	876		876		272
Total	9,646		9,646		10,089
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	517		517		504
Accumulated Amortization	31		31		5
Total	486		$ 486		499
Amortization period			15 years
Non-compete
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	52		$ 52		50
Accumulated Amortization	48		48		13
Total	$ 4		$ 4		$ 37
Amortization period			1 year
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization period			13 years
Vendor relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization period			11 years
Vendor relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization period			15 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Future amortization expense (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021 (excluding the nine months ended September 30, 2021)	$ 209
2022	820
2023	820
2024	820
2025	820
Thereafter	6,647
Total	$ 10,136	$ 10,625

Right-of-use Asset and Lease _3

Right-of-use Asset and Lease Liability (Details)	Sep. 30, 2021
Minimum
Right-of-use Asset and Lease Liability
Lease term	2 years
Maximum
Right-of-use Asset and Lease Liability
Lease term	11 years

Right-of-use Asset and Lease _4

Right-of-use Asset and Lease Liability - Operating lease information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Right-of-use Asset and Lease Liability
Cash paid for operating lease liabilities	$ 479	$ 248
Right-of-use assets obtained in exchange for new operating lease obligations	$ 38	$ 128
Weighted-average remaining lease term	5 years 4 months 24 days	6 years 6 months
Weighted-average discount rate	3.50%	3.30%

Right-of-use Asset and Lease _5

Right-of-use Asset and Lease Liability - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Maturities of lease liabilities
2021 (excluding the nine months ended September 30, 2021)	$ 119
2022	498
2023	534
2024	544
2025	554
Thereafter	676
Total	2,925
Less: imputed interest	(666)
Total lease liabilities	2,259
Lease liability, current portion	441	$ 490
Lease liability, net of current portion	$ 1,818	$ 2,167

Balance Sheet Detail (Details)

Balance Sheet Detail (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	$ 5,142		$ 5,142		$ 5,019
Less accumulated depreciation and amortization	(3,143)		(3,143)		(2,711)
Equipment and leasehold improvements, net	1,999		1,999		2,308
Depreciation and amortization expense	200	$ 100	$ 500	$ 300
Minimum
Equipment and leasehold improvements
Payment extension term to customers			12 months
Maximum
Equipment and leasehold improvements
Payment extension term to customers			36 months
Equipment
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	2,603		$ 2,603		2,482
Capitalized software
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	786		786		777
Leasehold improvements
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	$ 1,753		$ 1,753		$ 1,760

Balance Sheet Detail - Accounts

Balance Sheet Detail - Accounts receivable - long term, net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Detail
Undiscounted cash flows September 30, 2022	$ 1,000
Undiscounted cash flows September 30, 2023	100
Undiscounted cash flows September 30, 2024	100
Accounts receivable - long term
Total amount due from customer	644	$ 1,853
Less unamortized discount	(14)	(49)
Less current portion included in accounts receivable	(533)	(1,500)
Total of accounts receivable, long term, net	$ 97	$ 304

Balance Sheet Detail - Accoun_2

Balance Sheet Detail - Accounts payable and accrued expenses and AOCI (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts payable and accrued expenses
Trade accounts payable	$ 110,673	$ 107,045
Accrued expenses	7,599	9,647
Accounts payable and accrued expenses	$ 118,272	$ 116,692

Credit Facility (Details)

Credit Facility (Details)	Apr. 13, 2021GBP (£)	Nov. 15, 2017USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Uncommitted Credit Facility
Credit Facility
Maximum borrowing capacity | £	£ 8,000,000
Interest rate margin (as a percent)	1.85%
Borrowings outstanding			$ 0
Credit Facility
Credit Facility
Maximum borrowing capacity		$ 20,000,000
Debt Service Coverage Ratio		2
Leverage Ratio		2.5
Collateral Coverage Ratio		1.5
Borrowings outstanding			$ 0	$ 0
Credit Facility | Index
Credit Facility
Interest rate			2.50%
Interest rate margin (as a percent)		1.75%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income	$ 2,440	$ 1,791	$ 1,520	$ 530	$ 581	$ 836	$ 3,311	$ 5,751	$ 1,947
Less distributed and undistributed income allocated to participating securities	66			16				175	59
Net income attributable to common shareholders	$ 2,374			$ 514				$ 5,576	$ 1,888
Denominator:
Weighted average common shares (Basic)	4,282			4,218				4,263	4,306
Weighted average common shares including assumed conversions (Diluted)	4,282			4,218				4,263	4,306
Basic net income per share	$ 0.55	$ 0.41		$ 0.13			$ 0.76	$ 1.31	$ 0.44
Diluted net income per share	$ 0.55	$ 0.41		$ 0.13			$ 0.76	$ 1.31	$ 0.44

Major Customers and Vendors (De

Major Customers and Vendors (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021itemcustomer	Sep. 30, 2020customeritem	Sep. 30, 2021customeritem	Sep. 30, 2020customeritem	Dec. 31, 2020
Purchases | Vendor concentration risk
Significant Customers and Vendors
Number of vendors | item	2	2	2	2
Purchases | Vendor concentration risk | Major vendor one
Significant Customers and Vendors
Percentage of concentration risk	20.00%	21.00%	20.00%	20.00%
Purchases | Vendor concentration risk | Major vendor two
Significant Customers and Vendors
Percentage of concentration risk	9.00%	12.00%	9.00%	9.00%
Net sales | Customer concentration risk
Significant Customers and Vendors
Number of customers | customer	2	2	2	2
Net sales | Customer one | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk	21.00%	22.00%	22.00%	26.00%
Net sales | Customer two | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk	18.00%	12.00%	17.00%	14.00%
Net accounts receivable | Customer one | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk			16.00%		19.00%
Net accounts receivable | Customer two | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk			15.00%		9.00%

Stockholders' Equity and Stoc_3

Stockholders' Equity and Stock Based Compensation - Plans and options (Details) - $ / shares	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2018	May 31, 2018
Stock-based compensation
Common Stock, par value (in dollars per share)	$ 0.01		$ 0.01
2021 Plan
Stock-based compensation
Common Stock, par value (in dollars per share)		$ 0.01
Number of shares of common stock initially available for award		500,000
Options reserved for future issuance (in shares)	446,068
2012 Plan
Stock-based compensation
Number of shares of common stock initially available for award				1,000,000	600,000
Options reserved for future issuance (in shares)	0			352,158

Stockholders' Equity and Stoc_4

Stockholders' Equity and Stock Based Compensation - Nonvested (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)item$ / sharesshares	Sep. 30, 2020USD ($)itemshares
Weighted Average Grant Date Fair Value
Share-based compensation expense | $	$ 0.6	$ 0.6	$ 1.3	$ 1
Restricted stock
Shares
Nonvested shares at the beginning of the period | shares			122,792
Granted (in shares) | shares			106,122	134,165
Vested (in shares) | shares			(69,087)
Forfeited (in shares) | shares			(20,184)	(4,682)
Nonvested shares at the end of the period | shares	139,643		139,643
Number of equal quarterly installments for vesting of awards | item			16	16
Weighted Average Grant Date Fair Value
Nonvested shares at the beginning of period (in dollars per share) | $ / shares			$ 13.37
Granted (in dollars per share) | $ / shares			22.96
Vested (in dollars per share) | $ / shares			17.68
Forfeited (in dollars per share) | $ / shares			16.04
Nonvested shares at the end of period (in dollars per share) | $ / shares	$ 18.14		$ 18.14
Unrecognized compensation cost (in dollars) | $	$ 2.4		$ 2.4
Weighted average period for recognition of unrecognized compensation cost			3 years

Segment Information (Details)

Segment Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)item	Sep. 30, 2020USD ($)
Segment reporting information
Number of reportable operating segments | item			2
Revenue	$ 68,911,000	$ 60,919,000	$ 207,074,000	$ 180,124,000
Gross profit	11,319,000	7,237,000	33,140,000	22,515,000
Direct Costs	4,576,000	3,268,000	14,693,000	9,379,000
Segment Income Before Taxes	6,743,000	3,969,000	18,447,000	13,136,000
General and administrative	3,185,000	2,725,000	9,619,000	7,487,000
Legal and financial advisory expenses, net - unsolicited bid and related matters	0	(81,000)	0	1,752,000
Acquisition related costs	0	344,000	0	982,000
Amortization and depreciation expense	381,000	164,000	1,177,000	403,000
Interest, net	60,000	19,000	362,000	105,000
Foreign currency transaction (loss) gain	(41,000)	(67,000)	(107,000)	211,000
Income before provision for income taxes	3,196,000	769,000	7,906,000	2,828,000
Distribution Segment
Segment reporting information
Revenue	64,094,000	57,059,000	188,785,000	168,536,000
Gross profit	9,298,000	6,585,000	25,985,000	20,390,000
Direct Costs	3,484,000	2,993,000	11,073,000	8,387,000
Segment Income Before Taxes	5,814,000	3,592,000	14,912,000	12,003,000
Solutions Segment
Segment reporting information
Revenue	4,817,000	3,860,000	18,289,000	11,588,000
Gross profit	2,021,000	652,000	7,155,000	2,125,000
Direct Costs	1,092,000	275,000	3,620,000	992,000
Segment Income Before Taxes	$ 929,000	$ 377,000	$ 3,535,000	$ 1,133,000

Segment Information - Selected

Segment Information - Selected Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total Assets	$ 171,736	$ 165,533
Segment Select Assets
Segment Reporting Information [Line Items]
Total Assets	133,414	127,737
Corporate Assets
Segment Reporting Information [Line Items]
Total Assets	38,322	37,796
Distribution Segment | Segment Select Assets
Segment Reporting Information [Line Items]
Total Assets	113,441	106,930
Solutions Segment | Segment Select Assets
Segment Reporting Information [Line Items]
Total Assets	$ 19,973	$ 20,807

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 68,911	$ 60,919	$ 207,074	$ 180,124
Distribution Segment
Disaggregation of Revenue [Line Items]
Net sales	64,094	57,059	188,785	168,536
Solutions Segment
Disaggregation of Revenue [Line Items]
Net sales	4,817	3,860	18,289	11,588
USA
Disaggregation of Revenue [Line Items]
Net sales	55,774	57,410	161,983	164,978
USA | Distribution Segment
Disaggregation of Revenue [Line Items]
Net sales	53,744	53,857	152,789	154,727
USA | Solutions Segment
Disaggregation of Revenue [Line Items]
Net sales	2,030	3,553	9,194	10,251
Europe and United Kingdom
Disaggregation of Revenue [Line Items]
Net sales	8,238	1,748	26,778	6,283
Europe and United Kingdom | Distribution Segment
Disaggregation of Revenue [Line Items]
Net sales	5,789	1,748	18,758	6,283
Europe and United Kingdom | Solutions Segment
Disaggregation of Revenue [Line Items]
Net sales	2,449		8,020
Canada
Disaggregation of Revenue [Line Items]
Net sales	4,899	1,761	18,313	8,863
Canada | Distribution Segment
Disaggregation of Revenue [Line Items]
Net sales	4,561	1,454	17,238	7,526
Canada | Solutions Segment
Disaggregation of Revenue [Line Items]
Net sales	338	307	1,075	1,337
Company As Principal | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	61,084	56,370	184,215	165,951
Company As Principal | Distribution Segment | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	57,917	52,706	171,151	155,038
Company As Principal | Solutions Segment | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	3,167	3,664	13,064	10,913
Company As Agent | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	7,827	4,549	22,859	14,173
Company As Agent | Distribution Segment | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	6,177	4,353	17,634	13,498
Company As Agent | Solutions Segment | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	$ 1,650	$ 196	$ 5,225	$ 675

Segment Information - Assets (D

Segment Information - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	$ 171,736	$ 165,533
USA
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	110,114	114,126
Canada
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	20,649	18,514
Europe and United Kingdom
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	$ 40,973	$ 32,893

Related Party Transactions (Det

Related Party Transactions (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Sales to related party	$ 0.1	$ 0.1	$ 0.2	$ 0.1
Maximum
Due from related party	$ 0.1		$ 0.1		$ 0.1

Unsolicited Bid and Sharehold_2

Unsolicited Bid and Shareholder Demand (Details) - USD ($)	Apr. 23, 2020	Apr. 16, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Legal and financial advisory expenses			$ 0	$ (81,000)	$ 0	$ 1,752,000
Settlement Agreement with Mr. Nynens and the N&W Group
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares repurchased	261,631	261,631
Market value (in dollars per share)	$ 13.19
Shares repurchased (Percentage)	5.80%
Shares repurchased amount	$ 3,500,000