Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Financial Results, Significant Non-Cash Items and Capital Expenditures and Carrying Value of Assets and Liabilities of Discontinued Operations

The following summarizes the components of the gain on sale of the Physical Security Business, net of taxes (in thousands):

Cash proceeds	$	144,262
Net working capital adjustment		(408	)
Net cash proceeds		143,854
Assets sold:
Cash		868
Accounts receivable		11,610
Inventories		15,969
Prepaid expenses and other current assets		1,640
Property and equipment		861
Other assets		2,963
Total assets sold		33,911
Liabilities divested:
Accounts payable		4,179
Deferred revenue		3,579
Other accrued expenses and liabilities		718
Other liabilities		2,482
Total liabilities divested		10,958
Other:
Goodwill written off related to sale of Physical Security Business		(10,196	)
Intangible assets written off related to sale of Physical Security Business		(3,595	)
Transaction and other costs		(676	)
Total other		(14,467	)
Income tax provision		2,925
Gain on sale of Physical Security Business, net of taxes	$	103,509

The following presents the financial results of discontinued operations (in thousands):

	Year Ended December 31,
	2024			2023
Net revenue	$	42,473		$	72,938
Cost of revenue		22,825			36,784
Gross profit		19,648			36,154
Operating expenses:
Research and development		6,514			7,191
Selling and marketing		11,960			16,928
General and administrative		3,741			3,028
Restructuring and severance		145			557
Total operating expenses		22,360			27,704
Income (loss) from operations		(2,712	)		8,450
Non-operating income (expense):
Foreign currency gains (losses), net		(25	)		35
Income (loss) before income tax benefit (provision)		(2,737	)		8,485
Income tax provision		(41	)		(99	)
Net income (loss)	$	(2,778	)	$	8,386

The following presents the significant non-cash items and capital expenditures related to discontinued operations (in thousands):

	Year Ended December 31,
	2024		2023
Depreciation and amortization	$	892	$	1,420
Capital expenditures		322		521
Stock-based compensation		5,254		1,902

The carrying value of the assets and liabilities of the discontinued operations on the consolidated balance sheet as of December 31, 2023 were as follows (in thousands):

	December 31, 2023
ASSETS
Accounts receivable, net	$	14,795
Inventories		16,063
Prepaid expenses and other current assets		2,251
Total current assets held-for-sale	$	33,109
Property and equipment, net	$	848
Operating lease right-of-use assets		2,925
Intangible assets, net		4,251
Goodwill		10,218
Other assets		556
Total long-term assets held-for-sale	$	18,798
LIABILITIES
Accounts payable	$	6,805
Operating lease liabilities		932
Deferred revenue		2,341
Accrued compensation and related benefits		958
Accrued income taxes payable		161
Other accrued expenses and liabilities		1,012
Total current liabilities held-for-sale	$	12,209
Long-term operating lease liabilities	$	2,209
Long-term deferred revenue		927
Total long-term liabilities held-for-sale	$	3,136

Schedule of Performance Obligation

Performance Obligation	When Performance Obligation is Typically Satisfied	When Payment is Typically Due	How Standalone Selling Price is Typically Estimated
Hardware products	When customer obtained control of the product (point-in-time)	Within 30-60 days of shipment	Observable in transactions without multiple performance obligations
Software licenses	When license was delivered to customer or made available for download, and the applicable license period had begun (point-in-time)	Within 30-60 days of the beginning of license period	Established pricing practices for software licenses bundled with software maintenance, which were separately observable in renewal transactions
Subscriptions	Ratably over the course of the subscription term (over time)	In advance of subscription term	Contractually stated or list price
Professional services	As services were performed and/or when contract was fulfilled (point-in-time)	Within 30-60 days of delivery	Observable in transactions without multiple performance obligations
Software maintenance and support services	Ratably over the course of the support contract (over time)	Within 30-60 days of the beginning of the contract period	Observable in renewal transactions
Extended hardware warranties	Ratably over the course of the support contract (over time)	Within 30-60 days of the beginning of the contract period	Observable in renewal transactions