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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 18,473 $ 30,988
Accounts receivable, net of allowance of $581 and $890 at December 31, 2015 and 2014, respectively 13,972 14,559
Prepaid and other 2,603 2,069
Total current assets 35,048 47,616
Canadian tax credits receivable 2,018 3,959
Property and equipment, net 6,001 3,930
Intangible assets, net 31,526 34,751
Goodwill 47,422 45,146
Other assets 399 284
Total assets 122,414 135,686
Current liabilities:    
Accounts payable 2,548 2,258
Accrued compensation 2,441 2,372
Accrued expenses and other 5,173 4,304
Deferred revenue 19,931 21,182
Due to seller 2,409 4,365
Current maturities of notes payable (includes unamortized discount of $250 and $38 at December 31, 2015 and 2014, respectively, based on imputed interest rate of 6.6%) 1,500 10,964
Total current liabilities $ 34,002 $ 45,445
Commitments and contingencies (Note 9)
Canadian tax credit liability to sellers $ 368 $ 1,616
Notes payable, less current maturities (includes unamortized discount of $758 and $117 at December 31, 2015 and 2014, respectively, based on imputed interest rate of 6.6%) 22,366 12,327
Deferred revenue 8 194
Noncurrent deferred tax liability, net 2,818 3,006
Other long-term liabilities 2,582 1,701
Total liabilities 62,144 64,289
Stockholders’ equity (deficit):    
Common stock, $0.0001 par value; 50,000,000 shares authorized: 15,746,288 and 15,249,118 shares issued and outstanding as of December 31, 2015 and 2014 respectively 2 2
Additional paid-in capital 112,447 108,337
Accumulated other comprehensive loss (3,289) (1,716)
Accumulated deficit (48,890) (35,226)
Total stockholders’ equity (deficit) 60,270 71,397
Total liabilities and stockholders’ equity $ 122,414 $ 135,686