XML 34 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Summary of Pro Forma Statements of Operations
The table below shows the Pro forma statements of operations data for the three and six months ended June 30, 2018 and June 30, 2017 (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Revenue
$
35,946

 
$
28,127

 
$
67,561

 
$
53,262

Loss from continuing operations (1)
$
(5,230
)
 
$
(3,512
)
 
$
(8,391
)
 
$
(8,023
)
(1) While some recurring adjustments impact the pro forma figures presented, the decrease in pro forma loss from continuing operations compared to our loss from continuing operations presented on the consolidated statements of operations for the three and six months ended June 30, 2018 and June 30, 2017 includes nonrecurring adjustments removing acquisition costs from 2017 and reflects these costs in the year ended 2016, the year the acquisition was assumed to be completed for pro forma purposes.
Schedule of Assets and Liabilities Assumed Through Acquisition
The following condensed table presents the preliminary and finalized acquisition-date fair value of the assets acquired and liabilities assumed for the acquisitions in 2017 and through the six months ended June 30, 2018, as well as assets and liabilities (in thousands):
 
Preliminary
 
Finalized
 
RO Innovation
 
Interfax
 
Qvidian
 
Waterfall
 
RightAnswers
 
Omtool
Year Acquired
2018
 
2018
 
2017
 
2017
 
2017
 
2017
 
 
 
 
 
 
 
 
 
 
 
 
Cash
$
1,427

 
$
2,675

 
$
468

 
$
100

 
$
139

 
$
2,957

Accounts receivable
1,807

 
1,713

 
1,907

 
1,477

 
2,164

 
784

Other current assets
22

 
—

 
334

 
608

 
246

 
464

Property and equipment
51

 
286

 
108

 
23

 
408

 
58

Customer relationships
8,596

 
21,093

 
30,160

 
6,400

 
10,500

 
4,400

Trade name
65

 
638

 
227

 
110

 
180

 
170

Technology
1,636

 
4,360

 
5,739

 
2,800

 
2,300

 
3,180

Goodwill
3,170

 
16,141

 
21,225

 
18,575

 
15,680

 
14,081

Other assets
—

 
14

 
8

 
—

 
—

 
33

Total assets acquired
16,774

 
46,920

 
60,176

 
30,093

 
31,617

 
26,127

Accounts payable
(232
)
 
(737
)
 
(388
)
 
(605
)
 
(139
)
 
(219
)
Accrued expense and other
(679
)
 
(3,122
)
 
(399
)
 
(1,136
)
 
(2,108
)
 
(915
)
Deferred tax liabilities
—

 
(3,061
)
 
—

 
—

 
—

 
—

Deferred revenue
(1,613
)
 
—

 
(9,389
)
 
(1,220
)
 
(5,479
)
 
(2,779
)
Total liabilities assumed
(2,524
)
 
(6,920
)
 
(10,176
)
 
(2,961
)
 
(7,726
)
 
(3,913
)
Total consideration
$
14,250

 
$
40,000

 
$
50,000

 
$
27,132

 
$
23,891

 
$
22,214