Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations

The following table presents information related to the major classes of assets and liabilities of Cloudbreak that were classified as held for sale in our unaudited condensed consolidated balance sheets (in thousands):

(In thousands)	March 14, 2024		December 31, 2023
Current assets:
Accounts receivable, net	$	16,453	$	14,655
Prepaid expenses and other current assets	908		942
Assets held for sale, current	17,361		15,597
Property and equipment, net	8,463		8,823
Operating lease right-of-use assets	1,436		1,532
Intangible assets, net	21,891		22,717
Goodwill	80,310		80,310
Other assets	108		168
Assets held for sale, noncurrent	112,208		113,550
Total assets held for sale	$	129,569	$	129,147
Current liabilities:
Accounts payable	$	4,069	$	4,834
Accrued expenses	3,287		2,358
Deferred revenue	39		48
Lease liabilities, current	3,108		3,339
Liabilities held for sale, current	10,503		10,579
Lease liabilities, noncurrent	2,133		2,663
Liabilities held for sale, noncurrent	2,133		2,663
Total liabilities held for sale	$	12,636	$	13,242

The following table presents information related to the major classes of line items constituting the net income from discontinued operations, net of tax, in our unaudited condensed consolidated statements of operations (in thousands):

(In thousands)	Period from January 1 to March 14, 2024		Three Months Ended March 31, 2023
Revenues:
Services	$	15,168	$	17,328
Products	68		130
Total revenues	15,236		17,458
Costs of revenues:
Services	6,840		7,226
Licenses and subscriptions	4		—
Products	114		47
Total costs of revenues	6,958		7,273
Gross profit	8,278		10,185
Operating expenses:
Sales and marketing	1,444		2,092
Research and development	253		242
General and administrative	1,301		456
Depreciation and amortization	959		1,086
Stock compensation expense	—		8
Acquisition, integration, and transformation costs	—		46
Total operating expenses	3,957		3,930
Income from operations	4,321		6,255
Other income (expense):
Gain on sale of business	53,104		—
Other expense, net, including interest income	(202)		(157)
Total other income (expense)	52,902		(157)
Income from discontinued operations before income taxes	57,223		6,098
Income tax expense	(19,923)		—
Net income from discontinued operations, net of tax	$	37,300	$	6,098