$ACCS

ISSUER DIRECT CORP

CIK:0000843006|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 5,618	$ 5,621	$ 10,945	$ 11,097
Cost of revenues	1,506	1,336	2,882	2,539
Gross profit	4,112	4,285	8,063	8,558
Operating costs and expenses:
General and administrative	1,350	1,752	3,131	3,705
Sales and marketing expenses	1,889	1,462	3,570	3,056
Product development	533	655	1,093	1,388
Depreciation and amortization	647	665	1,294	1,335
Total operating costs and expenses	4,419	4,534	9,088	9,484
Operating loss	(307)	(249)	(1,025)	(926)
Interest income (expense), net	(39)	11	(77)	(193)
Other income (expense), net	45	(10)	69	(79)
Income (loss) before taxes	(301)	(248)	(1,033)	(1,198)
Income tax expense (benefit)	53	(9)	(68)	(194)
Net loss from continuing operations	(354)	(239)	(965)	(1,004)
Net income (loss) from discontinued operations, net of tax	(128)	(236)	(128)	5,916
Net income (loss)	$ (482)	$ (475)	$ (1,093)	$ 4,912
Loss from continuing operations per share – basic	$ (0.09)	$ (0.06)	$ (0.25)	$ (0.26)
Loss from continuing operations per share – fully diluted	(0.09)	(0.06)	(0.25)	(0.26)
Income from discontinued operations per share – basic	(0.03)	(0.06)	(0.03)	1.54
Income from discontinued operations per share – fully diluted	(0.03)	(0.06)	(0.03)	1.54
Income (loss) per share – basic	(0.12)	(0.12)	(0.28)	1.28
Income (loss) per share – fully diluted	$ (0.12)	$ (0.12)	$ (0.28)	$ 1.28
Weighted average number of common shares outstanding – basic	3,862	3,856	3,857	3,849
Weighted average number of common shares outstanding – fully diluted	3,862	3,857	3,857	3,850

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (1,093)	$ 4,912
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Gain on disposal of business	192	(8,974)
Depreciation and amortization	1,432	1,509
Provision for credit losses	268	976
Change in fair value of interest rate swap	(19)	78
Deferred income taxes	(167)	(415)
Stock-based compensation expense	410	469
Non-cash interest expense	9	9
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable	155	(680)
Decrease (increase) in other assets	264	226
Increase (decrease) in accounts payable	67	131
Increase (decrease) in income tax payable	(98)	2,626
Increase (decrease) in accrued expenses and other liabilities	(221)	341
Increase (decrease) in deferred revenue	(155)	(326)
Net cash provided by operating activities	1,044	882
Cash flows from investing activities:
Proceeds from Sale of Compliance Business	0	12,000
Capitalized software	(209)	(23)
Purchase of fixed assets	(22)	(12)
Net cash provided by (used in) investing activities	(231)	11,965
Cash flows from financing activities:
Payment of principal of Note Payable	(435)	(12,957)
Payment for stock repurchase and retirement	(331)	0
Net cash used in financing activities	(766)	(12,957)
Net change in cash and cash equivalents	47	(110)
Cash and cash equivalents – beginning	3,025	4,103
Currency translation adjustment	(110)	118
Cash and cash equivalents – ending	2,962	4,111
Supplemental disclosures:
Cash paid for income taxes	155	387
Cash paid for interest	$ 76	$ 317

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 2,962,000	$ 3,025,000
Accounts receivable (net of allowance for credit losses of $1,452 and $1,336, respectively)	3,450,000	3,884,000
Income tax receivable	33,000	0
Other current assets	1,172,000	1,513,000
Total current assets	7,617,000	8,422,000
Capitalized software (net of accumulated amortization of $4,061 and $3,923, respectively)	899,000	828,000
Fixed assets (net of accumulated depreciation of $723 and $669, respectively)	103,000	136,000
Right-of-use asset – leases	243,000	324,000
Other long-term assets	37,000	73,000
Goodwill	19,043,000	19,043,000
Intangible assets (net of accumulated amortization of $10,765 and $9,525, respectively)	8,235,000	9,475,000
Deferred tax asset	3,865,000	3,691,000
Total assets	40,042,000	41,992,000
Current liabilities:
Accounts payable	1,566,000	1,501,000
Accrued expenses	1,725,000	1,769,000
Income tax payable	65,000	133,000
Current portion of Notes payable	870,000	870,000
Deferred revenue	5,072,000	5,265,000
Total current liabilities	9,298,000	9,538,000
Long-term debt (net of debt discount of $43 and $52, respectively)	1,260,000	1,686,000
Deferred tax liability	92,000	86,000
Interest rate swap liability	1,000	20,000
Lease liabilities – long-term	137,000	317,000
Total liabilities	10,788,000	11,647,000
Stockholders’ equity:
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively.	0	0
Common stock $0.001 par value, 20,000,000 shares authorized, 3,854,504 and 3,850,435 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	4,000	4,000
Additional paid-in capital	25,085,000	25,005,000
Other accumulated comprehensive loss	(174,000)	(96,000)
Retained earnings	4,339,000	5,432,000
Total stockholders’ equity	29,254,000	30,345,000
Total liabilities and stockholders’ equity	$ 40,042,000	$ 41,992,000