2020 Q4 Form 10-K Financial Statement

#000074621021000024 Filed on March 30, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $15.33M $15.33M $5.420M
YoY Change 182.9% 19.54% 89.51%
Cost Of Revenue $1.600M $7.280M $2.530M
YoY Change -36.76% -2.02% 47.09%
Gross Profit $8.053M $8.053M $2.900M
YoY Change 177.69% 49.13% 154.39%
Gross Profit Margin 52.52% 52.52% 53.51%
Selling, General & Admin $2.240M $10.12M $4.290M
YoY Change -47.79% 38.33% 182.24%
% of Gross Profit 27.82% 125.62% 147.93%
Research & Development $650.0K $3.711M $1.370M
YoY Change -52.55% 83.44% 495.65%
% of Gross Profit 8.07% 46.08% 47.24%
Depreciation & Amortization $750.0K $3.140M $860.0K
YoY Change -12.79% 137.7% 437.5%
% of Gross Profit 9.31% 38.99% 29.66%
Operating Expenses $3.620M $13.83M $5.656M
YoY Change -36.0% 48.1% 196.13%
Operating Profit -$10.06M -$10.06M -$2.756M
YoY Change 265.17% 32.88% 257.92%
Interest Expense -$50.00K -$370.0K -$100.0K
YoY Change -50.0% 270.0% -200.0%
% of Operating Profit
Other Income/Expense, Net $2.746M $2.746M -$90.00K
YoY Change -3151.11% -1568.45% -66.67%
Pretax Income -$7.318M -$7.318M -$5.650M
YoY Change 29.52% -5.71% 108.49%
Income Tax $103.0K $103.0K
% Of Pretax Income
Net Earnings -$7.421M -$7.421M -$5.650M
YoY Change 31.35% -4.38% 107.72%
Net Earnings / Revenue -48.4% -48.4% -104.24%
Basic Earnings Per Share -$1.48
Diluted Earnings Per Share $183.8K -$1.48 -$1.119M
COMMON SHARES
Basic Shares Outstanding 6.286M shares 5.547M shares 5.141M shares
Diluted Shares Outstanding 5.547M shares

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.100M $5.100M $4.600M
YoY Change 10.87% 10.87% 130.0%
Cash & Equivalents $5.277M $4.602M
Short-Term Investments
Other Short-Term Assets $28.00K $900.0K $209.0K
YoY Change -86.6% -10.0%
Inventory $920.0K $900.0K $1.816M
Prepaid Expenses $663.0K
Receivables $3.166M $3.200M $2.543M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.993M $10.00M $9.926M
YoY Change 0.67% 1.01% 152.89%
LONG-TERM ASSETS
Property, Plant & Equipment $573.0K $1.500M $1.316M
YoY Change -56.46% -65.91% 80.77%
Goodwill $7.367M $7.908M
YoY Change -6.84% 182.93%
Intangibles $10.14M $12.57M
YoY Change -19.34% 2419.44%
Long-Term Investments
YoY Change
Other Assets $167.0K $200.0K $70.00K
YoY Change 138.57% 100.0% 366.67%
Total Long-Term Assets $19.15M $19.10M $24.98M
YoY Change -23.35% -23.6% 518.85%
TOTAL ASSETS
Total Short-Term Assets $9.993M $10.00M $9.926M
Total Long-Term Assets $19.15M $19.10M $24.98M
Total Assets $29.14M $29.10M $34.91M
YoY Change -16.52% -16.62% 338.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $313.0K $300.0K $647.0K
YoY Change -51.62% -50.0% 191.44%
Accrued Expenses $1.201M $2.000M $1.752M
YoY Change -31.45% -33.33% 102.08%
Deferred Revenue $1.217M $1.901M
YoY Change -35.98% 4320.93%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.014M $2.000M $2.664M
YoY Change -24.4% -25.93%
Total Short-Term Liabilities $5.575M $5.600M $8.258M
YoY Change -32.49% -32.53% 629.51%
LONG-TERM LIABILITIES
Long-Term Debt $403.0K $400.0K $2.843M
YoY Change -85.82% -85.71%
Other Long-Term Liabilities $0.00 $1.100M $3.000K
YoY Change -100.0% -45.0%
Total Long-Term Liabilities $1.511M $1.500M $4.866M
YoY Change -68.95% -68.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.575M $5.600M $8.258M
Total Long-Term Liabilities $1.511M $1.500M $4.866M
Total Liabilities $7.086M $7.100M $13.12M
YoY Change -46.01% -45.8% 1059.36%
SHAREHOLDERS EQUITY
Retained Earnings -$192.9M -$185.4M
YoY Change 4.0% 4.37%
Common Stock $215.1M $207.4M
YoY Change 3.72% 12.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $181.0K $165.0K
YoY Change 9.7% -66.73%
Treasury Stock Shares 113.0K shares 105.0K shares
Shareholders Equity $22.06M $22.10M $21.79M
YoY Change
Total Liabilities & Shareholders Equity $29.14M $29.10M $34.91M
YoY Change -16.52% -16.62% 338.45%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$7.421M -$7.421M -$5.650M
YoY Change 31.35% -4.38% 107.72%
Depreciation, Depletion And Amortization $750.0K $3.140M $860.0K
YoY Change -12.79% 137.7% 437.5%
Cash From Operating Activities -$2.240M -$6.566M -$2.580M
YoY Change -13.18% 101.84% 369.09%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $38.00K -$30.00K
YoY Change 0.0% -15.56% 0.0%
Acquisitions
YoY Change
Other Investing Activities $10.00K $10.00K $2.190M
YoY Change -99.54% -99.54%
Cash From Investing Activities -$20.00K -$31.00K $2.170M
YoY Change -100.92% -101.44% -7333.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$7.371M
YoY Change -14552.94%
Debt Paid & Issued, Net $2.500M
YoY Change
Cash From Financing Activities 4.870M $7.272M 3.750M
YoY Change 29.87% 96.59%
NET CHANGE
Cash From Operating Activities -2.240M -$6.566M -2.580M
Cash From Investing Activities -20.00K -$31.00K 2.170M
Cash From Financing Activities 4.870M $7.272M 3.750M
Net Change In Cash 2.610M $675.0K 3.340M
YoY Change -21.86% -73.99% -675.86%
FREE CASH FLOW
Cash From Operating Activities -$2.240M -$6.566M -$2.580M
Capital Expenditures -$30.00K $38.00K -$30.00K
Free Cash Flow -$2.210M -$6.604M -$2.550M
YoY Change -13.33% 100.24% 390.38%

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CY2019 us-gaap Increase Decrease In Accounts Payable
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CY2019 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2019 us-gaap Increase Decrease In Contract With Customer Liability
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CY2019 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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3750000 USD
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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2595000 USD
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5277000 USD
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4602000 USD
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5277000 USD
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4602000 USD
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CY2020 us-gaap Nature Of Operations
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Business Description and Significant Accounting Policies <div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Description</span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Oblong, Inc. (“Oblong” or “we” or “us” or the “Company”) was formed as a Delaware corporation in May 2000 and is a provider of patented multi-stream collaboration technologies and managed services for video collaboration and network applications. Prior to March 6, 2020, Oblong, Inc. was named Glowpoint, Inc. (“Glowpoint”). On March 6, 2020, Glowpoint changed its name to Oblong, Inc.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 1, 2019, the Company closed an acquisition of all of the outstanding equity interest of Oblong Industries, Inc., a privately held Delaware corporation founded in 2006 (“Oblong Industries”); see further discussion in </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 3 - Oblong Industries Acquisition</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Principles of Consolidation</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements include the accounts of Oblong and our 100%-owned subsidiaries (i) GP Communications, LLC (“GP Communications”), whose business function is to provide interstate telecommunications services for regulatory purposes, (ii) Oblong Industries, Inc., and (iii) the following subsidiaries of Oblong Industries: Oblong Industries Europe, S.L. and Oblong Europe Limited. All inter-company balances and transactions have been eliminated in consolidation. The U.S. Dollar is the functional currency for all subsidiaries.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Segments</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the acquisition of Oblong Industries on October 1, 2019, the Company operated in one segment. Effective October 1, 2019, the former businesses of Glowpoint, Inc. (now Oblong, Inc.) and Oblong Industries were managed separately and involve different products and services. Accordingly, the Company currently operates in two segments: 1) the Oblong, Inc. (formerly Glowpoint) business which mainly consists of managed services for video collaboration and network and 2) the Oblong Industries business which consists of products and services for visual collaboration technologies. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 15 - Segment Reporting</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for further discussion.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates made. We continually evaluate estimates used in the preparation of our consolidated financial statements for reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. The significant areas of estimation include determining the allowance for doubtful accounts, the estimated lives and recoverability of property and equipment, and intangible assets, the inputs used in the valuation of goodwill and intangible assets in connection with our impairment tests, the inputs used in the fair value of equity based awards as well as the values ascribed to assets acquired and liabilities assumed in the business combination. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Restricted Cash</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2020, our total cash balance was $5,277,000, consisting of available cash of $5,058,000, current restricted cash of $158,000, and $61,000 in long-term restricted cash. The long-term restricted cash is included in our other assets on our consolidated balance sheet. The restricted cash pertains to two letters of credit that serve as the security deposit for our leased office space in Munich, Germany and our leased office space in Los Altos, California (as discussed in </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 16 - Commitments and Contingencies</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), and is secured by an equal amount of cash pledged as collateral, and such cash is held in a restricted bank account. As of February 28, 2021, the lease and the letter of credit ($158,000) for the Los Altos office space expired.</span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Allowance for Doubtful Accounts</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We perform ongoing credit evaluations of our customers. We record an allowance for doubtful accounts based on specifically identified amounts that are believed to be uncollectible. We also record additional allowances based on our aged receivables, which are determined based on historical experience and an assessment of the general financial conditions affecting our customer base. If our actual collections experience changes, revisions to our allowance may be required. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. We do not obtain collateral from our customers to secure accounts receivable. The allowance for doubtful accounts was $182,000 and $19,000 at December 31, 2020 and 2019, respectively. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Inventory</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventory consists of finished goods and was determined using average costs and was stated at the lower of cost or net realizable value. The Company periodically performs analyses to identify obsolete or slow-moving inventory, and as of December 31, 2020, the Company has recorded an reserve for obsolescence of $193,000. There was no corresponding reserve for 2019.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fair Value of Financial Instruments</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company considers its cash, accounts receivable, accounts payable and debt obligations to meet the definition of financial instruments. The carrying amount of cash, accounts receivable and accounts payable approximated their fair value due to the short maturities of these instruments. The carrying amounts of our debt obligations (see </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 10 - Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) approximate their fair values, which are based on borrowing rates that are available to the Company for loans with similar terms, collateral, and maturity. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company measures fair value as required by Accounting Standards Codification (“ASC”) Topic 820</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">“Fair Value Measurements and Disclosures”</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC Topic 820”).  ASC Topic 820 defines fair value, establishes a framework and gives guidance regarding the methods used for measuring fair value, and expands disclosures about fair value measurements. ASC Topic 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, there exists a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="padding-left:45pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Level 1 - unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. </span></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:45pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Level 2 - inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. </span></div><div style="padding-left:45pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Level 3 - unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value.  </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenue Recognition</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606. </span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes revenue using the five-step model as prescribed by Topic 606:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">Identification of the contract, or contracts, with a customer;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">Identification of the distinct performance obligations in the contract;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">Determination of the transaction price;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">Allocation of the transaction price to the performance obligations in the contract; and</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">Recognition of revenue when or as the Company satisfies a performance obligation.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Oblong’s (formerly Glowpoint) managed videoconferencing services are offered to our customers on either a usage basis or on a subscription. Our network services are offered to our customers on a subscription basis. Revenue for these services is generally recognized on a monthly basis as services are performed. Revenue related to professional services is recognized at the time the services are performed. The costs associated with obtaining a customer contract were previously expensed in the period they were incurred. Under Topic 606, these payments are deferred on our consolidated balance sheet and amortized over the expected life of the customer contract. Deferred revenue as of December 31, 2020 totaled $27,000 as certain performance obligations were not satisfied as of this date. During the year ended December 31, 2020, the Company recorded $21,000 of revenue that was included in deferred revenue as of December 31, 2019. During the year ended December 31, 2019, the Company recorded $32,000 of revenue that was included in deferred revenue as of December 31, 2018. </span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Oblong Industries’ visual collaboration products are composed of hardware and embedded software sold as a complete package, and generally include installation and maintenance services. Revenue for hardware and software is recognized upon shipment to the customer. Installation revenue is recognized upon completion of installation, which also triggers the beginning of recognition of revenue for maintenance services which range from one to three years. Revenue is recognized over time for maintenance services. Professional services are contracts with specific customers for software development, visual design, interaction design, engineering, and project support. These contracts vary in length, and revenue is recognized over time as services are rendered. Licensing agreements are for the Company’s core technology platform, g-speak, and are generally one year in length. Revenue for these services is recognized ratably over the service period. Upon adoption of Topic 606, Oblong Industries was not required to adjust its revenue recognition methodology, as recognition was deemed to be in-line with the five-step model. Deferred revenue as of December 31, 2020 totaled $1,696,000 as certain performance obligations were not satisfied as of this date. During the year ended December 31, 2020, the Company recorded $978,000 of revenue that was included in deferred revenue as of December 31, 2019. During the three months ended December 31, 2019, the Company recorded $352,000 of revenue that was included in deferred revenue as of the date of the merger. </span></div><div style="text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company disaggregates its revenue by geographic region. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 15 - Segment Reporting</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for more information.</span></div><div style="text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Taxes Billed to Customers and Remitted to Taxing Authorities</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We recognize taxes billed to customers in revenue and taxes remitted to taxing authorities in our cost of revenue. For the years ended December 31, 2020 and 2019, we included taxes of $313,000 and $390,000, respectively, in revenue and we included taxes of $328,000 and $390,000, respectively, in cost of revenue.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Impairment of Long-Lived Assets, Goodwill and Intangible Assets</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company assesses the impairment of long-lived assets used in operations, primarily fixed assets and purchased intangible assets subject to amortization when events and circumstances indicate that the carrying value of the assets might not be recoverable. For purposes of evaluating the recoverability of fixed assets and amortizing intangible assets, the undiscounted cash flows estimated to be generated by those assets are compared to the carrying amounts of those assets. If and when the carrying values of the assets exceed the undiscounted cash flow, then the related assets will be written down to fair value. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the years ended December 31, 2020 and 2019, the Company recorded asset impairment charges on property and equipment of $144,000 and $63,000, which pertained primarily to assets no longer used in the business. During the year ended December 31, 2020, the Company disposed of fixed assets of $3,438,000, and the corresponding accumulated depreciation of $3,287,000, which resulted in a loss on disposal of $151,000. There were no impairments to purchased intangible assets for the years ended December 31, 2020 and 2019.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2020, the Company recorded aggregate impairment charges of $465,000 on two right-of-use assets. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 16 - Commitments and Contingencies </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">for further discussion. There were no impairments to right-of-use assets for the year ended December 31, 2019.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is not amortized but is subject to periodic testing for impairment in accordance with ASC Topic 350 “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles - Goodwill and Other - Testing Indefinite-Lived Intangible Assets for Impairment”</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC Topic 350”). During the years ended December 31, 2020 and 2019, the Company recorded impairment charges on goodwill of $541,000 and $2,254,000, respectively. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 7 - Goodwill</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 8 - Intangible Assets</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) for further discussion.</span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash, and trade accounts receivable. We place our cash primarily in commercial checking accounts. Commercial bank balances may from time to time exceed federal insurance limits. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Property and Equipment</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment are stated at cost and are depreciated over the estimated useful lives of the related assets, which range from <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjA1OTZmMmU3NjdhZTQ4M2U4YWU2MTAxZjZlODc0MTM5L3NlYzowNTk2ZjJlNzY3YWU0ODNlOGFlNjEwMWY2ZTg3NDEzOV8xMjEvZnJhZzowZWIyOThhM2E4Nzc0NGUwYjBkNDBjYjg3YTUyN2I4YS90ZXh0cmVnaW9uOjBlYjI5OGEzYTg3NzQ0ZTBiMGQ0MGNiODdhNTI3YjhhXzEzMDYw_0a054dd4-c061-43b2-99a8-b8cc1f28e23c">three</span> to ten years. Leasehold improvements are amortized over the shorter of either the asset’s useful life or the related lease term. Depreciation is computed on the straight-line method for financial reporting purposes.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Income Taxes</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We use the asset and liability method to determine our income tax expense or benefit. Deferred tax assets and liabilities are computed based on temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates that are expected to be in effect when the differences are expected to be recovered or settled. Any resulting net deferred tax assets are evaluated for recoverability and, accordingly, a valuation allowance is provided when it is more likely than not that all or some portion of the deferred tax asset will not be realized. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Stock-based Compensation</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stock-based awards have been accounted for as required by ASC Topic 718 </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">“Compensation – Stock Compensation”</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC Topic 718”). Under ASC Topic 718 stock-based awards are valued at fair value on the date of grant, and that fair value is recognized over the requisite service period. The Company accounts for forfeitures when they occur.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Research and Development</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Research and development expenses include internal and external costs related to developing new service offerings and features and enhancements to our existing services. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treasury Stock</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchases and sales of treasury stock are accounted for using the cost method. Under this method, shares acquired are recorded at the acquisition price directly to the treasury stock account. Upon sale, the treasury stock account is reduced by the original acquisition price of the shares and any difference is recorded in additional paid in capital, on a first-in first-out basis. The Company does not recognize a gain or loss to income from the purchase and sale of treasury stock. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recent Accounting Pronouncements</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Recently Issued Accounting Pronouncements</span></div><div style="text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Credit Losses</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2016 the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326),” which was subsequently amended in February 2020 by ASU 2020-02, “Financial Instruments - Credit Losses (Topic 326) and Leases (Topic 842).” The amendments introduce an impairment model that is based on expected credit losses, rather than incurred losses, to estimate credit losses on certain types of financial instruments (e.g., loans and held-to-maturity securities), including certain off-balance sheet financial instruments (e.g., loan commitments). The expected credit losses should consider historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments, over the contractual term. Financial instruments with similar risk characteristics may be grouped together when estimating expected credit losses. The update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact the new guidance will have on its consolidated financial statements.</span></div>
CY2020Q4 glow Subsidiary Investee Ownership Percentageby Parent
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1
us-gaap Number Of Operating Segments
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1 segment
CY2020Q4 us-gaap Number Of Operating Segments
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2 segment
CY2020 us-gaap Use Of Estimates
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Use of EstimatesPreparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates made. We continually evaluate estimates used in the preparation of our consolidated financial statements for reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. The significant areas of estimation include determining the allowance for doubtful accounts, the estimated lives and recoverability of property and equipment, and intangible assets, the inputs used in the valuation of goodwill and intangible assets in connection with our impairment tests, the inputs used in the fair value of equity based awards as well as the values ascribed to assets acquired and liabilities assumed in the business combination.
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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5277000 USD
CY2020Q4 us-gaap Cash
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5058000 USD
CY2020Q4 us-gaap Restricted Cash Current
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158000 USD
CY2020Q4 us-gaap Restricted Cash Noncurrent
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182000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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19000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
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193000 USD
CY2019Q4 us-gaap Inventory Valuation Reserves
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0 USD
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
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144000 USD
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
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63000 USD
CY2020 us-gaap Property Plant And Equipment Disposals
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3438000 USD
CY2020 us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
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3287000 USD
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-151000 USD
CY2020 us-gaap Operating Lease Impairment Loss
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465000 USD
CY2019 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 USD
CY2020 us-gaap Goodwill Impairment Loss
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541000 USD
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
2254000 USD
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Concentration of Credit RiskFinancial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash, and trade accounts receivable. We place our cash primarily in commercial checking accounts. Commercial bank balances may from time to time exceed federal insurance limits.
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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5277000 USD
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
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P1Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
4.92
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.015
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
2.17
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y
CY2019 us-gaap Business Acquisitions Pro Forma Revenue
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25586000 USD
CY2019 us-gaap Business Acquisitions Pro Forma Net Income Loss
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20196000 USD
CY2020Q4 us-gaap Inventory Net
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920000 USD
CY2019Q4 us-gaap Inventory Net
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1816000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
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193000 USD
CY2020Q4 us-gaap Other Prepaid Expense Current
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663000 USD
CY2019Q4 us-gaap Other Prepaid Expense Current
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548000 USD
CY2020Q4 us-gaap Other Assets Current
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28000 USD
CY2019Q4 us-gaap Other Assets Current
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209000 USD
CY2020Q4 glow Prepaid Software Licenses
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0 USD
CY2019Q4 glow Prepaid Software Licenses
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208000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
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691000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
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965000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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11559000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
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14805000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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10986000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13489000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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573000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
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1316000 USD
CY2020 us-gaap Other Depreciation And Amortization
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708000 USD
CY2019 us-gaap Other Depreciation And Amortization
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614000 USD
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
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144000 USD
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
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63000 USD
CY2020Q4 glow Assets Reclassified From Inventory To Property Plant And Equipment
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78000 USD
CY2020Q4 glow Assets Reclassified From Inventory To Property Plant And Equipment Accumulated Depreciation
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38000 USD
CY2020 us-gaap Property Plant And Equipment Disposals
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3438000 USD
CY2020 us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
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3287000 USD
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
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7000 USD
CY2020 glow Gain Loss On Disposition Of Property Plant Equipment Net
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-144000 USD
CY2020Q4 us-gaap Goodwill
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7367000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
7908000 USD
CY2020 us-gaap Number Of Reporting Units
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2 reporting_unit
CY2018Q4 us-gaap Goodwill
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2795000 USD
CY2019 us-gaap Goodwill Acquired During Period
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7367000 USD
CY2019 us-gaap Goodwill Impairment Loss
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2254000 USD
CY2019Q4 us-gaap Goodwill
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7908000 USD
CY2020 us-gaap Goodwill Impairment Loss
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541000 USD
CY2020Q4 us-gaap Goodwill
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7367000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
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14322000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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4182000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
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10140000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
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14322000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1750000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
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12572000 USD
CY2020 us-gaap Amortization Of Intangible Assets
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2432000 USD
CY2019 us-gaap Amortization Of Intangible Assets
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707000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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2386000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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2386000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2386000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1850000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
241000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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891000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
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10140000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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411000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
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810000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
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786000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
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843000 USD
CY2020Q4 us-gaap Dividends Payable Current
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4000 USD
CY2019Q4 us-gaap Dividends Payable Current
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99000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
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1201000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
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1752000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
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2417000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
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5609000 USD
CY2020Q4 us-gaap Long Term Debt Current
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2014000 USD
CY2020Q4 us-gaap Long Term Debt
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2417000 USD
CY2019Q4 us-gaap Long Term Debt
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5507000 USD
CY2019Q4 us-gaap Long Term Debt Current
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2664000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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403000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2843000 USD
CY2020Q4 us-gaap Common Stock Shares Authorized
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150000000 shares
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
CY2020Q4 us-gaap Common Stock Shares Issued
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7861912 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
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7748629 shares
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
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CY2019Q4 us-gaap Class Of Warrant Or Right Outstanding
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72238 shares
CY2019Q4 us-gaap Treasury Stock Shares
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105000 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5162000 shares
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
113000 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
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7749000 shares
CY2020Q4 us-gaap Warrants And Rights Outstanding Term
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P2Y
CY2020Q4 us-gaap Warrants And Rights Outstanding Term
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P2Y
CY2018Q4 us-gaap Class Of Warrant Or Right Outstanding
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0 shares
CY2018Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0
CY2019 glow Class Of Warrant Or Right Granted
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72238 shares
CY2019 glow Class Of Warrant Or Right Granted Weighted Average Exercise Price
ClassOfWarrantOrRightGrantedWeightedAverageExercisePrice
0.01
CY2019Q4 glow Sharebased Compensation Arrangementby Sharebased Payment Award Options Nonvested Intrinsic Value
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0 USD
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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0 USD
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2020 glow Class Of Warrant Or Right Granted
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1146500 shares
CY2020 glow Class Of Warrant Or Right Granted Weighted Average Exercise Price
ClassOfWarrantOrRightGrantedWeightedAverageExercisePrice
4.85
CY2020 glow Class Of Warrant Or Right Exercised
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72238 shares
CY2020 glow Class Of Warrant Or Right Exercised Weighted Average Exercise Price
ClassOfWarrantOrRightExercisedWeightedAverageExercisePrice
0.01
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
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1146500 shares
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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4.85
CY2020Q4 glow Financial Advisory Agreement Term
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P6M
CY2020 us-gaap Stock Repurchased During Period Shares
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7998 shares
CY2019 us-gaap Stock Repurchased During Period Shares
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47918 shares
CY2018Q3 us-gaap Stock Repurchase Program Authorized Amount1
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750000 USD
CY2020Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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673000 USD
CY2020Q4 glow Sharebased Compensation Arrangementby Sharebased Payment Award Options Nonvested Intrinsic Value
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0 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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0 USD
CY2019 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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0 USD
CY2020 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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0 USD
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1938250 shares
CY2020Q4 us-gaap Preferred Stock Shares Issued
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CY2020Q4 us-gaap Preferred Stock Shares Outstanding
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1829582 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
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7748629 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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19.90
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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118003 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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19.90
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107845 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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4.92
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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440 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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16.48
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10063 shares
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CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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23.20
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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215345 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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12.27
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12.27
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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107845 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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4.92
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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107500 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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19.64
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107500 shares
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19.64
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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107500 shares
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P2Y3D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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19.64
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0 USD
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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0 USD
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
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CY2019 us-gaap Net Income Loss
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27000 USD
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788000 USD
CY2019 us-gaap Other Preferred Stock Dividends And Adjustments
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5547000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5108000 shares
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7280000 USD
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12827000 USD
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7427000 USD
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5400000 USD
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0.421
CY2019 us-gaap Costs And Expenses
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019 us-gaap Income Tax Expense Benefit
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CY2020Q4 us-gaap Operating Lease Liability
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1432000 USD
CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
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15333000 USD
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
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12827000 USD
CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
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15333000 USD
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
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12827000 USD
CY2020 us-gaap Operating Lease Expense
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997000 USD
CY2019 us-gaap Operating Lease Expense
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580000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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903000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
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3117000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
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830000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
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1294000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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602000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
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2020000 USD
CY2019Q4 us-gaap Operating Lease Liability
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3314000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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901000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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514000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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116000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
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1531000 USD
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99000 USD
CY2020Q4 us-gaap Operating Lease Liability
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1432000 USD
CY2020 glow Number Of Leases
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1 lease
CY2020 glow Number Of Leases Terminated
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6 lease
CY2020 glow Number Of Operating Lease Impaired
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2 lease
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
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3117000 USD
CY2020 glow Operating Lease Right Of Use Asset Terminations And Modifications
OperatingLeaseRightOfUseAssetTerminationsAndModifications
864000 USD
CY2020 glow Operating Lease Liability Additions
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116000 USD
CY2019Q4 us-gaap Operating Lease Liability
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3314000 USD
CY2020 glow Operating Lease Right Of Use Asset Additions
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116000 USD
CY2020 glow Operating Lease Liability Terminations And Modifications
OperatingLeaseLiabilityTerminationsAndModifications
860000 USD
CY2020 glow Operating Lease Right Of Use Asset Amortization And Reductions
OperatingLeaseRightOfUseAssetAmortizationAndReductions
1001000 USD
CY2020 glow Operating Lease Liability Amortizations Expense
OperatingLeaseLiabilityAmortizationsExpense
1138000 USD
CY2020 us-gaap Operating Lease Impairment Loss
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465000 USD
CY2020 glow Operating Lease Liability Impairment Loss
OperatingLeaseLiabilityImpairmentLoss
0 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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903000 USD
CY2020Q4 us-gaap Operating Lease Liability
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1432000 USD
CY2020 glow Number Of Leases Terminated
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6 lease
CY2020 us-gaap Sublease Income
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374000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-7570000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-7318000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
252000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
121000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020 us-gaap Current Federal Tax Expense Benefit
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0 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
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0 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
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53000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
50000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
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0 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
103000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
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0 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
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0 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
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0 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
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0 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
103000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-1533000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1630000 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-122000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-130000 USD
CY2020 glow Effective Income Tax Rate Reconciliation United Kingdom Expense Addback Amount
EffectiveIncomeTaxRateReconciliationUnitedKingdomExpenseAddbackAmount
289000 USD
CY2019 glow Effective Income Tax Rate Reconciliation United Kingdom Expense Addback Amount
EffectiveIncomeTaxRateReconciliationUnitedKingdomExpenseAddbackAmount
397000 USD
CY2020 glow Effective Income Tax Rate Reconciliation Transaction Costs
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0 USD
CY2019 glow Effective Income Tax Rate Reconciliation Transaction Costs
EffectiveIncomeTaxRateReconciliationTransactionCosts
74000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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114000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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473000 USD
CY2020 glow Effective Income Tax Rate Reconciliation Operating Loss Carryforwards Prior Year Adjustment Amount
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0 USD
CY2019 glow Effective Income Tax Rate Reconciliation Operating Loss Carryforwards Prior Year Adjustment Amount
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-7448000 USD
CY2020 glow Effective Income Tax Rate Reconciliation Operating Loss Carryforwards Adjustment To Nol Benefit
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4640000 USD
CY2019 glow Effective Income Tax Rate Reconciliation Operating Loss Carryforwards Adjustment To Nol Benefit
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0 USD
CY2020 glow Effective Income Tax Rate Reconciliation Operating Loss Carryforwards Expired Amount
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84000 USD
CY2019 glow Effective Income Tax Rate Reconciliation Operating Loss Carryforwards Expired Amount
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0 USD
CY2020 glow Effective Income Tax Rate Reconciliation Tax Expense Benefit Share Based Payment Arrangement Adjustment Amount
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272000 USD
CY2019 glow Effective Income Tax Rate Reconciliation Tax Expense Benefit Share Based Payment Arrangement Adjustment Amount
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0 USD
CY2020 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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-350000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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-406000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-3868000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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8869000 USD
CY2020 us-gaap Income Tax Reconciliation Tax Credits Research
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-546000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
136000 USD
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
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31000 USD
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-63000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
103000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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141000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
83000 USD
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
417000 USD
CY2019Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
522000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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396000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
671000 USD
CY2020Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
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329000 USD
CY2019Q4 glow Deferred Tax Assets Goodwill
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236000 USD
CY2019Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
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320000 USD
CY2020Q4 glow Deferred Tax Assets Goodwill
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167000 USD
CY2020Q4 us-gaap Deferred Tax Assets Inventory
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47000 USD
CY2019Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
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61000 USD
CY2020Q4 glow Deferred Tax Assets Intangible Assets
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2285000 USD
CY2019Q4 glow Deferred Tax Assets Intangible Assets
DeferredTaxAssetsIntangibleAssets
3287000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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2154000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
2700000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
159000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
186000 USD
CY2020Q4 us-gaap Deferred Tax Assets Other
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285000 USD
CY2019Q4 us-gaap Deferred Tax Assets Other
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125000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
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30542000 USD
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
34410000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
30542000 USD
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
34410000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 USD
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-4005000 USD
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
25040000 USD
CY2020 glow Operating Loss Carryforwards Permanent Loss Of Tax Benefit Resulting From Ownership Change
OperatingLossCarryforwardsPermanentLossOfTaxBenefitResultingFromOwnershipChange
30880000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
58000000 USD
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
74000000 USD
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001

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