SAFEGUARD SCIENTIFICS INC, 10-Q filed on 4/30/2020
Quarterly Report
v3.20.1
Document And Entity Information - shares
 3 Months Ended
Mar. 31, 2020
Apr. 27, 2020
Document Information [Line Items]    
Entity Registrant Name SAFEGUARD SCIENTIFICS INC  
Entity Central Index Key 0000086115  
Current Fiscal Year End Date --12-31  
Entity Filer Category Non-accelerated Filer  
Entity Current Reporting Status Yes  
Entity Emerging Growth Company false  
Entity Small Business true  
Entity Interactive Data Current Yes  
Entity Common Stock, Shares Outstanding (in shares)   20,673,078
Entity Shell Company false  
Document Type 10-Q  
Document Period End Date Mar. 31, 2020  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.20.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 20,933 $ 25,028
Restricted cash 25 25
Prepaid expenses and other current assets 634 1,297
Total current assets 21,592 26,350
Property and equipment, net 2,026 2,101
Ownership interests in and advances 66,798 77,129
Other assets 1,992 1,997
Total Assets 92,408 107,577
Current Liabilities:    
Accounts payable 141 39
Accrued compensation and benefits 2,096 1,364
Accrued expenses and other current liabilities 568 627
Lease liability - current 380 399
Total current liabilities 3,185 2,429
Lease liability - non-current 2,303 2,380
Other long-term liabilities 1,112 1,027
Total Liabilities 6,600 5,836
Commitments and contingencies (Note 9)
Equity:    
Preferred stock, $0.10 par value; 1,000 shares authorized
Common stock, $0.10 par value; 83,333 shares authorized; 21,573 shares issued at March 31, 2020 and December 31, 2019 2,157 2,157
Additional paid-in capital 810,827 810,856
Treasury stock, at cost; 924 and 930 shares at March 31, 2020 and December 31, 2019, respectively (13,920) (14,024)
Accumulated deficit (713,231) (697,223)
Accumulated other comprehensive loss (25) (25)
Total Equity 85,808 101,741
Total Liabilities and Equity $ 92,408 $ 107,577
v3.20.1
Consolidated Balance Sheets (Parentheticals) - $ / shares
shares in Thousands
Mar. 31, 2020
Dec. 31, 2019
Preferred stock, par value (in dollars per share) $ 0.10 $ 0.10
Preferred stock, shares authorized (in shares) 1,000 1,000
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 83,333 83,333
Common stock, shares issued (in shares) 21,573 21,573
Treasury stock, shares (in shares) 924 930
v3.20.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
General and administrative expense $ 3,532 $ 3,057
Operating loss (3,532) (3,057)
Other income (loss), net (3,567) (1,885)
Interest income 105 873
Interest expense (2,535)
Equity income (loss), net (9,014) 28,267
Net income (loss) before income taxes (16,008) 21,663
Income tax benefit (expense) 0 0
Net income (loss) $ (16,008) $ 21,663
Net income (loss) per share:    
Basic (in dollars per share) $ (0.77) $ 1.05
Diluted (in dollars per share) $ (0.77) $ 1.05
Weighted average shares used in computing income (loss) per share:    
Basic (in shares) 20,686 20,585
Diluted (in shares) 20,686 20,585
v3.20.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net income (loss) $ (16,008) $ 21,663
Other comprehensive income (loss):    
Share of other comprehensive income (loss) of equity method interests (31)
Total comprehensive income (loss) $ (16,008) $ 21,632
v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net cash used in operating activities $ (2,551) $ (5,782)
Cash Flows from Investing Activities:    
Proceeds from sales of and distributions from ownership interests 708 41,778
Acquisitions of ownership interest (1,000)
Advances and loans (1,241) (3,925)
Purchases of marketable securities (57,243)
Proceeds from sales and maturities in marketable securities 62,235
Net cash (used in) provided by investing activities (1,533) 42,845
Cash Flows from Financing Activities:    
Tax withholdings related to equity-based awards (11) (149)
Net cash used in financing activities (11) (149)
Net change in cash, cash equivalents and restricted cash (4,095) 36,914
Cash, cash equivalents and restricted cash at beginning of period 25,053 8,203
Cash, cash equivalents and restricted cash at end of period $ 20,958 $ 45,117
v3.20.1
Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Treasury Stock [Member]
Total
Balance at Dec. 31, 2018 $ (731,105) $ 2,157 $ 810,928 $ (15,001) $ 66,979
Balance (in shares) at Dec. 31, 2018     21,573   914  
Net income (loss) 21,663 21,663
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net 7 $ (156) (149)
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares)       83  
Stock-based compensation expense 417 417
Balance at Mar. 31, 2019 (709,442) (31) $ 2,157 811,352 $ (15,157) 88,879
Balance (in shares) at Mar. 31, 2019     21,573   998  
Stock options exercised, net of tax withholdings
Stock options exercised, net of tax withholdings (in shares)       1  
Other comprehensive loss (31) (31)
Balance at Dec. 31, 2019 (697,223) (25) $ 2,157 810,856 $ (14,024) 101,741
Balance (in shares) at Dec. 31, 2019     21,573   930  
Net income (loss) (16,008) (16,008)
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (32) $ 104 72
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares)       (6)  
Stock-based compensation expense 3 3
Balance at Mar. 31, 2020 $ (713,231) $ (25) $ 2,157 $ 810,827 $ (13,920) $ 85,808
Balance (in shares) at Mar. 31, 2020     21,573   924  
v3.20.1
Note 1 - General
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
1.
General
 
The accompanying unaudited interim Consolidated Financial Statements of Safeguard Scientifics, Inc. (“Safeguard” or the “Company”) were prepared in accordance with accounting principles generally accepted in the United States of America and the interim financial statement rules and regulations of the SEC. In the opinion of management, these statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Consolidated Financial Statements. The interim operating results are
not
necessarily indicative of the results for a full year or for any interim period. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations relating to interim financial statements. The Consolidated Financial Statements included in this Form
10
-Q should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this Form
10
-Q and with the Company’s Consolidated Financial Statements and Notes thereto included in the Company’s 
2019
Annual Report on Form
10
-K.
 
Liquidity
 
As of
March 31, 2020
 the Company had
$20.9
 million of cash and cash equivalents.
 
In
January 2018,
Safeguard announced that, from that date forward, the Company will
not
deploy any capital into new opportunities and will focus on supporting our existing companies and maximizing monetization opportunities to return value to shareholders. In that context, the Company has, is and will consider initiatives including, among others: the sale of individual ownership interests, the sale of certain or all ownership interests in secondary market transactions, or a combination thereof, as well as other opportunities to maximize shareholder value.
 
The Company believes that its cash and cash equivalents at
March 31, 2020
will be sufficient to fund operations past
one
year from the issuance of these financial statements.
 
Principles of Accounting for Ownership Interests
 
The Company accounts for its ownership interests using
one
of the following methods: Equity or Other. The accounting method applied is generally determined by the degree of the Company's influence over the entity, primarily determined by our voting interest in the entity.
 
In addition to holding voting and non-voting equity, the Company also periodically makes advances to its companies in the form of promissory notes which are included in the Ownership interests in and advances on the Consolidated Balance Sheets.
 
Equity Method.
 The Company accounts for ownership interests whose results are
not
consolidated, but over which it exercises significant influence, under the equity method of accounting. Whether or
not
the Company exercises significant influence with respect to an ownership interest depends on an evaluation of several factors including, among others, representation on the board of directors and our ownership level, which is generally a
20%
to
50%
interest in the voting securities of a company, including voting rights associated with the Company’s holdings in common, preferred and other convertible instruments in the company. Under the equity method of accounting, the Company does
not
reflect a company’s financial statements within our Consolidated Financial Statements; however, our share of the income or loss of such company is reflected in Equity income (loss) in the Consolidated Statements of Operations. The Company includes the carrying value of equity method companies in Ownership interests in and advances on the Consolidated Balance Sheets. Any excess of the Company’s cost over its underlying interest in the net assets of equity method companies that is allocated to intangible assets is amortized over the estimated useful lives of the related intangible assets. The Company reflects its share of the income or loss of the equity method companies on a
one
quarter lag. This reporting lag could result in a delay in recognition of the impact of changes in the business or operations of these companies.
 
When the Company’s carrying value in an equity method company is reduced to zero, the Company records
no
further losses in its Consolidated Statements of Operations unless the Company has an outstanding guarantee obligation or has committed additional funding to such equity method company. When such equity method company subsequently reports income, the Company will
not
record its share of such income until it exceeds the amount of the Company’s share of losses
not
previously recognized.
 
Other Method.
We account for our equity interests in companies which are
not
accounted for under the equity method as equity securities without readily determinable fair values. We estimate the fair value of these securities based on our original cost less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar interest of the same issuer. Under this method, our share of the income or losses of such companies is
not
included in our Consolidated Statements of Operations. We include the carrying value of these interests in Ownership interests and advances on the Consolidated Balance Sheets.
 
Impairment of Ownership Interests and Advances
 
On a periodic basis, but
no
less frequently than quarterly, the Company evaluates the carrying value of its ownership interests and advances for possible impairment based on achievement of business plan objectives and milestones, the estimated fair value of each company relative to its carrying value, the financial condition and prospects of the company and other relevant factors. The business plan objectives and milestones the Company considers include, among others, those related to financial performance, such as achievement of planned financial results or completion of capital raising activities, and those that are
not
primarily financial in nature, such as hiring of key employees or the establishment of strategic relationships.
 
Management then determines whether there has been an other than temporary decline in the value of its ownership interest in the company. Impairment is measured as the amount by which the carrying value of an asset exceeds its estimated fair value.
 
The estimated fair value of privately held companies is generally determined based on the value at which independent
third
parties have invested or have committed to invest in these companies or based on other valuation methods, including discounted cash flows, valuation of comparable public companies and the valuation of acquisitions of similar companies.
 
Impairment charges related to equity method companies are included in Equity income (loss) in the Consolidated Statements of Operations. Impairment charges related to non-equity method companies and funds are included in Other income (loss), net in the Consolidated Statements of Operations.
 
The reduced cost basis of a previously impaired company accounted for using the Equity method are
not
written-up if circumstances suggest the value of the company has subsequently recovered.
 
Recently Adopted Accounting Pronouncements
 
In
May 2014,
the Financial Accounting Standards Board ("FASB") issued ASU
No.
2014
-
09,
Revenue from Contracts with Customers (Topic
606
)
("ASU
2014
-
09"
). ASU
2014
-
09
and related subsequent amendments outline a single comprehensive model to use to account for revenue arising from contracts with customers and supersede most current revenue recognition guidance. For public companies, the guidance was effective for annual periods beginning after
December 15, 
2017
and any interim periods that fall within that reporting period. For nonpublic companies, the guidance was effective for annual periods beginning after
December 15, 2018
and interim periods within annual periods beginning after
December 15, 2019
with early adoption permitted. As the new standard superseded most existing revenue guidance, it could impact revenue and cost recognition for companies in which we hold an ownership interest. Any change in revenue or cost recognition for companies in which we hold an ownership interest could affect the Company's recognition of its share of the results of its equity method companies. On
July 20, 2017,
the SEC staff observer at the FASB’s Emerging Issues Task Force ("EITF") meeting announced that the SEC staff will
not
object if a private company equity method investee meeting the definition of a public business entity that otherwise would
not
meet the definition of a public business entity except for the inclusion of its financial statements or financial information in another entity’s filings with the SEC, uses private company adoption dates for the new revenue standard.  As a result, the Company's private, calendar year companies adopted the revenue standard for the year ending
December 31, 2019. 
The impact of adoption of the new revenue standard is reflected in the Company’s financial results for the interim and annual reporting periods beginning in
2020
on a
one
quarter-lag basis.  The impact during the quarter ended
March 31, 2020
was
not
significant.
v3.20.1
Note 2 - Ownership Interests In and Advances
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]
2.
Ownership Interests in and Advances
 
The following summarizes the carrying value of the Company’s ownership interests in and advances. 
  
   
March 31, 2020
    
December 31, 2019
  
   
(Unaudited - In thousands)
  
Equity Method:
                
Companies
   $
29,289
     $
34,271
  
Private equity funds
    
271
      
271
  
     
29,560
      
34,542
  
Other Method:
                
Companies
    
23,464
      
27,031
  
Private equity funds
    
453
      
453
  
     
23,917
      
27,484
  
Advances to companies
    
13,321
      
15,103
  
    $
66,798
     $
77,129
  
                 
 
During the
three
months ended
March 31, 2020
, the Company recorded impairments of
$6.2
 million related to the ownership interests of WebLinc, Inc. and QuanticMind, Inc. accounted for under the equity method, which are reflected in Equity income (loss) in the consolidated Statement of Operations.  During the
three
months ended
March 31, 2020
, the Company also recorded impairments of
$5.1
million related to the ownership interests of T-REX Group, Inc.,
b8ta
and others accounted for under the Other method, which are reflected in Other income (loss), net in the consolidated Statement of Operations.  The impairments were determined based on declines in the fair value of our ownership interests resulting from reduced valuation expectations and extended exit timelines resulting from the more challenging mergers and acquisitions environment related to COVID-
19
and the related uncertain economic impact.  The measurement of fair value for these impairments was estimated based on evaluating several valuation methods available for each of the applicable ownership interests, primarily including the value at which independent
third
parties have invested, the valuation of comparable public companies, the valuation of acquisitions of similar companies and the present value of our expected outcomes.  Assumptions considered within these methods include determining what public companies are comparable, projecting forward revenues for the measured ownership interest, discounts to apply for the lack of marketability or lack of comparability, other factors and the relative weight to apply to each valuation method available.  The aggregate estimated fair value of these ownership interests to which the impairment amounts were recorded is
$12.5
million.  Due to the unobservable nature of some of these inputs, we have determined these fair value estimates to be a Level
3
fair value measurement.
 
During the
three
months ended
March 31, 2020
, the Company recorded a
$1.5
million non-cash gain based upon an observable price change related to our ownership interest in Flashtalking Inc. accounted for under the Other method, which is reflected in Other income (loss), net in the consolidated Statement of Operations.
 
Summarized Financial Information
 
The following table summarizes the statement of operations data for any companies accounted for under the equity method for the
three
months ended
March 31, 2020
and
2019
, respectively. These results have been compiled from the respective companies financial statements, reflect certain historical adjustments, and are reported on a
one
quarter lag basis. Results of operations of the companies are excluded for periods prior to their acquisition, subsequent to their disposition and subsequent to the discontinuation of equity method of accounting. Historical results are
not
adjusted when the Company exits, writes-off or discontinues the equity method of accounting. 
 
   
Three Months Ended March 31,
  
   
2020
    
2019
  
   
(Unaudited - In thousands)
  
Results of Operations:
      
 
      
 
Revenue
   $
47,414
     $
43,868
  
Gross profit
   $
29,506
     $
24,589
  
Net loss
   $
(14,604
 )   $
(33,616
 )
v3.20.1
Note 3 - Acquisitions of Ownership Interests
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Cost and Equity Method Investments Disclosure [Text Block]
3.
Acquisitions of Ownership Interests
 
The following is a summary of additional deployments during the quarter ended
March 31, 2020:
 
The Company deployed an additional
$1.0
 million to meQuilibrium. The Company had previously deployed an aggregate of
$13.0
 million in meQuilibrium. meQuilibrium is a digital coaching platform that delivers clinically validated and highly personalized resilience solutions to employers, health plans, wellness providers, and consumers increasing engagement, productivity and performance, as well as improving outcomes in managing stress, health and well-being.
 
The Company funded an additional
$0.6
 million of convertible loans to Syapse, Inc. The Company had previously deployed
$20.6
 million in Syapse.  Syapse drives healthcare transformation through precision medicine, enabling provider systems to improve clinical outcomes, streamline operations, and shift to new payment models.
 
The Company funded an additional 
$0.3
 million of convertible loans to Trice Medical, Inc. The Company had previously deployed an aggregate of
$10.2
 million in Trice. Trice is focused on orthopedic diagnostics using fully integrated camera-enabled technologies to provide clinical solutions to physicians.
 
The Company funded an additional
$0.2
 million of convertible loans to QuanticMind. The Company had previously deployed an aggregate of
$13.5
 million in QuanticMind. QuanticMind delivers an intelligent, scalable and fast platform for maximizing digital marketing performance, including paid search and social, for enterprises.
 
The Company funded an aggregate of
$0.1
 million of convertible loans to WebLinc, Inc. The Company had previously deployed an aggregate of
$16.1
 million in WebLinc. WebLinc is an e-commerce platform for online retailers.
v3.20.1
Note 4 - Fair Value Measurements
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
4.
Fair Value Measurements
 
The Company categorizes its financial instruments into a
three
-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level
1
) and the lowest priority to unobservable inputs (Level
3
). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial instruments recorded at fair value on the Company’s Consolidated Balance Sheets are categorized as follows:
 
Level 
1—Observable
inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
 
Level 
2—Include
other inputs that are directly or indirectly observable in the marketplace.
 
Level 
3—Unobservable
inputs which are supported by little or
no
market activity.
 
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
 
The following table provides the carrying value and fair value of certain financial assets and liabilities of the Company measured at fair value on a recurring basis as of
March 31, 2020
and
December 31, 2019
:
 
   
Carrying
    
Fair Value Measurement at March 31, 2020
  
   
Value
    
Level 1
    
Level 2
    
Level 3
  
   
(Unaudited - In thousands)
  
Cash and cash equivalents
   $
20,933
     $
20,933
     $
—
     $
—
  
                                 
Restricted cash equivalents
   $
25
     $
25
     $
—
     $
—
  
 
 
   
Carrying
    
Fair Value Measurement at December 31, 2019
  
   
Value
    
Level 1
    
Level 2
    
Level 3
  
   
(Unaudited - In thousands)
  
Cash and cash equivalents
   $
25,028
     $
25,028
     $
—
     $
—
  
                                 
Restricted cash equivalents
   $
25
     $
25
     $
—
     $
—
  
                                 
 
Held-to-maturity securities are carried at amortized cost, which, due to the short-term maturity of these instruments, approximates fair value using quoted prices in active markets for identical assets or liabilities defined as Level
1
inputs under the fair value hierarchy. 
v3.20.1
Note 5 - Stock-Based Compensation
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
5.
Stock-Based Compensation
 
Stock-based compensation expense was recognized in the Consolidated Statements of Operations as follows:  
 
   
Three Months Ended March 31,
  
   
2020
    
2019
  
   
(Unaudited - In thousands)
  
General and administrative expense
   $
86
     $
417
  
    $
86
     $
417
  
 
During the
three
months ended
March 31, 2020
and
2019
, the Company granted
7
 thousand and
0
thousand restricted stock awards, respectively to non-employee directors for compensation.
v3.20.1
Note 6 - Income Taxes
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
6.
Income Taxes
 
The Company’s consolidated income tax benefit (expense) was
$0.0
million for the
three
months ended
March 31, 2020
and
2019
. The Company has recorded a valuation allowance to reduce its net deferred tax asset to an amount that is more likely than
not
to be realized in future years. Accordingly, the tax provision expense that would have been recognized in the
three
months ended
March 31, 2020
was offset by changes in the valuation allowance. During the
three
months ended
March 31, 2020
, the Company had
no
material changes in uncertain tax positions.
v3.20.1
Note 7 - Net Income (Loss) Per Share
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]
7.
Net Income (Loss) Per Share
 
The calculations of net income (loss) per share were as follows:
 
   
Three Months Ended March 31,
  
   
2020
    
2019
  
   
(Unaudited - In thousands, except per share data)
  
Basic:
      
 
      
 
Net income (loss)
   $
(16,008
 )   $
21,663
  
Weighted average common shares outstanding
    
20,686
      
20,585
  
Net income (loss) per share
   $
(0.77
 )   $
1.05
  
                 
Diluted:
      
 
      
 
Net income (loss) for dilutive share computation
   $
(16,008
 )   $
21,663
  
                 
Number of shares used in basic per share computation
    
20,686
      
20,585
  
Unvested restricted stock and DSU's
    
—
      
—
  
Employee stock options
    
—
      
—
  
Weighted average common shares outstanding
    
20,686
      
20,585
  
                 
Net income (loss) per dilutive share
   $
(0.77
 )   $
1.05
  
 
Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs).
 
If an equity method company has dilutive stock options, unvested restricted stock, DSUs or warrants, diluted net income (loss) per share is computed by
first
deducting the income attributable to the potential exercise of the dilutive securities of the company from net income (loss). Any impact is shown as an adjustment to net income (loss) for purposes of calculating diluted net income (loss) per share.
 
Diluted earnings per share do
not
reflect the following potential shares of common stock that would have an anti-dilutive effect or have unsatisfied performance or market conditions:
 
 
•
At
March 31, 2020
and
2019
, options to purchase
0.2
million and
0.3
 million shares of common stock, respectively, at prices ranging from
$10.37
 to
$18.45
 and
$9.83
to
$19.41,
respectively, were excluded from the calculations.
     
 
•
At
March 31, 2020
and
2019
, unvested restricted stock, performance-based stock units and DSUs convertible into
0.3
million and
0.7
 million shares of stock, respectively, were excluded from the calculations.
v3.20.1
Note 8 - Segment Reporting
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
8.
Segment Reporting
 
The Company operates as
one
operating segment based upon the similar nature of its technology-driven companies, the functional alignment of the organizational structure, and the reports that are regularly reviewed by the chief operating decision maker for the purpose of assessing performance and allocating resources. As of
March 31, 2020
, the Company held ownership interests accounted for using the equity method in
13
 non-consolidated companies. 
 
Certain of the Company’s ownership interests as of
March 31, 2020
 included the following:   
 
Company Name
  
Safeguard Primary Ownership as of March 31, 2020
  
Accounting Method
Aktana, Inc.
  
17.5%
  
Equity
Clutch Holdings, Inc.
  
41.2%
  
Equity
Flashtalking
  
13.4%
  
Other
InfoBionic, Inc.
  
25.2%
  
Equity
Lumesis, Inc.
  
43.5%
  
Equity
MediaMath, Inc.
  
13.3%
  
Other
meQuilibrium
  
32.7%
  
Equity
Moxe Health Corporation
  
29.9%
  
Equity
Prognos Health Inc.
  
28.7%
  
Equity
QuanticMind, Inc.
  
24.2%
  
Equity
Sonobi, Inc.
  
21.6%
  
Equity
Syapse, Inc.
  
20.0%
  
Equity
T-REX Group, Inc.  
13.7%
  
Other
Trice Medical, Inc.
  
16.6%
  
Equity
WebLinc, Inc.
  
38.5%
  
Equity
Zipnosis, Inc.
  
37.7%
  
Equity
 
As of
March 31, 2020
and
December 31, 2019
, all of the Company’s assets were located in the United States.
v3.20.1
Note 9 - Commitments and Contingencies
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
9.
Commitments and Contingencies
 
In
March 2019,
the Company entered into a sublease of its prior corporate headquarters office space beginning in
June 2019.
The term of the sublease is through
April 2026,
the same as the Company's underlying lease. Fixed sublease payments to the Company are escalating over the term of the sublease and are reported as a component of general and administrative expenses.
 
In
April 2019,
the Company entered into a sublease for replacement office space with a related party, a company in which we hold an ownership interest, beginning in
June 2019.
The term of this sublease is
18
months with
three
conditional
six
month renewals based on mutual agreement with the sublessor. The aggregate payments expected under this sublease are
not
material.
 
A summary of the Company's operating lease cash flows at
March 31, 2020
follows:
 
   
Operating lease payments
    
Expected sublease receipts
  
   
(Unaudited - In thousands)
  
2020 (nine months ending December 31)
   $
530
     $
384
  
2021
    
595
      
525
  
2022
    
601
      
540
  
2023
    
607
      
556
  
2024
    
613
      
573
  
2025
    
619
      
590
  
Thereafter
    
207
      
199
  
Total future minimum lease payments
    
3,772
     $
3,367
  
Less imputed interest
    
(1,089
 )    
 
  
Total operating lease liabilities
   $
2,683
      
 
  
 
 
The Company and the companies in which it holds ownership interests are involved in various claims and legal actions arising in the ordinary course of business. In the current opinion of the Company, the ultimate disposition of these matters will
not
have a material adverse effect on the Company’s consolidated financial position or results of operations, however,
no
assurance can be given as to the outcome of these actions, and
one
or more adverse rulings could have a material adverse effect on the Company’s consolidated financial position and results of operations or that of its companies. The Company records costs associated with legal fees as such services are rendered.
 
The Company had outstanding guarantees of
$3.8
million at
March 31, 2020
which related to
one
of the Company's private equity holdings.
 
In
2018,
the Board of Directors (the “Board”) of the Company adopted a long-term incentive plan, which was amended in
February 2019,
the Amended and Restated Safeguard Scientifics Transaction Bonus Plan, (the “LTIP”). The purpose of the LTIP is to promote the interests of the Company and its shareholders by providing an additional incentive to employees to maximize the value of the Company in connection with the execution of the business strategy that the Company adopted and announced in
January 2018.
Under the LTIP, participants have received awards that
may
result in cash payments in connection with sales of the Company’s ownership interests (“Sale Transaction(s)”). The LTIP provides for a bonus pool corresponding to: (i) specified vesting thresholds or (ii) specified events. In the
first
case, the bonus pool will range from an amount equal to
1%
of received proceeds at the
first
threshold to
1.333%
at higher thresholds and
no
bonus pool will be created if the transaction consideration is less than certain minimum thresholds. In the
second
case, a minimum pool will be created and paid under specified circumstances. The bonus pool will be allocated and paid to participants in the LTIP based on the product of (i) the participant’s applicable bonus pool percentage and (ii) the bonus pool calculated as of the vesting date, minus any previously paid portion of the bonus pool. Any portion of the bonus pool available as of the applicable vesting date that is reserved will be allocated in connection with each vesting date so that the entire bonus pool available as of such vesting date is allocated and payable to participants. Subject to the terms of the LTIP, payments under the LTIP will be paid in cash
not
later than
March
15th
of the calendar year following the calendar year of the applicable vesting date. All current officers and employees of the Company are eligible to participate in the LTIP. The Board, in its sole discretion, will determine the participants to whom awards are granted under the LTIP. The Company has accrued approximately
$0.8
 million under the LTIP as of
March 31, 2020
.
 
The Company recorded severance expense of
$1.7
million during the
three
months ended
March 31, 2020
for the former CEO in accordance with an existing employment arrangement.  This amount will be paid during the
second
quarter.  Other accrued compensation amounts previously deferred will be paid within
six
months.  Additional contingent amounts could be paid based on continued participation in prior awards granted pursuant to the LTIP.  The Company has agreements with certain remaining employees that provide for severance payments to the employee in the event the employee is terminated without cause or an employee terminates his employment for “good reason.” The maximum aggregate exposure under employment and severance agreements for remaining employees was approximately
$2.2
 million at
March 31, 2020
.
 
In
June 2011,
the Company's former ownership interest, Advanced BioHealing, Inc. (“ABH”) was acquired by Shire plc (“Shire”).  Prior to the expiration of the escrow period in
March 2012,
Shire filed a claim against all amounts held in escrow related to the sale based principally upon a United States Department of Justice (“DOJ”) false claims act investigation relating to ABH (the “Investigation”). In connection with the Investigation, in
July 2015
the Company received a Civil Investigation Demand-Documentary Material (“CID”) from the DOJ regarding ABH and Safeguard’s relationship with ABH. Pursuant to the CID, the Company provided the requested materials and information.  To the Company’s knowledge, the CID was related to multiple qui tam (“whistleblower”) actions,
one
of which was filed in
2014
by an ex-employee of ABH that named the Company and
one
of the Company’s employees along with other entities and individuals as defendants.  At this time, the DOJ has declined to pursue the qui tam action as it relates to the Company and such Company employee. In addition, in connection with the above matters, the Company and other former equity holders in ABH entered into a settlement and release with Shire, which resulted in the release to Shire of all amounts held in escrow related to the sale of ABH.
v3.20.1
Note 10 - Equity
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
10.
Equity
 
In
July 2015,
the Company's Board of Directors authorized the Company, from time to time and depending on market conditions, to repurchase up to 
$25.0
million of the Company's outstanding common stock. The Company has
not
repurchased any shares under the existing authorization during
2019
or the
three
months ended
March 31, 2020
.
 
In
February 2018,
the Company's Board of Directors adopted a tax benefits preservation plan (the "Plan") designed to protect and preserve the Company's ability to utilize its net operating loss carryforwards ("NOLs"). The Company submitted the Plan for shareholder ratification at its
2019
Annual Meeting of Shareholders and the Plan was ratified by shareholders. The purpose of the Plan is to preserve the Company's ability to use its NOLs, which would be substantially limited if the Company experienced an "ownership change" as defined under Section
382
of the Internal Revenue Code. In general, an ownership change would be deemed to have occurred if the Company's shareholders who are treated as owning
five
percent or more of the outstanding shares of Safeguard for purposes of Section
382
("five-percent shareholders") collectively increase their aggregate ownership in the Company's overall shares outstanding by more than
50
percentage points. Whether this change has occurred would be measured by comparing each
five
-percent shareholder's current ownership as of the measurement date to such shareholders' lowest ownership percentage during the
three
-year period preceding the measurement date. To protect the Company's NOLs from being limited or permanently lost under Section
382,
the Plan is intended to deter any person or group from acquiring beneficial ownership of
4.99%
or more of the Company's outstanding common stock without the approval of the Board, reducing the likelihood of an unintended ownership change. If such beneficial ownership is acquired without the approval of the Board, under the Plan, the Company will issue
one
preferred stock purchase right (the "Rights") for each share of Safeguard's common stock held by shareholders as of the applicable date of record. The issuance of the Rights will
not
be taxable to Safeguard or its shareholders and will
not
affect Safeguard's reported earnings per share. The Rights will trade with Safeguard's common shares and will expire
no
later than
February 19, 2021.
The Rights and the Plan
may
also expire on an earlier date upon the occurrence of other events, including a determination by the Company's Board that the Plan is
no
longer necessary or desirable for the preservation of the Company's tax attributes or that
no
tax attributes
may
be carried forward (with such expiration occurring as of the beginning of the applicable taxable year). There can be
no
assurance that the Plan will prevent the Company from experiencing an ownership change.
v3.20.1
Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Liquidity, Policy [Policy Text Block]
Liquidity
 
As of
March 31, 2020
 the Company had
$20.9
 million of cash and cash equivalents.
 
In
January 2018,
Safeguard announced that, from that date forward, the Company will
not
deploy any capital into new opportunities and will focus on supporting our existing companies and maximizing monetization opportunities to return value to shareholders. In that context, the Company has, is and will consider initiatives including, among others: the sale of individual ownership interests, the sale of certain or all ownership interests in secondary market transactions, or a combination thereof, as well as other opportunities to maximize shareholder value.
 
The Company believes that its cash and cash equivalents at
March 31, 2020
will be sufficient to fund operations past
one
year from the issuance of these financial statements.
Investment, Policy [Policy Text Block]
Principles of Accounting for Ownership Interests
 
The Company accounts for its ownership interests using
one
of the following methods: Equity or Other. The accounting method applied is generally determined by the degree of the Company's influence over the entity, primarily determined by our voting interest in the entity.
 
In addition to holding voting and non-voting equity, the Company also periodically makes advances to its companies in the form of promissory notes which are included in the Ownership interests in and advances on the Consolidated Balance Sheets.
 
Equity Method.
 The Company accounts for ownership interests whose results are
not
consolidated, but over which it exercises significant influence, under the equity method of accounting. Whether or
not
the Company exercises significant influence with respect to an ownership interest depends on an evaluation of several factors including, among others, representation on the board of directors and our ownership level, which is generally a
20%
to
50%
interest in the voting securities of a company, including voting rights associated with the Company’s holdings in common, preferred and other convertible instruments in the company. Under the equity method of accounting, the Company does
not
reflect a company’s financial statements within our Consolidated Financial Statements; however, our share of the income or loss of such company is reflected in Equity income (loss) in the Consolidated Statements of Operations. The Company includes the carrying value of equity method companies in Ownership interests in and advances on the Consolidated Balance Sheets. Any excess of the Company’s cost over its underlying interest in the net assets of equity method companies that is allocated to intangible assets is amortized over the estimated useful lives of the related intangible assets. The Company reflects its share of the income or loss of the equity method companies on a
one
quarter lag. This reporting lag could result in a delay in recognition of the impact of changes in the business or operations of these companies.
 
When the Company’s carrying value in an equity method company is reduced to zero, the Company records
no
further losses in its Consolidated Statements of Operations unless the Company has an outstanding guarantee obligation or has committed additional funding to such equity method company. When such equity method company subsequently reports income, the Company will
not
record its share of such income until it exceeds the amount of the Company’s share of losses
not
previously recognized.
 
Other Method.
We account for our equity interests in companies which are
not
accounted for under the equity method as equity securities without readily determinable fair values. We estimate the fair value of these securities based on our original cost less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar interest of the same issuer. Under this method, our share of the income or losses of such companies is
not
included in our Consolidated Statements of Operations. We include the carrying value of these interests in Ownership interests and advances on the Consolidated Balance Sheets.
 
Impairment of Ownership Interests and Advances
 
On a periodic basis, but
no
less frequently than quarterly, the Company evaluates the carrying value of its ownership interests and advances for possible impairment based on achievement of business plan objectives and milestones, the estimated fair value of each company relative to its carrying value, the financial condition and prospects of the company and other relevant factors. The business plan objectives and milestones the Company considers include, among others, those related to financial performance, such as achievement of planned financial results or completion of capital raising activities, and those that are
not
primarily financial in nature, such as hiring of key employees or the establishment of strategic relationships.
 
Management then determines whether there has been an other than temporary decline in the value of its ownership interest in the company. Impairment is measured as the amount by which the carrying value of an asset exceeds its estimated fair value.
 
The estimated fair value of privately held companies is generally determined based on the value at which independent
third
parties have invested or have committed to invest in these companies or based on other valuation methods, including discounted cash flows, valuation of comparable public companies and the valuation of acquisitions of similar companies.
 
Impairment charges related to equity method companies are included in Equity income (loss) in the Consolidated Statements of Operations. Impairment charges related to non-equity method companies and funds are included in Other income (loss), net in the Consolidated Statements of Operations.
 
The reduced cost basis of a previously impaired company accounted for using the Equity method are
not
written-up if circumstances suggest the value of the company has subsequently recovered.
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Adopted Accounting Pronouncements
 
In
May 2014,
the Financial Accounting Standards Board ("FASB") issued ASU
No.
2014
-
09,
Revenue from Contracts with Customers (Topic
606
)
("ASU
2014
-
09"
). ASU
2014
-
09
and related subsequent amendments outline a single comprehensive model to use to account for revenue arising from contracts with customers and supersede most current revenue recognition guidance. For public companies, the guidance was effective for annual periods beginning after
December 15, 
2017
and any interim periods that fall within that reporting period. For nonpublic companies, the guidance was effective for annual periods beginning after
December 15, 2018
and interim periods within annual periods beginning after
December 15, 2019
with early adoption permitted. As the new standard superseded most existing revenue guidance, it could impact revenue and cost recognition for companies in which we hold an ownership interest. Any change in revenue or cost recognition for companies in which we hold an ownership interest could affect the Company's recognition of its share of the results of its equity method companies. On
July 20, 2017,
the SEC staff observer at the FASB’s Emerging Issues Task Force ("EITF") meeting announced that the SEC staff will
not
object if a private company equity method investee meeting the definition of a public business entity that otherwise would
not
meet the definition of a public business entity except for the inclusion of its financial statements or financial information in another entity’s filings with the SEC, uses private company adoption dates for the new revenue standard.  As a result, the Company's private, calendar year companies adopted the revenue standard for the year ending
December 31, 2019. 
The impact of adoption of the new revenue standard is reflected in the Company’s financial results for the interim and annual reporting periods beginning in
2020
on a
one
quarter-lag basis.  The impact during the quarter ended
March 31, 2020
was
not
significant.
v3.20.1
Note 2 - Ownership Interests In and Advances (Tables)
 3 Months Ended
Mar. 31, 2020
Notes Tables  
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block]
   
March 31, 2020
    
December 31, 2019
  
   
(Unaudited - In thousands)
  
Equity Method:
                
Companies
   $
29,289
     $
34,271
  
Private equity funds
    
271
      
271
  
     
29,560
      
34,542
  
Other Method:
                
Companies
    
23,464
      
27,031
  
Private equity funds
    
453
      
453
  
     
23,917
      
27,484
  
Advances to companies
    
13,321
      
15,103
  
    $
66,798
     $
77,129
  
                 
Equity Method Investments [Table Text Block]
   
Three Months Ended March 31,
  
   
2020
    
2019
  
   
(Unaudited - In thousands)
  
Results of Operations:
      
 
      
 
Revenue
   $
47,414
     $
43,868
  
Gross profit
   $
29,506
     $
24,589
  
Net loss
   $
(14,604
 )   $
(33,616
 )
v3.20.1
Note 4 - Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2020
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
   
Carrying
    
Fair Value Measurement at March 31, 2020
  
   
Value
    
Level 1
    
Level 2
    
Level 3
  
   
(Unaudited - In thousands)
  
Cash and cash equivalents
   $
20,933
     $
20,933
     $
—
     $
—
  
                                 
Restricted cash equivalents
   $
25
     $
25
     $
—
     $
—
  
   
Carrying
    
Fair Value Measurement at December 31, 2019
  
   
Value
    
Level 1
    
Level 2
    
Level 3
  
   
(Unaudited - In thousands)
  
Cash and cash equivalents
   $
25,028
     $
25,028
     $
—
     $
—
  
                                 
Restricted cash equivalents
   $
25
     $
25
     $
—
     $
—
  
                                 
v3.20.1
Note 5 - Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2020
Notes Tables  
Share-based Payment Arrangement, Activity [Table Text Block]
   
Three Months Ended March 31,
  
   
2020
    
2019
  
   
(Unaudited - In thousands)
  
General and administrative expense
   $
86
     $
417
  
    $
86
     $
417
  
v3.20.1
Note 7 - Net Income (Loss) Per Share (Tables)
 3 Months Ended
Mar. 31, 2020
Notes Tables  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
   
Three Months Ended March 31,
  
   
2020
    
2019
  
   
(Unaudited - In thousands, except per share data)
  
Basic:
      
 
      
 
Net income (loss)
   $
(16,008
 )   $
21,663
  
Weighted average common shares outstanding
    
20,686
      
20,585
  
Net income (loss) per share
   $
(0.77
 )   $
1.05
  
                 
Diluted:
      
 
      
 
Net income (loss) for dilutive share computation
   $
(16,008
 )   $
21,663
  
                 
Number of shares used in basic per share computation
    
20,686
      
20,585
  
Unvested restricted stock and DSU's
    
—
      
—
  
Employee stock options
    
—
      
—
  
Weighted average common shares outstanding
    
20,686
      
20,585
  
                 
Net income (loss) per dilutive share
   $
(0.77
 )   $
1.05
  
v3.20.1
Note 8 - Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2020
Notes Tables  
Schedule of Partner Company Ownership Interest [Table Text Block]
Company Name
  
Safeguard Primary Ownership as of March 31, 2020
  
Accounting Method
Aktana, Inc.
  
17.5%
  
Equity
Clutch Holdings, Inc.
  
41.2%
  
Equity
Flashtalking
  
13.4%
  
Other
InfoBionic, Inc.
  
25.2%
  
Equity
Lumesis, Inc.
  
43.5%
  
Equity
MediaMath, Inc.
  
13.3%
  
Other
meQuilibrium
  
32.7%
  
Equity
Moxe Health Corporation
  
29.9%
  
Equity
Prognos Health Inc.
  
28.7%
  
Equity
QuanticMind, Inc.
  
24.2%
  
Equity
Sonobi, Inc.
  
21.6%
  
Equity
Syapse, Inc.
  
20.0%
  
Equity
T-REX Group, Inc.  
13.7%
  
Other
Trice Medical, Inc.
  
16.6%
  
Equity
WebLinc, Inc.
  
38.5%
  
Equity
Zipnosis, Inc.
  
37.7%
  
Equity
v3.20.1
Note 9 - Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2020
Notes Tables  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
   
Operating lease payments
    
Expected sublease receipts
  
   
(Unaudited - In thousands)
  
2020 (nine months ending December 31)
   $
530
     $
384
  
2021
    
595
      
525
  
2022
    
601
      
540
  
2023
    
607
      
556
  
2024
    
613
      
573
  
2025
    
619
      
590
  
Thereafter
    
207
      
199
  
Total future minimum lease payments
    
3,772
     $
3,367
  
Less imputed interest
    
(1,089
 )    
 
  
Total operating lease liabilities
   $
2,683
      
 
  
v3.20.1
Note 1 - General (Details Textual) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Cash and Cash Equivalents, at Carrying Value, Ending Balance $ 20,933 $ 25,028
v3.20.1
Note 2 - Ownership Interests In and Advances (Details Textual)
$ in Millions
 3 Months Ended
Mar. 31, 2020
USD ($)
Equity Securities, FV-NI, Unrealized Gain (Loss), Total $ 1.5
Fair Value, Inputs, Level 3 [Member]  
Equity Securities, FV-NI 12.5
WebLinc, Inc and QuanticMind, Inc [Member]  
Equity Method Investment, Other than Temporary Impairment 6.2
T-REX Group and Other Companies [Member]  
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount $ 5.1
v3.20.1
Note 2 - Ownership Interests In and Advances to Partner Companies - Carrying Value of Ownership Interests (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Equity Method Companies $ 29,560 $ 34,542
Other Companies 23,917 27,484
Advances to companies 13,321 15,103
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total 66,798 77,129
Partnership Interest [Member]    
Equity Method Companies 29,289 34,271
Other Companies 23,464 27,031
Private Equity Funds [Member]    
Equity Method Companies 271 271
Other Companies $ 453 $ 453
v3.20.1
Note 2 - Ownership Interests In and Advances - Results of Operations (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Revenue $ 47,414 $ 43,868
Gross profit 29,506 24,589
Net loss $ (14,604) $ (33,616)
v3.20.1
Note 3 - Acquisitions of Ownership Interests (Details Textual) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Payments to Acquire Equity Method Investments $ 1,000  
Equity Method Investments 29,560   $ 34,542
meQuilibrium [Member]      
Convertible Bridge Loan 1,000    
Payments to Acquire Equity Method Investments   $ 13,000  
Syapse, Inc. [Member]      
Payments to Acquire Equity Method Investments 600    
Equity Method Investments 20,600    
Trice Medical [Member]      
Convertible Bridge Loan 300    
Equity Method Investments 10,200    
QuanticMind [Member]      
Convertible Bridge Loan 200    
Equity Method Investments 13,500    
WebLinc, Inc. [Member]      
Convertible Bridge Loan 100    
Equity Method Investments $ 16,100    
v3.20.1
Note 4 - Fair Value Measurements - Fair Value of Assets and Liabilities Measured On Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Cash and cash equivalents $ 20,933 $ 25,028
Restricted cash equivalents 25 25
Restricted cash equivalents 25 25
Fair Value, Inputs, Level 1 [Member]    
Cash and cash equivalents 20,933 25,028
Restricted cash equivalents 25 25
Restricted cash equivalents 25 25
Fair Value, Inputs, Level 2 [Member]    
Cash and cash equivalents
Restricted cash equivalents
Restricted cash equivalents
Fair Value, Inputs, Level 3 [Member]    
Cash and cash equivalents
Restricted cash equivalents
Restricted cash equivalents
v3.20.1
Note 5 - Stock-Based Compensation (Details Textual) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares) 7 0
v3.20.1
Note 5 - Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Stock-based compensation expense $ 86 $ 417
General and Administrative Expense [Member]    
Stock-based compensation expense $ 86 $ 417
v3.20.1
Note 6 - Income Taxes (Details Textual) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Tax Expense (Benefit), Total $ 0 $ 0
v3.20.1
Note 7 - Net Income (Loss) Per Share (Details Textual) - $ / shares
shares in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Share-based Payment Arrangement, Option [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) 0.2 0.3
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) $ 10.37 $ 9.83
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) $ 18.45 $ 19.41
Restricted Stock, Performance-based Stock Units, and Deferred Stock Units [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) 0.3 0.7
v3.20.1
Note 7 - Net Income (Loss) Per Share - Calculations of Net Income (Loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Basic:    
Net income (loss) $ (16,008) $ 21,663
Basic (in shares) 20,686 20,585
Basic (in dollars per share) $ (0.77) $ 1.05
Diluted:    
Net income (loss) $ (16,008) $ 21,663
Basic (in shares) 20,686 20,585
Unvested restricted stock and DSU's (in shares)
Employee stock options (in shares)
Diluted (in shares) 20,686 20,585
Diluted (in dollars per share) $ (0.77) $ 1.05
v3.20.1
Note 8 - Segment Reporting (Details Textual)
 3 Months Ended
Mar. 31, 2020
Number of Operating Segments 1
Number of Non-consolidated Partner Companies 13
v3.20.1
Note 8 - Segment Reporting - Active Partner Companies by Segment (Details)
Mar. 31, 2020
Aktana, Inc. [Member]  
Ownership Interest Under Equity Method, Percent 17.50%
Clutch Holdings [Member]  
Ownership Interest Under Equity Method, Percent 41.20%
Flashtalking [Member]  
Ownership Interest Under Other Method, Percent 13.40%
InfoBionic, Inc. [Member]  
Ownership Interest Under Equity Method, Percent 25.20%
Lumesis, Inc. [Member]  
Ownership Interest Under Equity Method, Percent 43.50%
MediaMath, Inc. [Member]  
Ownership Interest Under Other Method, Percent 13.30%
meQuilibrium [Member]  
Ownership Interest Under Equity Method, Percent 32.70%
Moxe Health Corporation [Member]  
Ownership Interest Under Equity Method, Percent 29.90%
Prognos Health, Inc. [Member]  
Ownership Interest Under Equity Method, Percent 28.70%
QuanticMind [Member]  
Ownership Interest Under Equity Method, Percent 24.20%
Sonobi [Member]  
Ownership Interest Under Equity Method, Percent 21.60%
Syapse, Inc. [Member]  
Ownership Interest Under Equity Method, Percent 20.00%
T-Rex Group, Inc [Member]  
Ownership Interest Under Other Method, Percent 13.70%
Trice Medical, Inc. [Member]  
Ownership Interest Under Equity Method, Percent 16.60%
WebLinc, Inc. [Member]  
Ownership Interest Under Equity Method, Percent 38.50%
Zipnosis [Member]  
Ownership Interest Under Equity Method, Percent 37.70%
v3.20.1
Note 9 - Commitments and Contingencies (Details Textual)
$ in Millions
 3 Months Ended
Mar. 31, 2020
USD ($)
Deferred Compensation Liability, Current and Noncurrent, Total $ 0.8
Employee and Severance Agreement, Maximum Aggregate Exposure 2.2
Employee Severance [Member]  
Restructuring Charges, Total $ 1.7
Minimum [Member]  
Long-term Incentive Plan, Bonus Pool, Percent of Proceeds Received 1.00%
Maximum [Member]  
Long-term Incentive Plan, Bonus Pool, Percent of Proceeds Received 1.333%
Private Equity Funds [Member]  
Guarantor Obligations, Current Carrying Value $ 3.8
v3.20.1
Note 9 - Commitments and Contingencies - Operating Lease Cash Flow (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
2020 (nine months ending December 31) $ 530
2020 (nine months ending December 31) 384
2021 595
2021 525
2022 601
2022 540
2023 607
2023 556
2024 613
2024 573
2025 619
2025 590
Thereafter 207
Thereafter 199
Total future minimum lease payments 3,772
Total future minimum lease payments 3,367
Less imputed interest (1,089)
Total operating lease liabilities $ 2,683
v3.20.1
Note 10 - Equity (Details Textual) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Feb. 28, 2019
Jul. 31, 2015
Stock Repurchase Program, Authorized Amount       $ 25
Treasury Stock, Shares, Acquired (in shares) 0 0    
Sale of Stock, Individual Ownership, Percent, Maximum     4.99%  
Preferred Stock Purchase Right to be Exchanged for Common Stock Above Maximum Ownership Threshold (in shares)     1