0001299969-24-000006 | 10-K/A | XBRL Viewer | Comstock Holding Companies INC

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Income Tax - Schedule of Income Tax Provision for Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ 0	$ 0
State	180	104
Total current taxes	180	104
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	1,281	358
State	(195)	1,302
Total deferred taxes	1,086	1,660
Valuation allowance	(1,141)	(12,981)
Provision for (benefit from) income taxes	$ 125	$ (11,217)

Summary of Significant Accounting Policies - Fixed Assets are Carried at Cost Less Accumulated Depreciation (Detail)	12 Months Ended
	Dec. 31, 2022
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life	7 years
Office equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Computer equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Capitalized software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity

Common Stock

The Company's certificate of incorporation authorizes the issuance of Class A common stock and Class B common stock, each with a par value of $0.01 per share. Holders of Class A common stock and Class B common stock are entitled to dividends when,

as and if, declared by the Company's board of directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to fifteen votes per share. Shares of our Class B common stock are convertible into an equivalent number of shares of our Class A common stock and generally convert into shares of our Class A common stock upon transfer. As of December 31, 2022, the Company had not declared any dividends.

Preferred Stock

The Company's certificate of incorporation authorizes the issuance of Series C non-convertible preferred stock with a par value of $0.01 per share. Series C Preferred Stock has a discretionary, non-cumulative, dividend feature and is redeemable by holders in the event of liquidation or change in control of the Company.

On June 13, 2022, the Company entered into a Share Exchange and Purchase Agreement ("SEPA") with CPRES, pursuant to which the Company acquired from CPRES all outstanding shares of its non-convertible and non-redeemable Series C preferred stock for (i) 1.0 million shares of the Company’s Class A common stock, valued at the consolidated closing bid price of the Class A shares on Nasdaq on the business day immediately preceding the entry into the SEPA and (ii) $4.0 million in cash. The SEPA was unanimously approved by the independent directors of the Company. Upon completion of the transaction, all of the shares of Series C preferred stock were immediately cancelled and fully retired.

At the time of the transaction, the total carrying value of the Series C preferred stock (including the related additional paid-in capital) was $10.3 million. The share exchange was accounted for as a redemption; therefore, the $2.0 million difference between the carrying value and the $8.3 million fair value of the consideration paid upon redemption was added to net income to arrive at income attributable to common stockholders and calculate net income (loss) per share. (See Note 13 for additional information)

Stock-based Compensation

On February 12, 2019, the Company approved the 2019 Omnibus Incentive Plan (the “2019 Plan”), which replaced the 2004 Long-Term Compensation Plan (the “2004 Plan”). The 2019 Plan provides for the issuance of stock options, stock appreciation rights ("SARs"), restricted stock, restricted stock units, dividend equivalents, performance awards, and stock or other stock-based awards. The 2019 Plan mandates that all lapsed, forfeited, expired, terminated, cancelled and withheld shares, including those from the predecessor plan, be returned to the 2019 Plan and made available for issuance. The 2019 Plan originally authorized 2.5 million shares of the Company's Class A common stock for issuance. As of December 31, 2022, there were 1.6 million shares of Class A common stock available for issuance under the 2019 Plan.

During the years ended December 31, 2022 and 2021, the Company recorded stock-based compensation expense of $0.8 million and $0.6 million, respectively. Stock-based compensation costs are included in selling, general, and administrative expense on the Company's consolidated statements of operations. As of December 31, 2022, there was $0.7 million of total unrecognized stock-based compensation, which is expected to be recognized over a weighted-average period of 2.84 years.

Restricted Stock Units

Restricted stock unit (“RSU”) awards granted to employees are subject to continued employment and generally vest in four annual installments over the four years period following the grant dates. The Company also grants certain RSU awards to management that contain additional vesting conditions tied directly to a defined performance metric for the Company (“PSUs”). The actual number of PSUs that will vest can range from 60% to 120% of the original grant target amount, depending upon actual Company performance below or above the established performance metric targets. The Company estimates performance in relation to the defined targets when calculating the related stock-based compensation expense.

The following table summarizes all restricted stock unit activity (in thousands, except per share data):


	RSUs Outstanding	Weighted-Average Grant Date Fair Value
Balance as of December 31, 2021	847	$	2.28
Granted	219	4.63


Released	(223)	2.64
Canceled/Forfeited	(141)	2.51
Balance as of December 31, 2022	702	$	2.95

Stock Options

Non-qualified stock options generally expire 10 years after the grant date and, except under certain conditions, the options are subject to continued employment and vest in four annual installments over the four-year period following the grant dates.

The following table summarizes all stock option activity (in thousands, except per share data and time periods):


	Options Outstanding	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance as of December 31, 2021	397	$	2.89	5.7	$	998
Granted	—	—
Exercised	(203)	3.14
Canceled/Forfeited	(3)	2.24
Expired	(60)	3.97
Balance as of December 31, 2022	131	$	4.08	4.4	$	172
Exercisable as of December 31, 2022	125	$	4.18	3.2	$	158

The Company granted no stock options during the years ended December 31, 2022 and 2021. The total grant date fair value of stock options vested and total intrinsic value of stock options exercised for the years ended December 31, 2022 and 2021 were immaterial.

Revenue - Narrative (Details) $ in Millions	12 Months Ended
Revenue - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Incentive fee revenue	$ 3.9

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of match	3.00%
Defined contribution plan, employer matching contribution, percent of employees' gross pay	3.00%
Defined contribution plan, cost	$ 0.5	$ 0.4
Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employers matching contribution, annual vesting percentage	1.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employers matching contribution, annual vesting percentage	90.00%
Defined contribution plan, employer matching contribution, percent of employees' gross pay	4.00%

Discontinued Operations - Summary of Assets and Liabilities from Discontinued Operations (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	$ 504	$ 46
Prepaid expenses and other current assets	264	197
Total current assets	15,781	20,076
Fixed assets, net	421	264
Total assets	42,473	43,602
Accounts payable and accrued liabilities	742	783
Total liabilities	$ 13,619	18,306
Discontinued Operations, Held-for-sale \| CES
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net		2,075
Prepaid expenses and other current assets		129
Total current assets		2,204
Fixed assets, net		106
Intangible assets, net		3
Total assets		2,313
Accrued personnel costs		153
Accounts payable and accrued liabilities		1,015
Loans payable		26
Total liabilities		$ 1,194

Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

All the Company's revenue was for the years ended December 31, 2022 and 2021 was generated in the United States. The following tables summarize the Company’s revenue by line of business, customer type, and contract type (in thousands):


	Year Ended December 31,
		2022		2021
Revenue by Line of Business
Asset management		$	26,680	$	22,539
Property management		9,398		6,939
Parking management		3,235		1,615
Total revenue		$	39,313	$	31,093


	Year Ended December 31,
		2022		2021
Revenue by Customer Type
Related party		$	38,719	$	30,887
Commercial		594		206
Total revenue		$	39,313	$	31,093


	Year Ended December 31,
		2022		2021
Revenue by Contract Type1
Fixed-price		$	7,048	$	7,626
Cost-plus		22,652		16,729
Variable		9,613		6,738
Total revenue		$	39,313	$	31,093

1 Certain contracts contain multiple revenue streams with characteristics that lend to classification in more than one category

For the year ended December 31, 2022, the Company recognized revenue from Incentive Fees of $3.9 million, stemming from an operating asset triggering event on October 1, 2022. This operating asset triggering event was the first in series of annual operating asset triggering events that are scheduled each October 1 through 2024. All Incentive Fees recognized in the current period are related to services performed in prior periods for which revenue recognition criteria were previously constrained. There was no Incentive Fee revenue recognized for the year ended December 31, 2021.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Summary of Discontinued Operations in Financial Statements

The following table reconciles major line items constituting pretax income (loss) from discontinued operations to net income (loss) from discontinued operations as presented in the consolidated statements of operations (in thousands):


	Year Ended December 31,
		2022		2021
Revenue		$	1,460	$	7,400
Cost of revenue		(1,562)		(5,571)
Selling, general, and administrative		(403)		(2,417)
Depreciation and amortization		—		(60)
Other income (expense)		87		(103)
Goodwill impairment		—		(1,702)
Pre-tax income (loss) from discontinued operations		(418)		(2,453)
Provision for (benefit from) income tax		(37)		(23)
Net income (loss) from discontinued operations		$	(381)	$	(2,430)

The following table reconciles the carrying amounts of major classes of assets and liabilities of discontinued operations to total assets and liabilities of discontinued operations that were classified as held for sale in the consolidated balance sheet as of December 31, 2021 (in thousands):


Carrying amounts of major classes of assets held for sale:
Accounts receivable	$	2,075

Prepaid expenses and other current assets	129
Total current assets	2,204
Fixed assets, net	106

Intangible assets, net	3
Total assets	$	2,313

Carrying amounts of major classes of liabilities held for sale:
Accrued personnel costs	$	153
Accounts payable and accrued liabilities	1,015
Loans payable	26
Total liabilities	$	1,194

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Leases - Additional Information (Detail)	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease remaining lease term	7 years 9 months
Operating lease, weighted average discount rate, percent	4.25%
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	10 years

Investments in Real Estate Ventures - Schedule of Equity Method Investments, Group of Investment Consolidated Balance Sheet at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in real estate ventures	$ 7,013	$ 4,702
Investors X
Schedule of Equity Method Investments [Line Items]
Investments in real estate ventures	1,369	1,484
The Hartford
Schedule of Equity Method Investments [Line Items]
Investments in real estate ventures	953	1,211
BLVD Forty Four
Schedule of Equity Method Investments [Line Items]
Investments in real estate ventures	2,135	2,007
BLVD Ansel
Schedule of Equity Method Investments [Line Items]
Investments in real estate ventures	$ 2,556	$ 0

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash paid for lease liabilities:
Operating cash flows from operating leases	$ 1,350	$ 1,213

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Activities - Continuing Operations
Net income (loss) from continuing operations	$ 7,728	$ 16,039
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating activities:
Depreciation and amortization	206	94
Stock-based compensation	834	633
(Gain) loss on real estate ventures	(121)	14
Distributions from real estate ventures	162	0
Deferred income taxes	(55)	(11,300)
Changes in operating assets and liabilities:
Accounts receivable	(1,932)	1,886
Prepaid expenses and other current assets	(67)	(11)
Accrued personnel costs	1,491	1,135
Accounts payable and accrued liabilities	(41)	(41)
Other assets and liabilities	192	239
Net cash provided by (used in) operating activities	8,397	8,688
Investing Activities - Continuing Operations
Investments in real estate ventures	(2,709)	(2,058)
Proceeds from sale of CES	1,016	0
Distributions from real estate ventures	220	3,522
Purchase of fixed assets/leasehold improvements/intangibles	(626)	(188)
Net cash provided by (used in) investing activities	(2,099)	1,276
Financing Activities - Continuing Operations
Payments under credit facility - due to affiliates	(5,500)	0
Loan proceeds	0	121
Loan payments	0	(126)
Redemption of Series C preferred stock	(4,000)	0
Payment of taxes related to the net share settlement of equity awards	(568)	(222)
Net cash provided by (used in) financing activities	(10,068)	(227)
Discontinued Operations
Operating cash flows, net	(305)	(881)
Investing cash flows, net	0	(36)
Financing cash flows, net	(26)	(29)
Net cash provided by (used in) discontinued operations	(331)	(946)
Net increase (decrease) in cash and cash equivalents	(4,101)	8,791
Cash and cash equivalents, beginning of period	15,823	7,032
Cash and cash equivalents, end of period	11,722	15,823
Supplemental Cash Flow Information
Cash paid for interest	222	234
Cash paid for income tax, net	92	8
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Issuance of Series A common stock to redeem Series C preferred stock	4,230	0
Right of use assets and lease liabilities at commencement	1,224	0
Accrued liability settled through issuance of common stock	$ 0	$ 28

Investments in Real Estate Ventures - Summarized Financial Information for Unconsolidated Joint Venture (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Operating income (loss)	$ 7,952	$ 5,065
Net income (loss)	7,347	13,609
Level 3
Schedule of Equity Method Investments [Line Items]
Revenue	20,825	17,670
Operating income (loss)	11,550	8,878
Net income (loss)	$ (7,360)	$ (316)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company maintains certain non-cancelable operating leases that contain various renewal options. (See Note 6 for additional information) The Company is subject to litigation from time to time in the ordinary course of business; however, the Company does not expect the results, if any, to have a material adverse impact on its results of operations, financial position, or liquidity. The Company records a contingent liability when it is both probable that a liability has been incurred and the amount can be reasonably estimated; however, the Company is not aware of any reasonably possible losses that would have a material impact on its results of operations, financial position, or liquidity. The Company expenses legal defense costs as they are incurred.

Investments in Real Estate Ventures - Narrative (Detail) $ in Millions	1 Months Ended			12 Months Ended
	Mar. 31, 2022 ft² unit	Oct. 31, 2021 ft² unit	Dec. 31, 2019 ft²	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Feb. 29, 2020 USD ($)
Schedule of Equity Method Investments [Line Items]
Proportionate share of net income and distributions, amount \| $				$ (0.1)	$ (0.1)
The Hartford
Schedule of Equity Method Investments [Line Items]
Number of square foot			211,000
Maximum borrowing capacity \| $						$ 87.0
The Hartford \| Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Ownership percentage				2.50%
BLVD Forty Four
Schedule of Equity Method Investments [Line Items]
Number of square foot		16,000
Number of units in property \| unit		263
BLVD Forty Four \| Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Ownership percentage				5.00%
BLVD Ansel
Schedule of Equity Method Investments [Line Items]
Number of square foot	20,000
Number of units in property \| unit	250
Number of parking spaces	611
BLVD Ansel \| Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Ownership percentage				5.00%

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Fixed Assets' Estimated Useful Lives

Fixed assets are carried at cost less accumulated depreciation and are depreciated on a straight-line basis over their estimated useful lives, which are as follows:


Asset Class						Estimated Useful Life
Leasehold improvements						Shorter of asset life or related lease term
Furniture and fixtures						7 years
Office equipment						5 years
Vehicles						5 years
Computer equipment						3 years
Capitalized software						3 years

Leases - Schedule of Lease Cost and Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lease, Cost [Abstract]
Fixed lease costs	$ 1,045	$ 994
Variable lease costs	361	318
Total operating lease costs	$ 1,406	$ 1,312

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

The Company has operating leases for office space leased in various buildings for its own use. The Company's leases have remaining terms ranging from 5 to 10 years. The Company's lease agreements do not contain any residual value guarantees or material restrictive covenants. Lease costs related to the Company's operating leases are primarily reflected in "cost of revenue" in the consolidated statements of operations, as they are a reimbursable cost under the Company's respective asset management agreements. (See Note 14 for additional information).

The following table summarizes operating lease costs, by type (in thousands):


	Year Ended December 31,
		2022		2021
Operating lease costs
Fixed lease costs		$	1,045	$	994
Variable lease costs		361		318
Total operating lease costs		$	1,406	$	1,312

The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):


	Year Ended December 31,
		2022		2021
Cash paid for lease liabilities:
Operating cash flows from operating leases		$	1,350	$	1,213

As of December 31, 2022 the Company's operating leases had a weighted-average remaining lease term of 7.75 years and a weighted-average discount rate of 4.25%.

The following table summarizes future lease liability payments (in thousands):


Year Ending December 31,	Operating Leases
2023	$	1,141
2024	1,167
2025	1,194
2026	1,222
2027	1,204
Thereafter	3,568
Total future lease payments	9,496
Imputed interest	(1,578)
Total lease liabilities	$	7,918

The Company does not have any lease liabilities which have not yet commenced as of December 31, 2022.

Fair Value Disclosures	12 Months Ended
Fair Value Disclosures	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures As of December 31, 2022, the carrying amount of cash and cash equivalents, accounts receivable, other current assets, and accounts payable approximated fair value because of the short-term nature of these instruments. As of December 31, 2022, the Company had certain equity method investments in real estate ventures that it elected to record at fair value using significant unobservable inputs (Level 3). (See Note 5 for additional information) The Company may also value its non-financial assets and liabilities, including items such as long-lived assets, at fair value on a non-recurring basis if it is determined that impairment has occurred. Such fair value measurements typically use significant unobservable inputs (Level 3), unless a quoted market price (Level 1) or quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets, or amounts derived from valuation models (Level 2) are available.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Fixed Assets & Intangible Assets - Fixed Assets are Carried at Cost Less Accumulated Depreciation (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 761	$ 1,275
Accumulated depreciation	(340)	(1,011)
Total fixed assets, net	421	264
Computer equipment and capitalized software
Property, Plant and Equipment [Line Items]
Total fixed assets	538	1,106
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total fixed assets	80	77
Office equipment
Property, Plant and Equipment [Line Items]
Total fixed assets	60	46
Vehicles
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 83	$ 46

Company Overview (Details) $ in Millions	Dec. 31, 2022 subsidiary	Mar. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of subsidiaries \| subsidiary	4
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| CES
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, consideration \| $		$ 1.4

Income Tax

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Tax

The following table summarizes the components of the provision for (benefit from) income tax (in thousands):


	Year Ended December 31,
	2022		2021
Current:
Federal	$	—	$	—
State	180		104
Total current taxes	180		104

Deferred:
Federal	1,281		358
State	(195)		1,302
Total deferred taxes	1,086		1,660

Other:
Valuation allowance	(1,141)		(12,981)

Provision for (benefit from) income taxes	$	125	$	(11,217)

The following table presents a reconciliation the statutory federal income tax rate to the Company's effective income tax rate:


	Year Ended December 31,
	2022		2021
Federal statutory rate	21.00	%	21.00	%
State income taxes, net of federal benefit	5.67	%	5.17	%
Permanent differences	(2.40)	%	(1.08)	%
Return to provision	0.00	%	0.00	%
Change in valuation allowance	(14.54)	%	(266.00)	%
Change in state tax rate	(5.70)	%	(0.26)	%
Other	(2.45)	%	8.55	%
Effective tax rate	1.59	%	(232.62)	%

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Prior to 2021, the Company had recorded valuation allowances for certain tax attributes and deferred tax assets due the existence of sufficient uncertainty regarding the future realization of those deferred tax assets through future taxable income. In June 2021, based on financial performance trends and forecasts of future operating results, the Company determined that it was more likely than not that a portion of the deferred tax assets related to its net operating loss ("NOL") carryforwards would be utilized in future periods. As a result, the Company recorded an $11.3 million income tax benefit in the second quarter of 2021 that represented a partial release of its valuation allowance. For the years ended December 31, 2022 and 2021, the Company recorded net decreases to its valuation allowance of $1.4 million and $13.0 million, respectively. If, in the future, the Company believes that it is more likely than not that the rest of the deferred tax benefits will be realized, the full valuation allowance will be reversed. Conversely, if future results of operations are lower than currently forecasted, the Company may need to re-establish a valuation allowance accordingly.

The following table summarizes the components of the Company's deferred tax assets and liabilities (in thousands):


	December 31,
	2022		2021
Deferred tax assets:
Net operating loss and tax credit carryforwards	$	33,532	$	34,773
Stock-based compensation	481		485
Investments in affiliates	1,237		1,335
Right of use lease liability	2,017		1,935
Bonus accrual	1,246		917

Goodwill amortization	(1)		362

Valuation allowance	(25,214)		(26,599)
Total deferred tax assets	13,298		13,208

Deferred tax liabilities:
Right of use lease asset	(1,943)		(1,904)
Depreciation and amortization	—		(4)

Total deferred tax liabilities	(1,943)		(1,908)

Net deferred income tax assets (liabilities)	$	11,355	$	11,300

As of December 31, 2022, the Company had $131.7 million of net operating loss (“NOL") carryforwards. These NOLs, if unused, will begin expiring in 2028. Under Code Section 382 (“Section 382”) rules, if a change of ownership is triggered, the Company’s NOL assets and possibly certain other deferred tax assets may be impaired. Given Section 382’s broad definition, an ownership change could be the unintended consequence of otherwise normal market trading in the Company’s stock that is outside of the Company’s control. In an effort to preserve the availability of these NOLs, the Company has adopted a Section 382 rights agreement that is scheduled to expire on March 27, 2025. The Section 382 rights agreement helps to reduce the likelihood of an unintended “ownership change”, thus preserving the value of these future tax benefits. We estimate that as of December 31, 2022, the three-year cumulative shift in ownership of the Company’s stock had not triggered a limitation in the use of our NOL asset.

As of December 31, 2022, there were no uncertain tax positions that, if recognized, would affect the Company's effective tax rate. We file U.S. and state income tax returns in jurisdictions with varying statutes of limitations. All of our income tax returns remain subject to examination by federal and state tax authorities due to the availability of our NOL carryforwards.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company and its consolidated subsidiaries. Intercompany balances and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to current period presentation.

The Company has reflected CES as a discontinued operation in its consolidated statements of operations for all periods presented. Unless otherwise noted, all amounts and disclosures throughout these Notes to Consolidated Financial Statements relate to the Company's continuing operations. (See Note 3 for additional information).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Significant items subject to such estimates, include, but are not limited to, the valuation of equity method investments, incentive fee revenue recognition, and the valuation of deferred tax assets. Assumptions made in the development of these estimates contemplate both the macroeconomic landscape and the Company's anticipated results, however actual results may differ materially from these estimates.

Fiscal Year

Comstock uses a fiscal reporting calendar which begins on January 1 and ends on December 31. The fiscal years presented are the years ended December 31, 2022 (“2022”) and December 31, 2021 (“2021”). Each of the Company’s fiscal quarters ends on the last day of the calendar month.

Segment Information

Operating segments are defined as components of a business that can earn revenue and incur expenses for which discrete financial information is evaluated on a regular basis by the chief operating decision maker (“CODM”) in order to decide how to allocate resources and assess performance.

Prior to June 30, 2021, the Company operated its business through two segments: Asset Management and Real Estate Services. Given the classification of CES as a discontinued operation, the Company now manages its business as one reportable operating segment.

Cash and Cash Equivalents

Cash and cash equivalents are comprised of cash and short-term investments with maturities of three months or less when purchased. The carrying amount of cash equivalents approximates fair value due to the short-term maturity of these investments.

Accounts Receivable

Accounts receivable are recorded at the amount invoiced. The Company records an allowance for doubtful accounts on an as-needed basis to reduce the trade accounts receivables balance by the estimated amounts that may become uncollectible in the future. The allowance for doubtful accounts estimate is based on the accounts receivable aging report, historical collection experience, and the payee's general financial condition. The Company does not record an allowance for doubtful accounts on accounts receivable from related parties due to the nature of the receivables and collection history. As of December 31, 2022, the Company's allowance for doubtful accounts was $0.1 million.

Concentrations of Credit Risk

Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable from related parties. The Company maintains cash and cash equivalents in financial institutions that management believes to be financially sound and with minimal credit risk. At times the Company's deposits exceed federally insured limits, however management believes that the Company’s credit risk exposure is mitigated by the financial strength of the banking institutions in which the deposits are held. The Company does a significant amount of business with related parties, demonstrated by related parties accounting for 98.5% of its consolidated revenue and 86.7% of its accounts receivable in 2022. The Company generally does not obtain collateral or other security to support financial instruments subject to credit risk, but monitors the credit standing of its related party entities.

Investments in Real Estate Ventures

The Company invests in certain real estate ventures that qualify for equity method accounting treatment. Based on elections made at the investment date, the Company has elected to record certain equity method investments at fair value. With this treatment, investments are recorded at fair value on the consolidated balance sheets and subsequently remeasured at each reporting period. The fair value of these investments as of the balance sheet date is generally determined using a discounted cash flow analysis, income approach, or sales-comparable approach, depending on the unique characteristics of the real estate venture. Assumptions about the discount rate are based on a weighted average cost of capital built up from various interest rate components applicable to the Company. Assumptions about the growth rate and future financial performance of a reporting unit are based on the Company's forecasts, business plans, economic projections and anticipated future cash flows. Market multiples are derived from recent transactions among comparable real estate properties of similar size, construct, and location. The net change in the fair value of the investments is recorded on the consolidated statements of operations as other income (expense).

In addition, the Company performs an analysis on its investments in real estate ventures to determine if they qualify as a variable interest entity (“VIE”). For an entity in which we have acquired an interest, the entity will be considered a VIE if either of the following characteristics are met: (i) the entity lacks sufficient equity to finance its activities without additional subordinated financial support, or (ii) equity holders, as a group, lack the characteristics of a controlling financial interest. If an entity is determined to be a VIE, the Company then determines if it is the primary beneficiary to determine if the entity needs to be included in its consolidated financial results. The primary beneficiary has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the entity. The Company considers a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance, including evaluating the nature of relationships and activities of the parties involved and, where necessary, determining which party within a related-party group is most closely associated with the VIE and would therefore be considered the primary beneficiary. The Company determines primary beneficiary status of a VIE at the time of investment and performs ongoing reassessments to evaluate whether changes in the entity’s capital structure or changes in the nature of its involvement with the entity result in a change to the VIE designation or a change to its consolidation conclusion. (See Note 5 for additional information)

Fixed Assets

Fixed assets are carried at cost less accumulated depreciation and are depreciated on a straight-line basis over their estimated useful lives, which are as follows:


Asset Class						Estimated Useful Life
Leasehold improvements						Shorter of asset life or related lease term
Furniture and fixtures						7 years
Office equipment						5 years
Vehicles						5 years
Computer equipment						3 years
Capitalized software						3 years

Evaluation of Long-Lived Assets

The Company evaluates the recoverability of its long-lived assets for impairment whenever events or circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability is measured by comparing the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset.

Goodwill and Intangible Assets

On an annual basis, and at interim periods when circumstances require, the Company tests the recoverability of any goodwill and intangible assets balances that exist at that time and reviews for indicators of impairment. The Company performs impairment assessments at the reporting unit level, which is defined as an operating segment or one level below an operating segment, also known as a component. To test for the recoverability of goodwill and indefinite-lived intangible assets, the Company first performs a qualitative assessment based on economic, industry and company-specific factors for all or selected reporting units to determine whether the existence of events and circumstances indicates that it is more likely than not that the goodwill or indefinite-lived intangible asset is impaired. Based on the results of the qualitative assessment, two additional steps in the impairment assessment may be required. The first step would require a comparison of each reporting unit’s fair value to the respective carrying value. If the carrying value exceeds the fair value, a second step is performed to measure the amount of impairment loss on a relative fair value basis, if any.

Fair Value Measurement

The Company applies fair value accounting for all financial assets and liabilities that are reported at fair value in the financial statements on a recurring basis. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a defined three-tier hierarchy to classify and disclose the fair value of assets and liabilities on both the date of their initial measurement as well as all subsequent periods. The hierarchy prioritizes the inputs used to measure fair value by the lowest level of input that is available and significant to the fair value measurement. The three levels are described as follows:

•Level 1: Observable inputs. Quoted prices in active markets for identical assets and liabilities;

•Level 2: Observable inputs other than the quoted price. Includes quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets and amounts derived from valuation models where all significant inputs are observable in active markets; and

•Level 3: Unobservable inputs. Includes amounts derived from valuation models where one or more significant inputs are unobservable and require the Company to develop relevant assumptions.

The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification as of each reporting period.

Leases

The determination of whether an arrangement contains a lease and the classification of a lease, if applicable, is made at lease commencement, at which time the Company also measures and recognizes a right-of-use ("ROU") asset, representing the Company’s right to use the underlying asset, and a lease liability, representing the Company’s obligation to make lease payments under the terms of the arrangement. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments (e.g. rent) over the lease term beginning at the commencement date. The operating lease assets are adjusted for lease incentives, deferred rent, and initial direct costs, if incurred. The related lease expense is recognized on a straight-line basis over the lease term.

The Company's leases generally do not include an implicit rate; therefore, an incremental borrowing rate is used that is based on information available at the lease commencement date in determining the present value of future minimum lease payments. The Company typically looks to the floating rate of interest charged under the Company's existing credit facility at the time of lease commencement when determining the incremental borrowing rate.

For the purposes of recognizing operating lease assets and liabilities, the Company has elected the practical expedient to not recognize an asset or lease liability for short-term leases, which are leases with a term of twelve months or less. The lease term is defined as the non-cancelable portion of the lease term plus any periods covered by an option to extend the lease if it is reasonably certain that the option will be exercised.

Revenue

The Company’s revenue streams, revenue recognition policies, and cost of revenue details are summarized by the following:

Asset Management/Property Management

Asset management pricing includes a cost-plus management fee or a market-rate fee form of variable consideration, and the Company earns whichever is higher. Property Management pricing is generally in the form of a monthly management fee based upon property-level cash receipts, square footage under management, or some other variable metric. In addition, property management revenue includes reimbursable expenses such as payroll and other employee costs for those performing services at managed properties.

Asset and property management services represent a series of distinct daily services rendered over time. The revenue for asset and property management services is presented gross for any services provided by the Company's employees and presented net of third-party reimbursements in instances where the Company does not control third-party services delivered to the client. Consistent with the transfer of control for distinct, daily services to the customer, revenue is typically recognized at the end of each period for the fees associated with the services performed.

Capital Markets

Compensation for commercial mortgage and structured financing services is received via fees paid upon successful commercial financing from third-party lenders. The earned fees are contingent upon the funding of the loan, which represents the transfer of control for services to the customer. Therefore, the Company's performance obligation is satisfied at the point in time of the funding of the loan, when there is a present right to payment.

Leasing

Compensation for providing strategic advice and execution for owners, investors, and occupiers is received in the form of a commission. The commission is paid upon signing of the lease by the tenant, therefore the Company's performance obligation is satisfied at the time of the contractual event, where there is a present right to payment.

Project & Development Services

Fees for project and development services for owners and occupiers of real estate are typically variable and based on a percentage of the total project cost. Project and development services represent a series of performance obligations delivered over time, therefore the Company recognizes revenue over time for these services accordingly.

Incentive Fees

Pursuant to the 2022 AMA, incentive compensation fees revenue ("Incentive Fees") may be earned on certain managed real estate assets if defined triggering events, which are differentiated based on the classification of the assets, are achieved. (See Note 14 for additional information)

Incentive Fees are calculated as a percentage of the imputed profit that would be realized upon the hypothetical sale or recapitalization of the asset (or assets) for which triggering event criteria were met. The calculation of imputed profit is based on a fair market value assessment that includes highly variable financial inputs and must also consider macro-economic and environmental factors that may affect fair market value. Due to the subjective and potentially volatile nature of this variable consideration, revenue is only recognized on Incentive Fees for each managed asset when 1) any material uncertainties associated with the valuation of real estate assets that drive Incentive Fees are substantially resolved and 2) it is probable that a significant reversal in the amount of related cumulative Incentive Fee revenue recognized will not occur. As a result, the Company has only

recognized Incentive Fees at or near each asset's respective triggering event (as detailed in the 2022 AMA) when imputed profit can be reasonably calculated and relied upon to not materially change.

Cost of Revenue

Cost of revenue is composed primarily of employment expenses for personnel dedicated to providing services to the Anchor Portfolio as well as the costs and expenses of the Company related to maintaining the public listing of its shares and complying with related regulatory and reporting obligations pursuant to the 2022 AMA. It also includes payroll and other reimbursable expenses incurred under the Company's various property management agreements.

Stock-Based Compensation

Stock-based compensation expense for restricted stock units is measured based on the fair value of the Company’s common stock on the grant date. The Company utilizes the Black-Scholes option pricing model to estimate the grant-date fair value of stock option awards. The exercise price of stock option awards is set to equal the quoted closing market price of the underlying common stock at the date of the grant. The following weighted-average assumptions are also used to calculate the estimated fair value of stock option awards:

•Expected volatility: The expected volatility of the Company’s shares is estimated using the historical stock price volatility over the most recent period commensurate with the estimated expected term of the awards.

•Expected term: The Company determines the expected term by calculating the weighted-average period of time between the grant date and exercise or post-vesting cancellation date of all outstanding stock options.

•Dividend yield: The Company has not paid dividends and does not anticipate paying a cash dividend in the foreseeable future and, accordingly, uses an expected dividend yield of zero.

•Risk-free interest rate: The Company bases the risk-free interest rate on the implied yield available on a U.S. Treasury note with a term equal to the estimated expected term of the awards.

The Company applies the graded vesting attribution method to recognize compensation expense for stock-based awards. Using this method, the estimated grant-date fair value of the award is recognized over the requisite service period for each separately vesting tranche as though each tranche of the award is, in substance, a separate award. This advanced recognition expense from future vesting tranches results in the accelerated recognition of the overall compensation cost related to the award. The Company has elected to account for forfeitures as they occur. For awards with a performance-based vesting condition, the Company accrues stock-based compensation expense if it is probable that the performance condition will be achieved.

Income Taxes

Income taxes are accounted for under the asset and liability method in accordance with ASC 740. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We provide a valuation allowance when we consider it “more likely than not” (greater than 50% probability) that a deferred income tax asset will not be fully recovered. Adjustments to the valuation allowance are a component of the deferred income tax expense or benefit in the consolidated statements of operations.

For interim periods, an income tax provision (benefit) is recognized based on the estimated annual effective tax rate expected for the entire fiscal year. The interim annual estimated effective tax rate is based on the statutory tax rates then in effect, as adjusted for estimated changes in permanent differences, and excludes certain discrete items whose tax effect, when material, is recognized in the interim period in which they occur. These changes in permanent differences and discrete items result in variances to the effective tax rate from period to period. Impacts from significant pre-tax, non-recognized subsequent events are excluded from the interim estimated annual effective rate until the period in which they occur.

Net Income (Loss) per Share

Basic net income (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common share equivalents or any impacts from Preferred Stock activity. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock unit awards. Diluted net income (loss) per common share is calculated by dividing net income (loss) attributable to common stockholders by the fully diluted weighted-average number of common

shares outstanding during the period. The diluted weighted-average common shares outstanding amount includes the impact of common share equivalents, which are the incremental shares of common stock that would be issuable upon the hypothetical exercise of stock options and vesting of restricted stock unit awards. The common stock equivalents are calculated using the treasury stock method and average market prices during the periods, and are included in the diluted net income (loss) per share calculation unless their inclusion would be anti-dilutive.

Recent Accounting Pronouncements - Not Yet Adopted

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments.” This guidance is intended to introduce a revised approach to the recognition and measurement of credit losses, emphasizing an updated model based on current expected credit losses ("CECL") rather than incurred losses. The standard will become effective for the Company for financial statement periods beginning after December 15, 2022, and early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its financial statements and related disclosures.

Related Party Transactions - Schedule of Supplemental Fees (Details) - CDS	Jun. 13, 2022 $ / ft²
Incentive Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of market-to-market profit basis	20.00%
Cumulative, compounded, preferred return rate	8.00%
Percentage of cost-plus fee market-to-market profit basis	10.00%
Incentive Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Cumulative, compounded, preferred return rate	8.00%
Percentage of free cash flow from real estate assets	10.00%
Investment Origination Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of raised capital	1.00%
Investment Origination Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of raised capital	1.00%
Leasing Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Leasing fee per square foot for new leases	1
Leasing fee per square foot for renewal leases	0.50
Leasing Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Leasing fee per square foot for new leases	1
Leasing fee per square foot for renewal leases	0.50
Loan Origination Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of financing transaction	1.00%
Loan Origination Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of financing transaction	1.00%

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company and its consolidated subsidiaries. Intercompany balances and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to current period presentation. The Company has reflected CES as a discontinued operation in its consolidated statements of operations for all periods presented. Unless otherwise noted, all amounts and disclosures throughout these Notes to Consolidated Financial Statements relate to the Company's continuing operations. (See Note 3 for additional information).
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Significant items subject to such estimates, include, but are not limited to, the valuation of equity method investments, incentive fee revenue recognition, and the valuation of deferred tax assets. Assumptions made in the development of these estimates contemplate both the macroeconomic landscape and the Company's anticipated results, however actual results may differ materially from these estimates.
Fiscal Year	Fiscal Year Comstock uses a fiscal reporting calendar which begins on January 1 and ends on December 31. The fiscal years presented are the years ended December 31, 2022 (“2022”) and December 31, 2021 (“2021”). Each of the Company’s fiscal quarters ends on the last day of the calendar month.
Segment Information	Segment Information Operating segments are defined as components of a business that can earn revenue and incur expenses for which discrete financial information is evaluated on a regular basis by the chief operating decision maker (“CODM”) in order to decide how to allocate resources and assess performance. Prior to June 30, 2021, the Company operated its business through two segments: Asset Management and Real Estate Services. Given the classification of CES as a discontinued operation, the Company now manages its business as one reportable operating segment.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents are comprised of cash and short-term investments with maturities of three months or less when purchased. The carrying amount of cash equivalents approximates fair value due to the short-term maturity of these investments.
Accounts Receivable and Concentrations of Credit Risk	Accounts Receivable Accounts receivable are recorded at the amount invoiced. The Company records an allowance for doubtful accounts on an as-needed basis to reduce the trade accounts receivables balance by the estimated amounts that may become uncollectible in the future. The allowance for doubtful accounts estimate is based on the accounts receivable aging report, historical collection experience, and the payee's general financial condition. The Company does not record an allowance for doubtful accounts on accounts receivable from related parties due to the nature of the receivables and collection history. As of December 31, 2022, the Company's allowance for doubtful accounts was $0.1 million. Concentrations of Credit Risk Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable from related parties. The Company maintains cash and cash equivalents in financial institutions that management believes to be financially sound and with minimal credit risk. At times the Company's deposits exceed federally insured limits, however management believes that the Company’s credit risk exposure is mitigated by the financial strength of the banking institutions in which the deposits are held. The Company does a significant amount of business with related parties, demonstrated by related parties accounting for 98.5% of its consolidated revenue and 86.7% of its accounts receivable in 2022. The Company generally does not obtain collateral or other security to support financial instruments subject to credit risk, but monitors the credit standing of its related party entities.
Investments in Real Estate Ventures	Investments in Real Estate Ventures The Company invests in certain real estate ventures that qualify for equity method accounting treatment. Based on elections made at the investment date, the Company has elected to record certain equity method investments at fair value. With this treatment, investments are recorded at fair value on the consolidated balance sheets and subsequently remeasured at each reporting period. The fair value of these investments as of the balance sheet date is generally determined using a discounted cash flow analysis, income approach, or sales-comparable approach, depending on the unique characteristics of the real estate venture. Assumptions about the discount rate are based on a weighted average cost of capital built up from various interest rate components applicable to the Company. Assumptions about the growth rate and future financial performance of a reporting unit are based on the Company's forecasts, business plans, economic projections and anticipated future cash flows. Market multiples are derived from recent transactions among comparable real estate properties of similar size, construct, and location. The net change in the fair value of the investments is recorded on the consolidated statements of operations as other income (expense). In addition, the Company performs an analysis on its investments in real estate ventures to determine if they qualify as a variable interest entity (“VIE”). For an entity in which we have acquired an interest, the entity will be considered a VIE if either of the following characteristics are met: (i) the entity lacks sufficient equity to finance its activities without additional subordinated financial support, or (ii) equity holders, as a group, lack the characteristics of a controlling financial interest. If an entity is determined to be a VIE, the Company then determines if it is the primary beneficiary to determine if the entity needs to be included in its consolidated financial results. The primary beneficiary has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the entity. The Company considers a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance, including evaluating the nature of relationships and activities of the parties involved and, where necessary, determining which party within a related-party group is most closely associated with the VIE and would therefore be considered the primary beneficiary. The Company determines primary beneficiary status of a VIE at the time of investment and performs ongoing reassessments to evaluate whether changes in the entity’s capital structure or changes in the nature of its involvement with the entity result in a change to the VIE designation or a change to its consolidation conclusion. (See Note 5 for additional information)
Fixed Assets	Fixed Assets Fixed assets are carried at cost less accumulated depreciation and are depreciated on a straight-line basis over their estimated useful lives
Evaluation of Long-Lived Assets	Evaluation of Long-Lived Assets The Company evaluates the recoverability of its long-lived assets for impairment whenever events or circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability is measured by comparing the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset.
Goodwill and Intangible Assets	Goodwill and Intangible Assets On an annual basis, and at interim periods when circumstances require, the Company tests the recoverability of any goodwill and intangible assets balances that exist at that time and reviews for indicators of impairment. The Company performs impairment assessments at the reporting unit level, which is defined as an operating segment or one level below an operating segment, also known as a component. To test for the recoverability of goodwill and indefinite-lived intangible assets, the Company first performs a qualitative assessment based on economic, industry and company-specific factors for all or selected reporting units to determine whether the existence of events and circumstances indicates that it is more likely than not that the goodwill or indefinite-lived intangible asset is impaired. Based on the results of the qualitative assessment, two additional steps in the impairment assessment may be required. The first step would require a comparison of each reporting unit’s fair value to the respective carrying value. If the carrying value exceeds the fair value, a second step is performed to measure the amount of impairment loss on a relative fair value basis, if any.
Fair Value Measurement	Fair Value Measurement The Company applies fair value accounting for all financial assets and liabilities that are reported at fair value in the financial statements on a recurring basis. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a defined three-tier hierarchy to classify and disclose the fair value of assets and liabilities on both the date of their initial measurement as well as all subsequent periods. The hierarchy prioritizes the inputs used to measure fair value by the lowest level of input that is available and significant to the fair value measurement. The three levels are described as follows: •Level 1: Observable inputs. Quoted prices in active markets for identical assets and liabilities; •Level 2: Observable inputs other than the quoted price. Includes quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets and amounts derived from valuation models where all significant inputs are observable in active markets; and •Level 3: Unobservable inputs. Includes amounts derived from valuation models where one or more significant inputs are unobservable and require the Company to develop relevant assumptions. The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification as of each reporting period.
Leases	Leases The determination of whether an arrangement contains a lease and the classification of a lease, if applicable, is made at lease commencement, at which time the Company also measures and recognizes a right-of-use ("ROU") asset, representing the Company’s right to use the underlying asset, and a lease liability, representing the Company’s obligation to make lease payments under the terms of the arrangement. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments (e.g. rent) over the lease term beginning at the commencement date. The operating lease assets are adjusted for lease incentives, deferred rent, and initial direct costs, if incurred. The related lease expense is recognized on a straight-line basis over the lease term. The Company's leases generally do not include an implicit rate; therefore, an incremental borrowing rate is used that is based on information available at the lease commencement date in determining the present value of future minimum lease payments. The Company typically looks to the floating rate of interest charged under the Company's existing credit facility at the time of lease commencement when determining the incremental borrowing rate. For the purposes of recognizing operating lease assets and liabilities, the Company has elected the practical expedient to not recognize an asset or lease liability for short-term leases, which are leases with a term of twelve months or less. The lease term is defined as the non-cancelable portion of the lease term plus any periods covered by an option to extend the lease if it is reasonably certain that the option will be exercised.
Revenue	Revenue The Company’s revenue streams, revenue recognition policies, and cost of revenue details are summarized by the following: Asset Management/Property Management Asset management pricing includes a cost-plus management fee or a market-rate fee form of variable consideration, and the Company earns whichever is higher. Property Management pricing is generally in the form of a monthly management fee based upon property-level cash receipts, square footage under management, or some other variable metric. In addition, property management revenue includes reimbursable expenses such as payroll and other employee costs for those performing services at managed properties. Asset and property management services represent a series of distinct daily services rendered over time. The revenue for asset and property management services is presented gross for any services provided by the Company's employees and presented net of third-party reimbursements in instances where the Company does not control third-party services delivered to the client. Consistent with the transfer of control for distinct, daily services to the customer, revenue is typically recognized at the end of each period for the fees associated with the services performed. Capital Markets Compensation for commercial mortgage and structured financing services is received via fees paid upon successful commercial financing from third-party lenders. The earned fees are contingent upon the funding of the loan, which represents the transfer of control for services to the customer. Therefore, the Company's performance obligation is satisfied at the point in time of the funding of the loan, when there is a present right to payment. Leasing Compensation for providing strategic advice and execution for owners, investors, and occupiers is received in the form of a commission. The commission is paid upon signing of the lease by the tenant, therefore the Company's performance obligation is satisfied at the time of the contractual event, where there is a present right to payment. Project & Development Services Fees for project and development services for owners and occupiers of real estate are typically variable and based on a percentage of the total project cost. Project and development services represent a series of performance obligations delivered over time, therefore the Company recognizes revenue over time for these services accordingly. Incentive Fees Pursuant to the 2022 AMA, incentive compensation fees revenue ("Incentive Fees") may be earned on certain managed real estate assets if defined triggering events, which are differentiated based on the classification of the assets, are achieved. (See Note 14 for additional information) Incentive Fees are calculated as a percentage of the imputed profit that would be realized upon the hypothetical sale or recapitalization of the asset (or assets) for which triggering event criteria were met. The calculation of imputed profit is based on a fair market value assessment that includes highly variable financial inputs and must also consider macro-economic and environmental factors that may affect fair market value. Due to the subjective and potentially volatile nature of this variable consideration, revenue is only recognized on Incentive Fees for each managed asset when 1) any material uncertainties associated with the valuation of real estate assets that drive Incentive Fees are substantially resolved and 2) it is probable that a significant reversal in the amount of related cumulative Incentive Fee revenue recognized will not occur. As a result, the Company has only recognized Incentive Fees at or near each asset's respective triggering event (as detailed in the 2022 AMA) when imputed profit can be reasonably calculated and relied upon to not materially change. Cost of Revenue Cost of revenue is composed primarily of employment expenses for personnel dedicated to providing services to the Anchor Portfolio as well as the costs and expenses of the Company related to maintaining the public listing of its shares and complying with related regulatory and reporting obligations pursuant to the 2022 AMA. It also includes payroll and other reimbursable expenses incurred under the Company's various property management agreements.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense for restricted stock units is measured based on the fair value of the Company’s common stock on the grant date. The Company utilizes the Black-Scholes option pricing model to estimate the grant-date fair value of stock option awards. The exercise price of stock option awards is set to equal the quoted closing market price of the underlying common stock at the date of the grant. The following weighted-average assumptions are also used to calculate the estimated fair value of stock option awards: •Expected volatility: The expected volatility of the Company’s shares is estimated using the historical stock price volatility over the most recent period commensurate with the estimated expected term of the awards. •Expected term: The Company determines the expected term by calculating the weighted-average period of time between the grant date and exercise or post-vesting cancellation date of all outstanding stock options. •Dividend yield: The Company has not paid dividends and does not anticipate paying a cash dividend in the foreseeable future and, accordingly, uses an expected dividend yield of zero. •Risk-free interest rate: The Company bases the risk-free interest rate on the implied yield available on a U.S. Treasury note with a term equal to the estimated expected term of the awards. The Company applies the graded vesting attribution method to recognize compensation expense for stock-based awards. Using this method, the estimated grant-date fair value of the award is recognized over the requisite service period for each separately vesting tranche as though each tranche of the award is, in substance, a separate award. This advanced recognition expense from future vesting tranches results in the accelerated recognition of the overall compensation cost related to the award. The Company has elected to account for forfeitures as they occur. For awards with a performance-based vesting condition, the Company accrues stock-based compensation expense if it is probable that the performance condition will be achieved.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method in accordance with ASC 740. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We provide a valuation allowance when we consider it “more likely than not” (greater than 50% probability) that a deferred income tax asset will not be fully recovered. Adjustments to the valuation allowance are a component of the deferred income tax expense or benefit in the consolidated statements of operations. For interim periods, an income tax provision (benefit) is recognized based on the estimated annual effective tax rate expected for the entire fiscal year. The interim annual estimated effective tax rate is based on the statutory tax rates then in effect, as adjusted for estimated changes in permanent differences, and excludes certain discrete items whose tax effect, when material, is recognized in the interim period in which they occur. These changes in permanent differences and discrete items result in variances to the effective tax rate from period to period. Impacts from significant pre-tax, non-recognized subsequent events are excluded from the interim estimated annual effective rate until the period in which they occur.
Net Income (Loss) per Share	Net Income (Loss) per Share Basic net income (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common share equivalents or any impacts from Preferred Stock activity. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock unit awards. Diluted net income (loss) per common share is calculated by dividing net income (loss) attributable to common stockholders by the fully diluted weighted-average number of common shares outstanding during the period. The diluted weighted-average common shares outstanding amount includes the impact of common share equivalents, which are the incremental shares of common stock that would be issuable upon the hypothetical exercise of stock options and vesting of restricted stock unit awards. The common stock equivalents are calculated using the treasury stock method and average market prices during the periods, and are included in the diluted net income (loss) per share calculation unless their inclusion would be anti-dilutive.
Recent Accounting Pronouncements - Not Yet Adopted	Recent Accounting Pronouncements - Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments.” This guidance is intended to introduce a revised approach to the recognition and measurement of credit losses, emphasizing an updated model based on current expected credit losses ("CECL") rather than incurred losses. The standard will become effective for the Company for financial statement periods beginning after December 15, 2022, and early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its financial statements and related disclosures.

Discontinued Operations

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

On March 31, 2022, the Company completed the sale of CES to August Mack in accordance with the Asset Purchase Agreement for approximately $1.4 million of total consideration, composed of $1.0 million in cash and $0.4 million of cash held in escrow that is subject to net working capital and other adjustments. The Company executed this divestiture to enhance its focus and pursue continued growth initiatives for its core asset management business.


	Year Ended December 31,
		2022		2021
Revenue		$	1,460	$	7,400
Cost of revenue		(1,562)		(5,571)
Selling, general, and administrative		(403)		(2,417)
Depreciation and amortization		—		(60)
Other income (expense)		87		(103)
Goodwill impairment		—		(1,702)
Pre-tax income (loss) from discontinued operations		(418)		(2,453)
Provision for (benefit from) income tax		(37)		(23)
Net income (loss) from discontinued operations		$	(381)	$	(2,430)

The Company recognized a net loss of $0.2 million on the divestiture of CES, calculated by comparing the final adjusted purchase price to the carrying value of the net assets sold in the transaction as of March 31, 2022. These amounts reflect the finalized transaction costs and net working capital adjustments. The cumulative goodwill impairment charge in 2021 was a result of the Company performing the quantitative two-step impairment test and determining that the carrying value of CES significantly exceeded its fair value at the time of measurement, which was estimated using Level 1 inputs.


Carrying amounts of major classes of assets held for sale:
Accounts receivable	$	2,075

Prepaid expenses and other current assets	129
Total current assets	2,204
Fixed assets, net	106

Intangible assets, net	3
Total assets	$	2,313

Carrying amounts of major classes of liabilities held for sale:
Accrued personnel costs	$	153
Accounts payable and accrued liabilities	1,015
Loans payable	26
Total liabilities	$	1,194

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2022
Postemployment Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company maintains defined contribution plans covering all full-time employees of the Company who have 90 days of service and are at least 21 years old. An eligible employee may elect to make a before-tax contribution of between 1% and 90% of his or her compensation through payroll deductions, not to exceed the annual limit set by law. The Company currently matches the first 3% of participant contributions limited to 3% of a participant’s gross compensation (maximum Company match is 4%). The combined total expense for this plan was $0.5 million and $0.4 million for the years ended December 31, 2022 and 2021, respectively.

Income Tax (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision for Continuing Operations

The following table summarizes the components of the provision for (benefit from) income tax (in thousands):


	Year Ended December 31,
	2022		2021
Current:
Federal	$	—	$	—
State	180		104
Total current taxes	180		104

Deferred:
Federal	1,281		358
State	(195)		1,302
Total deferred taxes	1,086		1,660

Other:
Valuation allowance	(1,141)		(12,981)

Provision for (benefit from) income taxes	$	125	$	(11,217)

Reconciliation of Statutory Federal Income Tax Rate

The following table presents a reconciliation the statutory federal income tax rate to the Company's effective income tax rate:


	Year Ended December 31,
	2022		2021
Federal statutory rate	21.00	%	21.00	%
State income taxes, net of federal benefit	5.67	%	5.17	%
Permanent differences	(2.40)	%	(1.08)	%
Return to provision	0.00	%	0.00	%
Change in valuation allowance	(14.54)	%	(266.00)	%
Change in state tax rate	(5.70)	%	(0.26)	%
Other	(2.45)	%	8.55	%
Effective tax rate	1.59	%	(232.62)	%

Components of Deferred Tax Assets and Liabilities

The following table summarizes the components of the Company's deferred tax assets and liabilities (in thousands):


	December 31,
	2022		2021
Deferred tax assets:
Net operating loss and tax credit carryforwards	$	33,532	$	34,773
Stock-based compensation	481		485
Investments in affiliates	1,237		1,335
Right of use lease liability	2,017		1,935
Bonus accrual	1,246		917

Goodwill amortization	(1)		362

Valuation allowance	(25,214)		(26,599)
Total deferred tax assets	13,298		13,208

Deferred tax liabilities:
Right of use lease asset	(1,943)		(1,904)
Depreciation and amortization	—		(4)

Total deferred tax liabilities	(1,943)		(1,908)

Net deferred income tax assets (liabilities)	$	11,355	$	11,300

Investments in Real Estate Ventures (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments, Group of Investment Consolidated Balance Sheet at Fair Value

The Company's unconsolidated investments in real estate ventures are recorded on the consolidated balance sheets at fair value. The following table summarizes these investments (in thousands):


	December 31,

Description	2022		2021
Investors X	$	1,369	$	1,484
The Hartford	953		1,211
BLVD Forty Four	2,135		2,007
BLVD Ansel	2,556		—
Total	$	7,013	$	4,702

Schedule of Investments in Real Estate Ventures

The following table below summarizes the activity of the Company’s unconsolidated investments in real estate ventures that are reported at fair value (in thousands):


Balance as of December 31, 2020	$	6,307
Investments	2,058
Distributions	(3,522)
Change in fair value	(141)
Balance as of December 31, 2021	$	4,702
Investments	2,709
Distributions	(382)
Change in fair value	(16)
Balance as of December 31, 2022	$	7,013

Summarized Financial Information for Unconsolidated Joint Venture

The following tables summarize the combined financial information for our unconsolidated investments in real estate ventures accounted for at fair value or under the equity method (in thousands):


	Year Ended December 31,
Combined Statements of Operations:		2022		2021
Revenue		$	20,825	$	17,670
Operating income (loss)		11,550		8,878
Net income (loss)		$	(7,360)	(316)

Fixed Assets & Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of Fixed Assets

The following table provides a detailed breakout of fixed assets, by type (in thousands):


	December 31,
	2022		2021
Computer equipment and capitalized software	$	538	$	1,106
Furniture and fixtures	80		77
Office equipment	60		46
Vehicles	83		46

Total fixed assets	761		1,275
Accumulated depreciation	(340)		(1,011)
Total fixed assets, net	$	421	$	264

Stockholders' Equity - Summary Information about Stock Option Activity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Roll Forward]
Beginning balance (in shares)	397
Granted (in shares)	0
Exercised (in shares)	(203)
Canceled/forfeited (in shares)	(3)
Expired (in shares)	(60)
Ending balance (in shares)	131	397
Exercisable (in shares)	125
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, beginning balance (in dollars per share)	$ 2.89
Weighted average exercise price, granted (in dollars per share)	0
Weighted average exercise price, exercised (in dollars per share)	3.14
Weighted average exercise price, canceled/forfeited (in dollars per share)	2.24
Weighted average exercise price, expired (in dollars per share)	3.97
Weighted average exercise price, ending balance (in dollars per share)	4.08	$ 2.89
Weighted average exercise price, exercisable (in dollars per share)	$ 4.18
Weighted-average remaining contractual term, outstanding	4 years 4 months 24 days	5 years 8 months 12 days
Weighted-average remaining contractual term, exercisable	3 years 2 months 12 days
Aggregate intrinsic value outstanding	$ 172	$ 998
Aggregate intrinsic value exercisable	$ 158

Debt (Details) - Credit Facility - USD ($) $ in Millions	Mar. 19, 2020	Sep. 30, 2022
WSJ Prime Rate
Debt Instrument [Line Items]
Debt instrument spread variable rate	1.00%
Secured Financing \| CDS
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10.0
Capital line of credit drawn	$ 5.5	$ 5.5

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Fixed Assets & Intangible Assets

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Fixed Assets & Intangible Assets

The following table provides a detailed breakout of fixed assets, by type (in thousands):


	December 31,
	2022		2021
Computer equipment and capitalized software	$	538	$	1,106
Furniture and fixtures	80		77
Office equipment	60		46
Vehicles	83		46

Total fixed assets	761		1,275
Accumulated depreciation	(340)		(1,011)
Total fixed assets, net	$	421	$	264

Depreciation expense for the years ended December 31, 2022 and 2021 was $0.2 million and $0.1 million, respectively.

On May 6, 2022, the Company purchased the rights to the www.comstock.com domain name for $0.1 million. The Company has recorded the domain name purchase as an indefinite-lived intangible asset on its consolidated balance sheets that will be tested annually for impairment.

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K/A
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-32375
Entity Registrant Name	Comstock Holding Companies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1164345
Entity Address, Address Line One	1900 Reston Metro Plaza
Entity Address, Address Line Two	10th Floor
Entity Address, City or Town	Reston
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	703
Local Phone Number	230-1985
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	CHCI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 16,801,319
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III (Items 10, 11, 12, 13 and 14) are incorporated by reference from the registrant’s definitive proxy statement filed with the U.S. Securities and Exchange Commission on May 1, 2023 for its 2023 Annual Meeting of Stockholders that was held on June 14, 2023.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001299969
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,370,616
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		220,250

Income Tax - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Components of Deferred Tax Assets [Abstract]
Net operating loss and tax credit carryforwards	$ 33,532	$ 34,773
Stock-based compensation	481	485
Investments in affiliates	1,237	1,335
Right of use lease liability	2,017	1,935
Bonus accrual	1,246	917
Goodwill amortization	(1)	362
Valuation allowance	(25,214)	(26,599)
Total deferred tax assets	13,298	13,208
Components of Deferred Tax Liabilities [Abstract]
Right of use lease asset	(1,943)	(1,904)
Depreciation and amortization	0	(4)
Total deferred tax liabilities	(1,943)	(1,908)
Net deferred income tax assets	$ 11,355	$ 11,300

Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	APIC	Treasury stock	Accumulated deficit	Series C Preferred Stock	Class A Common Stock	Class B Common Stock
Beginning balance (in shares) at Dec. 31, 2020					3,441	7,953	220
Beginning balance at Dec. 31, 2020	$ 11,215	$ 200,147	$ (2,662)	$ (193,116)	$ 6,765	$ 79	$ 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of shares withheld for taxes (in shares)						149
Issuance of common stock, net of shares withheld for taxes	(250)	(252)				$ 2
Stock-based compensation	722	722
Net income (loss)	13,609			13,609
Ending balance (in shares) at Dec. 31, 2021					3,441	8,102	220
Ending balance at Dec. 31, 2021	25,296	200,617	(2,662)	(179,507)	$ 6,765	$ 81	$ 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of shares withheld for taxes (in shares)						235
Issuance of common stock, net of shares withheld for taxes	(568)	(570)				$ 2
Redemption of Series C preferred stock (in shares)					(3,441)	1,000
Redemption of Series C preferred stock	(4,000)	709		2,046	$ (6,765)	$ 10
Stock-based compensation	779	779
Net income (loss)	7,347			7,347
Ending balance (in shares) at Dec. 31, 2022					0	9,337	220
Ending balance at Dec. 31, 2022	$ 28,854	$ 201,535	$ (2,662)	$ (170,114)	$ 0	$ 93	$ 2

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Investments in Real Estate Ventures

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Investments in Real Estate Ventures

The Company's unconsolidated investments in real estate ventures are recorded on the consolidated balance sheets at fair value. The following table summarizes these investments (in thousands):


	December 31,

Description	2022		2021
Investors X	$	1,369	$	1,484
The Hartford	953		1,211
BLVD Forty Four	2,135		2,007
BLVD Ansel	2,556		—
Total	$	7,013	$	4,702

The Company’s maximum loss exposure on each of its unconsolidated investments in real estate ventures is equal to the carrying amount of the investment. Additional details on each investment are as follows:

Investors X

On April 30, 2019, the Company entered into a master transfer agreement with CPRES which entitled the Company to priority distribution of residual cash flow from its Class B membership interest in Comstock Investors X, L.C. ("Investors X"), an unconsolidated variable interest entity that owns the Company's residual homebuilding operations. As of December 31, 2022, the residual cash flow primarily relates to anticipated proceeds from the sale of rezoned residential lots and returns of cash securing outstanding letters of credit and cash collateral posted for land development bonds covering work performed by subsidiaries owned by Investors X. The cash will be released as bond release work associated with these projects is completed. (See Note 14 for additional information).

The Hartford

In December 2019, the Company entered into a joint venture with CP to acquire a Class-A office building adjacent to Clarendon Station on Metro’s Orange Line in Arlington County’s premier transit-oriented office market, the Rosslyn-Ballston Corridor. Built in 2003, the 211,000 square foot mixed-use Leadership in Energy and Environmental Design (“LEED”) GOLD building is being leased to multiple high-quality tenants. In February 2020, the Company arranged for DivcoWest to purchase a majority ownership stake in the Hartford Building and secured a $87.0 million loan facility from MetLife. As part of the transaction, the Company entered into asset management and property management agreements to manage the property. Fair value is determined using an income approach and sales comparable approach models. As of December 31, 2022, the Company’s ownership interest in the Hartford was 2.5%. (See Note 14 for additional information).

BLVD Forty Four

In October 2021, the Company entered into a joint venture with CP to acquire a stabilized 15-story, luxury high-rise apartment building in Rockville, Maryland that was built in 2015, which we rebranded as BLVD Forty Four. Located one block from the Rockville Station on Metro's Red Line and in the heart of the I-270 Technology and Life Science Corridor, the 263-unit mixed use property includes approximately 16,000 square feet of retail and a commercial parking garage. In connection with the transaction, the Company received an acquisition fee and is entitled to receive investment related income and promote distributions in connection with its equity interest in the asset. The Company also provides asset, residential, retail and parking property management services for the property in exchange for market rate fees. Fair value is determined using an income approach and sales comparable approach models. As of December 31, 2022, the Company’s ownership interest in BLVD Forty Four was 5.0%. (See Note 14 for additional information).

BLVD Ansel

In March 2022, the Company entered into a joint venture with CP to acquire BLVD Ansel, a newly completed 18-story, luxury high-rise apartment building with 250 units located adjacent to the Rockville Metro Station and BLVD Forty Four in Rockville, Maryland. BLVD Ansel features approximately 20,000 square feet of retail space, 611 parking spaces, and expansive amenities including multiple private workspaces designed to meet the needs of remote-working residents. In connection with the transaction, the Company received an acquisition fee and is entitled to receive investment related income and promote distributions in connection with its equity interest in the asset. The Company will also provide asset, residential, retail and parking property management services for the property in exchange for market rate fees. Fair value is determined using an income approach and sales comparable approach models. As of December 31, 2022, the Company’s ownership interest in BLVD Ansel was 5.0%. (See Note 14 for additional information).

The following table below summarizes the activity of the Company’s unconsolidated investments in real estate ventures that are reported at fair value (in thousands):


Balance as of December 31, 2020	$	6,307
Investments	2,058
Distributions	(3,522)
Change in fair value	(141)
Balance as of December 31, 2021	$	4,702
Investments	2,709
Distributions	(382)
Change in fair value	(16)
Balance as of December 31, 2022	$	7,013

Other Investments

In addition, the Company has a joint venture with Superior Title Services, Inc. ("STS") to provide title insurance to its clients. The Company records this co-investment using the equity method of accounting and adjusts the carrying value of the investment for its proportionate share of net income and distributions. The carrying value of the STS investment is recorded in "other assets" on the Company's consolidated statement of balance sheets. The Company's proportionate share of net income and distributions are recorded in gain (loss) on real estate ventures in the consolidated statements of operations, and were $0.1 million and $0.1 million for the years ended December 31, 2022 and 2021, respectively.

The following tables summarize the combined financial information for our unconsolidated investments in real estate ventures accounted for at fair value or under the equity method (in thousands):


	Year Ended December 31,
Combined Statements of Operations:		2022		2021
Revenue		$	20,825	$	17,670
Operating income (loss)		11,550		8,878
Net income (loss)		$	(7,360)	(316)

Related Party Transactions - Schedule of Market Rate Fee (Details) - CDS $ in Millions	Jun. 13, 2022 USD ($)
Asset Management Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of CRE portfolio revenues	2.50%
Asset Management Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of CRE portfolio revenues	2.50%
Entitlement Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of re-zoning costs	15.00%
Development and Construction Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of anchor portfolio revenue	5.00%
Development and Construction Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of anchor portfolio revenue	4.00%
Property Management Fee \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of CRE portfolio revenues	1.00%
Property Management Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of CRE portfolio revenues	1.00%
Acquisition Fee \| 2022 Amended Asset Management Agreement \| Asset Management Agreement
Related Party Transaction [Line Items]
Asset acquisition, price of acquisition, expected	$ 50
Acquisition Fee \| 2022 Amended Asset Management Agreement \| Minimum
Related Party Transaction [Line Items]
Percentage of purchase price	1.00%
Acquisition Fee \| 2022 Amended Asset Management Agreement \| Maximum
Related Party Transaction [Line Items]
Percentage of purchase price	0.50%
Acquisition Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Percentage of purchase price	0.50%
Disposition Fee \| 2022 Amended Asset Management Agreement \| Asset Management Agreement
Related Party Transaction [Line Items]
Asset acquisition, price of acquisition, expected	$ 50
Disposition Fee \| 2022 Amended Asset Management Agreement \| Minimum
Related Party Transaction [Line Items]
Percentage sales price of an asset on disposition	1.00%
Disposition Fee \| 2022 Amended Asset Management Agreement \| Maximum
Related Party Transaction [Line Items]
Percentage sales price of an asset on disposition	0.50%
Disposition Fee \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Percentage sales price of an asset on disposition	0.50%

Net Income (Loss) Per Share - Summary of Shares Equivalents Excluded from Continued Operations Dilutive Share Computation (Detail) - Continued Operations - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted share computation (in shares)	0	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted share computation (in shares)	31	40
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted share computation (in shares)	89	64

Related Party Transactions - Narrative (Detail) $ in Millions					12 Months Ended
	Nov. 01, 2022 ft²	Jun. 13, 2022 USD ($)	Jul. 01, 2019 USD ($)	Apr. 30, 2019 USD ($) installment	Dec. 31, 2022	Jan. 01, 2022	Nov. 01, 2020	Feb. 07, 2020
Business Management Agreement
Related Party Transaction [Line Items]
Business management agreements renewal term			1 year
Management fee payable			$ 0.3
CDS \| Residential Property Management Agreements
Related Party Transaction [Line Items]
Property management agreements initial term					1 year
Property management agreements renewal term					1 year
CDS \| Construction Management Agreement \| Minimum
Related Party Transaction [Line Items]
Percentage of construction management fee					1.00%
CDS \| Construction Management Agreement \| Maximum
Related Party Transaction [Line Items]
Percentage of construction management fee					4.00%
CDS \| Lease Procurement Agreement \| Minimum
Related Party Transaction [Line Items]
Future lease payment percentage of leasing fee					1.00%
CDS \| Lease Procurement Agreement \| Maximum
Related Party Transaction [Line Items]
Future lease payment percentage of leasing fee					2.00%
CDS \| Two Thousand Nineteen Amended And Restated Asset Management Agreement
Related Party Transaction [Line Items]
Fixed annual payment		$ 1.0
CDS \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Agreement additional extension term		1 year
Agreement notice period required for non-renewal		180 days
Agreement notice period after effective date for termination		24 months
Comstock Investors X \| Business Management Agreement
Related Party Transaction [Line Items]
Aggregate fee payable				$ 0.9
Number of installments of fee payment \| installment				15
Fee payable in installments				$ 0.1
Affiliated Entity
Related Party Transaction [Line Items]
Operating lease term of contract							10 years
Affiliated Entity \| D W C Operating Agreement
Related Party Transaction [Line Items]
Percentage of membership interest owned by company and partners								100.00%
Affiliated Entity \| Lease Expansion Agreement
Related Party Transaction [Line Items]
Number of square foot \| ft²	3,778
ParkX Management, LC
Related Party Transaction [Line Items]
Operating lease term of contract						5 years

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2022	Dec. 31, 2021
Treasury stock, shares (in shares)	86	86
Series C
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	3,441
Preferred stock, shares outstanding (in shares)	0	3,441
Class A
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	59,780	59,780
Common stock, shares issued (in shares)	9,337	8,102
Common stock, shares outstanding (in shares)	9,252	8,017
Class B
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	220	220
Common stock, shares issued (in shares)	220	220
Common stock, shares outstanding (in shares)	220	220

Income Tax - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit from continuing operations	$ 11,300	$ (125)	$ 11,217
Release of valuation allowance		1,400	$ 13,000
Net operating losses		$ 131,700
Specified time period for ownership change		3 years

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Related Party Transactions

12 Months Ended

Dec. 31, 2022

Related Party Transactions

On June 13, 2022, CHCI Asset Management, L.C. (“CAM”), an entity wholly owned by the Company, entered into a new master asset management agreement with CP to manage and administer CP’s commercial real estate portfolio (the "Anchor Portfolio") and the day to-day operations of CP and its subsidiaries (the “2022 AMA”). This agreement superseded in its entirety the previous asset management agreement between CAM and CPRES dated April 30, 2019 (the “2019 AMA”). The 2022 AMA increased the base fees collected, expanded the services that qualify for additional supplemental fees, extended the term through 2035, and most notably introduced a mark-to-market incentive fee based on the imputed profit of Anchor Portfolio assets, generally as each is stabilized and as further specified in the agreement. Entry into the 2022 AMA was unanimously approved by the independent directors of the Company.

Consistent with the structure of the 2019 AMA, the 2022 AMA engages CAM to provide investment advisory, development, and asset management services necessary to build out, stabilize, and manage assets in the Anchor Portfolio, which currently consists

primarily of two of the larger transit-oriented, mixed-use developments in the Washington D.C. area (Reston Station and Loudoun Station) that are owned by CP Entities and ultimately controlled by Mr. Clemente.

Pursuant to the fee structures set forth in both the 2022 AMA and 2019 AMA, CAM is entitled to receive an annual payment equal to the greater of the "Cost-Plus Fee" or the "Market Rate Fee". The Cost-Plus Fee is equal to the sum of (i) the comprehensive costs incurred by or for providing services to the Anchor Portfolio, (ii) the costs and expenses of the Company related to maintaining the listing of its shares on a securities exchange and complying with regulatory and reporting obligations of a public company, and (iii) a fixed annual payment of $1.0 million. The Market Rate Fee calculation is defined in the respective asset management agreements as the sum of the fees detailed in the following table:


Description	2022 AMA	2019 AMA
Asset Management Fee	2.5% of Anchor Portfolio revenue	2.5% of Anchor Portfolio revenue
Entitlement Fee	15% of total re-zoning costs	Encompassed in Development and Construction Fee
Development and Construction Fee	5% of development costs (excluding previously charged Entitlement Fees)	4% of development costs
Property Management Fee	1% of Anchor Portfolio revenue	1% of Anchor Portfolio revenue
Acquisition Fee	1% on first $50 million of purchase price; 0.5% above $50 million	0.5% of purchase price
Disposition Fee	1% on first $50 million of sale price; 0.5% above $50 million	0.5% of sale price

In addition to the annual payment of either the Market Rate Fee or the Cost-Plus Fee, CAM is also entitled on an annual basis to receive certain supplemental fees, as detailed for the respective asset management agreements in the following table:


	Description	2022 AMA	2019 AMA
	Incentive Fee	When receiving Market Rate Fee: On a mark-to-market basis, equal to 20% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event1 has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Market Incentive Fee”) When receiving the Cost-Plus Fee: On a mark-to-market basis, an incentive fee equal to 10% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event1 has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Base Incentive Fee”)	10% of the free cash flow of each of the real estate assets comprising the Anchor Portfolio after calculating a compounding preferred return of 8% on CPRES invested capital
	Investment Origination Fee	1% of raised capital	1% of raised capital
	Leasing Fee	$1/per sqft. for new leases and $0.50/ per sqft. for lease renewals	$1/ per sqft. for new leases and $0.50/ per sqft. for lease renewals
	Loan Origination Fee	1% of any Financing Transaction or other commercially reasonable and mutually agreed upon fee	1% of any Financing Transaction or other commercially reasonable and mutually agreed upon fee

1	Triggering events are differentiated between operating assets (i.e. those already in service) and assets under development. Operating asset triggering events are scheduled for specific dates, whereas triggering events for assets under development are tied to various metrics that indicate stabilization, such as occupancy and leasing rates.

The 2022 AMA will terminate on January 1, 2035 (“Initial Term”), and will automatically renew for successive additional one year terms (each an “Extension Term”) unless CP delivers written notice of non-renewal of the 2022 AMA at least 180 days prior to the termination date of the Initial Term or any Extension Term. Twenty-four months after the effective date of the 2022 AMA, CP is entitled to terminate the 2022 AMA without cause upon 180 days advance written notice to CAM. In the event of such a termination and in addition to the payment of any accrued annual fees due and payable as of the termination date under the 2022 AMA, CP is required to pay a termination fee equal to two times the Cost-Plus Fee or Market Rate Fee paid to CAM for the calendar year immediately preceding the termination.

Residential, Commercial, and Parking Property Management Agreements

The Company entered into separate residential property management agreements with properties owned by CP Entities under which the Company receives fees to manage and operate the properties, including tenant communications, leasing of apartment units, rent collections, building maintenance and day-to-day operations, engagement and supervision of contractors and vendors providing services for the buildings, and budget preparation and oversight.

The Company entered into separate commercial property and parking management agreements with several properties owned by CP Entities under which the Company receives fees to manage and operate the office and retail portions of the properties, including tenant communications, rent collections, building maintenance and day-to-day operations, engagement and supervision of contractors and vendors providing services for the buildings, and budget preparation and oversight. These property management agreements each have initial terms of one year with successive, automatic one-year renewal terms. The Company generally receives base management fees under these agreements based upon a percentage of gross rental revenues for the portions of the buildings being managed in addition to reimbursement of specified expenses, including employment expenses of personnel employed by the Company in the management and operation of each property.

Construction Management Agreements

The Company has construction management agreements with properties owned by CP Entities under which the Company receives fees to provide certain construction management and supervision services, including construction supervision and management of the buildout of certain tenant premises. The Company receives a flat construction management fee for each engagement under a work authorization based upon the construction management or supervision fee set forth in the applicable tenant’s lease, which fee is generally 1% to 4% of the total costs (or total hard costs) of construction of the tenant’s improvements in its premises, or as otherwise agreed to by the parties.

Lease Procurement Agreements

The Company has lease procurement agreements with properties owned by CP Entities under which the Company receives certain finders fees in connection with the procurement of new leases for such properties where an external broker is not engaged on behalf of the CP Entities. Such leasing fees are supplemental to the fees generated from the Company's management agreements referenced above and are generally 1-2% of the future lease payments to be received by the CP Entity from the executed lease.

Business Management Agreements

On April 30, 2019, CAM entered into a Business Management Agreement with Investors X, whereby CAM provides Investors X with asset and professional services related to the wind down of the Company’s divested homebuilding operations and the continuation of services related to the Company’s divested land development activities. The aggregate fee payable to CAM from Investors X under the Business Management Agreement is $0.9 million payable in 15 quarterly installments of $0.1 million each and ending on December 31, 2022. The Company considers Investors X to be a variable interest entity over which it does not have the power to direct activities that most significantly impact economic performance, therefore it is not the primary beneficiary of Investors X and does not have to consolidate the entity into its financial results. (See Note 5 for additional information).

On July 1, 2019, CAM entered into a Business Management Agreement (the “BC Management Agreement”) with CPRES, whereby CAM provides CPRES with professional management and consultation services, including, without limitation, consultation on land development and real estate transactions, for a residential community located in Monteverde, Florida. The BC Management Agreement is structured in successive renewable one-year terms. The BC Management Agreement provides that CPRES will pay CAM an annual management fee equal to $0.3 million, payable in equal monthly installments during the term commencing on July 1, 2019, and will reimburse CAM for certain expenses.

The Hartford

In December 2019, the Company made an investment related to the purchase of the Hartford, a stabilized commercial office building located at 3101 Wilson Boulevard in the Clarendon area of Arlington County, Virginia. In conjunction with the investment, the Company entered into an operating agreement with CP to form Comstock 3101 Wilson, LC, to purchase the Hartford. Pursuant to the Operating Agreement, the Company held a minority membership interest of the Hartford and the remaining membership interests of the Hartford are held by CP.

In February 2020, the Company, CP and DWF VI 3101 Wilson Member, LLC (“DWF”), an unaffiliated, third party, equity investor in the Hartford, entered into a limited liability company agreement (the “DWC Operating Agreement”) to form DWC 3101 Wilson Venture, LLC (“DWC”) to, among other things, acquire, own and hold all interests in the Hartford. In furtherance thereof, on February 7, 2020, the Original Operating Agreement was amended and restated (the “A&R Operating Agreement”) to

memorialize the Company’s and CP’s assignment of 100% of its membership interests in the Hartford to DWC. As a result thereof, DWC is the sole member of the Hartford Owner. The Company and CP, respectively, hold minority membership interests in, and DWF holds the majority membership interest in, DWC. (See Note 5 for additional information).

BLVD Forty Four/BLVD Ansel

In October 2021 and March 2022, the Company entered into joint ventures with CP to acquire BLVD Forty Four and BLVD Ansel, respectively, two adjacent mixed-use luxury high-rise apartment buildings located near the Rockville Metro Station in Montgomery County, Md. The Company considers BLVD Forty Four and BLVD Ansel to be variable interest entities upon which it exercises significant influence; however, considering key factors such as the Company’s ownership interest, participation in policy-making decisions, and oversight of management services by majority equity holders, the Company concluded that the power to direct activities that most significantly impact economic performance is shared. Given that the Company is not the entity most closely associated with the properties, it concluded that it is not the primary beneficiary and does not have a controlling financial interest in either property . (See Note 5 for additional information).

Corporate Leases

On November 1, 2020, the Company relocated its corporate headquarters to a new office space pursuant to a ten-year lease agreement with an affiliate controlled and owned by Christopher Clemente, its Chief Executive Officer, and his family as landlords. On November 1, 2022 the Company executed a 3,778 square foot lease expansion agreement with terms that align with the original agreement. (See Note 6 for additional information).

On January 1, 2022, ParkX Management, LC, a subsidiary of the Company, entered into a five-year lease agreement for its parking operations monitoring center with an affiliate controlled and owned by Christopher Clemente, its Chief Executive Officer, and his family as landlords. (See Note 6 for additional information).

Series C Preferred Stock Redemption

On June 13, 2022, the Company entered into the SEPA with CPRES, pursuant to which the Company acquired from CPRES all outstanding shares of its non-convertible and non-redeemable Series C preferred stock. (See Note 10 for additional information)

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of CES		$ 1,016	$ 0
Discontinued operation gain loss on disposal statement of income or comprehensive income extensible enumeration not disclosed flag	true
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| CES
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, consideration	$ 1,400
Proceeds from sale of CES	1,000
Escrow deposit from divestiture of business	400
Discontinued operation, loss on disposal of discontinued operation, net of tax	$ 200

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Company's Restricted Share Activity

The following table summarizes all restricted stock unit activity (in thousands, except per share data):


	RSUs Outstanding	Weighted-Average Grant Date Fair Value
Balance as of December 31, 2021	847	$	2.28
Granted	219	4.63


Released	(223)	2.64
Canceled/Forfeited	(141)	2.51
Balance as of December 31, 2022	702	$	2.95

Summary Information about Stock Option Activity

The following table summarizes all stock option activity (in thousands, except per share data and time periods):


	Options Outstanding	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance as of December 31, 2021	397	$	2.89	5.7	$	998
Granted	—	—
Exercised	(203)	3.14
Canceled/Forfeited	(3)	2.24
Expired	(60)	3.97
Balance as of December 31, 2022	131	$	4.08	4.4	$	172
Exercisable as of December 31, 2022	125	$	4.18	3.2	$	158

Leases - Schedule of Maturities of lease liabilities (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 1,141
2024	1,167
2025	1,194
2026	1,222
2027	1,204
Thereafter	3,568
Total future lease payments	9,496
Imputed interest	(1,578)
Total lease liabilities	$ 7,918

Net Income (Loss) Per Share - Summary of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		12 Months Ended
	Jun. 13, 2022	Dec. 31, 2022	Dec. 31, 2021
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net income (loss) from continuing operations - Basic and Diluted		$ 7,728	$ 16,039
Impact of Series C preferred stock redemption	$ 2,000	2,046	0
Net income (loss) from continuing operations attributable to common stockholders - Basic		9,774	16,039
Net income (loss) from continuing operations attributable to common stockholders - Diluted		9,774	16,039
Net income (loss) from discontinued operations - Basic and Diluted		(381)	(2,430)
Net income (loss) attributable to common shareholders - Basic		9,393	13,609
Net income (loss) attributable to common shareholders - Diluted		$ 9,393	$ 13,609
Weighted-average common stock outstanding:
Basic weighted-average shares outstanding (in shares)		8,974	8,213
Effect of common share equivalents		601	882
Diluted weighted-average shares outstanding (in shares)		9,575	9,095
Net income (loss) per share:
Basic - continuing operations (in dollars per share)		$ 1.09	$ 1.95
Basic - discontinued operations (in dollars per share)		(0.04)	(0.29)
Basic net income per share (in dollars per share)		1.05	1.66
Diluted - continuing operations (in dollars per share)		1.02	1.76
Diluted - discontinued operations (in dollars per share)		(0.04)	(0.26)
Diluted net income per share (in dollars per share)		$ 0.98	$ 1.50

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 39,313	$ 31,093
Operating costs and expenses:
Cost of revenue	29,371	24,649
Selling, general, and administrative	1,784	1,285
Depreciation and amortization	206	94
Total operating costs and expenses	31,361	26,028
Income (loss) from operations	7,952	5,065
Other income (expense):
Interest expense	(222)	(235)
Gain (loss) on real estate ventures	121	(14)
Other income (expense), net	2	6
Income (loss) from continuing operations before income tax	7,853	4,822
Provision for (benefit from) income tax	125	(11,217)
Net income (loss) from continuing operations	7,728	16,039
Net income (loss) from discontinued operations, net of tax	(381)	(2,430)
Net income (loss)	7,347	13,609
Impact of Series C preferred stock redemption	2,046	0
Net income (loss) attributable to common stockholders	9,393	13,609
Net income (loss) attributable to common stockholders	$ 9,393	$ 13,609
Weighted-average common stock outstanding:
Basic weighted-average shares outstanding (in shares)	8,974	8,213
Diluted weighted-average shares outstanding (in shares)	9,575	9,095
Net income (loss) per share:
Basic - continuing operations (in dollars per share)	$ 1.09	$ 1.95
Basic - discontinued operations (in dollars per share)	(0.04)	(0.29)
Basic net income per share (in dollars per share)	1.05	1.66
Diluted - continuing operations (in dollars per share)	1.02	1.76
Diluted - discontinued operations (in dollars per share)	(0.04)	(0.26)
Diluted net income per share (in dollars per share)	$ 0.98	$ 1.50

Stockholders' Equity - Summary of Company's Restricted Share Activity (Detail) - Restricted stock units shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted shares, beginning balance (in shares) \| shares	847
Restricted shares, granted (in shares) \| shares	219
Restricted shares, released (in shares) \| shares	(223)
Restricted shares, canceled/forfeited (in shares) \| shares	(141)
Restricted shares, ending balance (in shares) \| shares	702
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value, beginning balance (in dollars per share) \| $ / shares	$ 2.28
Weighted average grant date fair value, granted (in dollars per share) \| $ / shares	4.63
Weighted average grant date fair value, released (in dollars per share) \| $ / shares	2.64
Weighted average grant date fair value, canceled/forfeited (in dollars per share) \| $ / shares	2.51
Weighted average grant date fair value, ending balance (in dollars per share) \| $ / shares	$ 2.95

Revenue - Summary of Revenues from Contracts with Customers Disaggregated by Categories (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 39,313	$ 31,093
Fixed-price
Disaggregation of Revenue [Line Items]
Total revenue	7,048	7,626
Cost-plus
Disaggregation of Revenue [Line Items]
Total revenue	22,652	16,729
Variable
Disaggregation of Revenue [Line Items]
Total revenue	9,613	6,738
Related party
Disaggregation of Revenue [Line Items]
Total revenue	38,719	30,887
Commercial
Disaggregation of Revenue [Line Items]
Total revenue	594	206
Asset management
Disaggregation of Revenue [Line Items]
Total revenue	26,680	22,539
Property management
Disaggregation of Revenue [Line Items]
Total revenue	9,398	6,939
Parking management
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,235	$ 1,615

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Lease Cost and Cash Flow Information

The following table summarizes operating lease costs, by type (in thousands):


	Year Ended December 31,
		2022		2021
Operating lease costs
Fixed lease costs		$	1,045	$	994
Variable lease costs		361		318
Total operating lease costs		$	1,406	$	1,312

The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):


	Year Ended December 31,
		2022		2021
Cash paid for lease liabilities:
Operating cash flows from operating leases		$	1,350	$	1,213

Schedule of Maturities of Lease Liabilities

The following table summarizes future lease liability payments (in thousands):


Year Ending December 31,	Operating Leases
2023	$	1,141
2024	1,167
2025	1,194
2026	1,222
2027	1,204
Thereafter	3,568
Total future lease payments	9,496
Imputed interest	(1,578)
Total lease liabilities	$	7,918

Income Tax - Reconciliation of Statutory Federal Income Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%
State income taxes, net of federal benefit	5.67%	5.17%
Permanent differences	(2.40%)	(1.08%)
Return to provision	0.00%	0.00%
Change in valuation allowance	(14.54%)	(266.00%)
Change in state tax rate	(5.70%)	(0.26%)
Other	(2.45%)	8.55%
Effective tax rate	1.59%	(232.62%)

Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Summary of Revenues from Contracts with Customers Disaggregated by Categories

The following tables summarize the Company’s revenue by line of business, customer type, and contract type (in thousands):


	Year Ended December 31,
		2022		2021
Revenue by Line of Business
Asset management		$	26,680	$	22,539
Property management		9,398		6,939
Parking management		3,235		1,615
Total revenue		$	39,313	$	31,093


	Year Ended December 31,
		2022		2021
Revenue by Customer Type
Related party		$	38,719	$	30,887
Commercial		594		206
Total revenue		$	39,313	$	31,093


	Year Ended December 31,
		2022		2021
Revenue by Contract Type1
Fixed-price		$	7,048	$	7,626
Cost-plus		22,652		16,729
Variable		9,613		6,738
Total revenue		$	39,313	$	31,093

1 Certain contracts contain multiple revenue streams with characteristics that lend to classification in more than one category

Summary of Significant Accounting Policies - Narrative (Detail) $ in Millions		12 Months Ended
	Jun. 29, 2021 segment	Dec. 31, 2022 USD ($) segment
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments \| segment	2	1
Accounts receivable, allowance for credit loss \| $		$ 0.1
Revenue Benchmark \| Business Concentration Risk \| Related Parties
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		98.50%
Accounts Receivable \| Business Concentration Risk \| Related Parties
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		86.70%

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Market Rate Fee

The Market Rate Fee calculation is defined in the respective asset management agreements as the sum of the fees detailed in the following table:


Description	2022 AMA	2019 AMA
Asset Management Fee	2.5% of Anchor Portfolio revenue	2.5% of Anchor Portfolio revenue
Entitlement Fee	15% of total re-zoning costs	Encompassed in Development and Construction Fee
Development and Construction Fee	5% of development costs (excluding previously charged Entitlement Fees)	4% of development costs
Property Management Fee	1% of Anchor Portfolio revenue	1% of Anchor Portfolio revenue
Acquisition Fee	1% on first $50 million of purchase price; 0.5% above $50 million	0.5% of purchase price
Disposition Fee	1% on first $50 million of sale price; 0.5% above $50 million	0.5% of sale price

Schedule of Supplemental Fees


	Description	2022 AMA	2019 AMA
	Incentive Fee	When receiving Market Rate Fee: On a mark-to-market basis, equal to 20% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event1 has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Market Incentive Fee”) When receiving the Cost-Plus Fee: On a mark-to-market basis, an incentive fee equal to 10% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event1 has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Base Incentive Fee”)	10% of the free cash flow of each of the real estate assets comprising the Anchor Portfolio after calculating a compounding preferred return of 8% on CPRES invested capital
	Investment Origination Fee	1% of raised capital	1% of raised capital
	Leasing Fee	$1/per sqft. for new leases and $0.50/ per sqft. for lease renewals	$1/ per sqft. for new leases and $0.50/ per sqft. for lease renewals
	Loan Origination Fee	1% of any Financing Transaction or other commercially reasonable and mutually agreed upon fee	1% of any Financing Transaction or other commercially reasonable and mutually agreed upon fee

1	Triggering events are differentiated between operating assets (i.e. those already in service) and assets under development. Operating asset triggering events are scheduled for specific dates, whereas triggering events for assets under development are tied to various metrics that indicate stabilization, such as occupancy and leasing rates.

Fixed Assets & Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	May 06, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 200	$ 100
Intangible assets	$ 144	$ 0	$ 100

Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

The following table sets forth the calculation of basic and diluted net income per share (in thousands, except per share data):


	Year Ended December 31,
		2022		2021
Numerator:
Net income (loss) from continuing operations - Basic and Diluted		$	7,728	$	16,039
Impact of Series C preferred stock redemption		2,046		—
Net income (loss) from continuing operations attributable to common stockholders - Basic and Diluted		9,774		16,039
Net income (loss) from discontinued operations - Basic and Diluted		(381)		(2,430)
Net income (loss) attributable to common shareholders - Basic and Diluted		$	9,393	$	13,609

Denominator:
Weighted-average common shares outstanding - Basic		8,974		8,213
Effect of common share equivalents		601		882
Weighted-average common shares outstanding - Diluted		9,575		9,095

Net income (loss) per share:
Basic - Continuing operations		$	1.09	$	1.95
Basic - Discontinued operations		(0.04)		(0.29)
Basic net income (loss) per share		$	1.05	$	1.66

Diluted - Continuing operations		$	1.02	$	1.76
Diluted - Discontinued operations		(0.04)		(0.26)
Diluted net income (loss) per share		$	0.98	$	1.50

The following common share equivalents have been excluded from the computation of diluted net income (loss) per share because their effect was anti-dilutive (in thousands):


	Year Ended December 31,
		2022	2021
Restricted stock units		—	—
Stock options		31	40
Warrants		89	64

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 11,722	$ 15,823
Accounts receivable, net	504	46
Accounts receivable - related parties	3,291	1,697
Prepaid expenses and other current assets	264	197
Current assets held for sale	0	2,313
Total current assets	15,781	20,076
Fixed assets, net	421	264
Intangible assets	144	0
Leasehold improvements, net	119	0
Investments in real estate ventures	7,013	4,702
Operating lease assets	7,625	7,245
Deferred income taxes, net	11,355	11,300
Other assets	15	15
Total assets	42,473	43,602
Current liabilities:
Accrued personnel costs	4,959	3,468
Accounts payable and accrued liabilities	742	783
Current operating lease liabilities	791	616
Current liabilities held for sale	0	1,194
Total current liabilities	6,492	6,061
Credit facility - due to affiliates	0	5,500
Operating lease liabilities	7,127	6,745
Total liabilities	13,619	18,306
Commitments and contingencies (Note 8)
Stockholders' equity:
Additional paid-in capital	201,535	200,617
Treasury stock, at cost (86 shares of Class A common stock)	(2,662)	(2,662)
Accumulated deficit	(170,114)	(179,507)
Total stockholders' equity	28,854	25,296
Total liabilities and stockholders' equity	42,473	43,602
Series C
Stockholders' equity:
Series C preferred stock; $0.01 par value; 20,000 shares authorized; none issued or outstanding as of December 31, 2022; 3,441 issued and outstanding as of December 31, 2021	0	6,765
Class A
Stockholders' equity:
Common stock	93	81
Class B
Stockholders' equity:
Common stock	$ 2	$ 2

Investments in Real Estate Ventures - Schedule of Investments in Real Estate Ventures (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity Method Investment and Joint Venture, Fair Value Change [Roll Forward]
Fair value investments, beginning balance	$ 4,702
Distributions	(162)	$ 0
Change in fair value	(121)	14
Fair value investments, ending balance	7,013	4,702
Level 3
Equity Method Investment and Joint Venture, Fair Value Change [Roll Forward]
Fair value investments, beginning balance	4,702	6,307
Investments	2,709	2,058
Distributions	(382)	(3,522)
Change in fair value	(16)	(141)
Fair value investments, ending balance	$ 7,013	$ 4,702

Company Overview	12 Months Ended
Company Overview	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Overview	Company Overview Comstock Holding Companies, Inc. ("Comstock" or the "Company"), founded in 1985 and incorporated in the state of Delaware in 2004, is a leading real estate asset manager and developer of mixed-use and transit-oriented properties in the Washington, D.C. region. On March 31, 2022, the Company completed the sale of Comstock Environmental Services, LLC ("CES"), a wholly owned subsidiary, to August Mack Environmental, Inc. ("August Mack") for approximately $1.4 million of total consideration. (See Note 3 for additional information). On June 13, 2022, the Company completed two separate significant transactions to further deleverage its balance sheet and enhance its long-term revenue outlook and growth potential. The first one with CP Real Estate Services, LC (“CPRES”), an entity owned by Christopher Clemente, Comstock’s Chief Executive Officer, redeemed all outstanding Series C preferred stock at a significant discount to carrying value. Secondly, the Company executed a new asset management agreement with Comstock Partners, LC ("CP"), an entity controlled by Mr. Clemente and wholly owned by Mr. Clemente and certain family members, which covers its Anchor Portfolio of assets (the "2022 AMA"). (See Notes 10 and 14 for additional information). The Company operates through four primarily real estate-focused subsidiaries – CHCI Asset Management, LC (“CAM”); CHCI Residential Management, LC; CHCI Commercial Management, LC; and Park X Management, LC.

Discontinued Operations - Summary of Operating Results of Discontinued Operations Reflected on Consolidated Statement of Operations (Details) - Discontinued Operations, Held-for-sale - CES - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ 1,460	$ 7,400
Cost of revenue	(1,562)	(5,571)
Selling, general, and administrative	(403)	(2,417)
Depreciation and amortization	0	(60)
Other income (expense)	87	(103)
Goodwill impairment	0	(1,702)
Pre-tax income (loss) from discontinued operations	(418)	(2,453)
Provision for (benefit from) income tax	(37)	(23)
Net income (loss) from discontinued operations	$ (381)	$ (2,430)

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor firm ID	248
Auditor name	GRANT THORNTON LLP
Auditor location	Arlington, Virginia

Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Summary of Earnings Per Share, Basic and Diluted

The following table sets forth the calculation of basic and diluted net income per share (in thousands, except per share data):


	Year Ended December 31,
		2022		2021
Numerator:
Net income (loss) from continuing operations - Basic and Diluted		$	7,728	$	16,039
Impact of Series C preferred stock redemption		2,046		—
Net income (loss) from continuing operations attributable to common stockholders - Basic and Diluted		9,774		16,039
Net income (loss) from discontinued operations - Basic and Diluted		(381)		(2,430)
Net income (loss) attributable to common shareholders - Basic and Diluted		$	9,393	$	13,609

Denominator:
Weighted-average common shares outstanding - Basic		8,974		8,213
Effect of common share equivalents		601		882
Weighted-average common shares outstanding - Diluted		9,575		9,095

Net income (loss) per share:
Basic - Continuing operations		$	1.09	$	1.95
Basic - Discontinued operations		(0.04)		(0.29)
Basic net income (loss) per share		$	1.05	$	1.66

Diluted - Continuing operations		$	1.02	$	1.76
Diluted - Discontinued operations		(0.04)		(0.26)
Diluted net income (loss) per share		$	0.98	$	1.50

Summary of Shares Equivalents Excluded from Dilutive Share Computation

The following common share equivalents have been excluded from the computation of diluted net income (loss) per share because their effect was anti-dilutive (in thousands):


	Year Ended December 31,
		2022	2021
Restricted stock units		—	—
Stock options		31	40
Warrants		89	64

Debt	12 Months Ended
Debt	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt Credit Facility - Due to Affiliates On March 19, 2020, the Company entered into a Revolving Capital Line of Credit Agreement with CPRES, pursuant to which the Company secured a $10.0 million capital line of credit (the “Credit Facility”), on which it made a $5.5 million initial draw with an April 30, 2023 maturity date. Under the terms, the Credit Facility provides for an initial variable interest rate of the Wall Street Journal Prime Rate plus 1.00% per annum on advances made under the Credit Facility, payable monthly in arrears. On September 30, 2022, the Company paid down its $5.5 million outstanding principal balance on the Credit Facility in full. As of December 31, 2022, the Credit Facility remained available for use and the Company had no outstanding debt or financing arrangements for which future payments are due

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 470
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-Name Accounting Standards Codification
-Topic 470
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+ Details

Stockholders' Equity - Additional Information (Detail) $ / shares in Units, shares in Thousands, $ in Thousands		12 Months Ended
	Jun. 13, 2022 USD ($) shares	Dec. 31, 2022 USD ($) vote installment $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Feb. 12, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Redemption of Series C preferred stock	$ 4,000	$ 4,000
Preferred stock, including additional paid in capital, net of discount	10,300
Impact of Series C preferred stock redemption	2,000	2,046	$ 0
Preferred Stock Redemption Premium	$ 8,300
Stock based compensation expenses		800	$ 600
Unrecognized compensation cost related to nonvested stock issuances		$ 700
Weighted-average period		2 years 10 months 2 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments \| installment		4
Vesting period		4 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments \| installment		4
Vesting period		4 years
Omnibus incentive plan stock option expiration period		10 years
Minimum \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting range, percentage		60.00%
Maximum \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting range, percentage		120.00%
Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01	$ 0.01
Common Stock, number of votes per share \| vote		15
Common stock, shares issued (in shares) \| shares		220	220
Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01	$ 0.01
Common Stock, number of votes per share \| vote		1
Redemption of Series C preferred stock (in shares) \| shares	1,000
Common stock, shares issued (in shares) \| shares		9,337	8,102
Class A \| 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) \| shares				2,500
Common stock, shares issued (in shares) \| shares		1,600
Series C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, par value (in dollars per share) \| $ / shares		$ 0.01	$ 0.01