Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

v3.22.2
Business Combinations (Tables)
6 Months Ended
Jun. 30, 2022
Business Combinations [Abstract]  
Schedule of Preliminary Fair Values of Assets Acquired And Liabilities Assumed

The table below sets forth the preliminary fair values of assets acquired and liabilities assumed including the adjustments recorded in the six months ended June 30, 2022:

 

 

December 31,

 

 

 

 

 

June 30,

 

(in thousands)

 

2021

 

 

Adjustments

 

 

2022

 

Cash and restricted cash

 

$

2,741

 

 

$

-

 

 

$

2,741

 

Property, plant and equipment

 

 

18,622

 

 

 

-

 

 

 

18,622

 

Other assets acquired

 

 

2,302

 

 

 

-

 

 

 

2,302

 

Right-of-use asset

 

 

2,715

 

 

 

-

 

 

 

2,715

 

Acquired technology

 

 

84,400

 

 

 

-

 

 

 

84,400

 

Goodwill

 

 

62,649

 

 

 

14

 

 

 

62,663

 

Deferred tax liability

 

 

(14,246

)

 

 

-

 

 

 

(14,246

)

Lease liability

 

 

(2,759

)

 

 

-

 

 

 

(2,759

)

Liabilities assumed

 

 

(2,004

)

 

 

(14

)

 

 

(2,018

)

Contingent purchase price payable

 

 

(500

)

 

 

-

 

 

 

(500

)

Total preliminary purchase price

 

$

153,920

 

 

$

-

 

 

$

153,920

 

Summary of Proforma Adjustments The following includes pro forma adjustments to reflect amortization of acquired technology intangible assets. We do not disclose pro forma impact related to income taxes or earnings-per-share as we do not believe those are useful to the reader in our situation.

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Revenue

 

$

12,703

 

 

$

14,492

 

 

$

27,446

 

 

$

27,687

 

Loss from operations

 

 

(32,120

)

 

 

(23,921

)

 

 

(62,809

)

 

 

(40,193

)