XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.23.1

3. BUSINESS COMBINATION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Business Combinations [Abstract] |
Summary of preliminary purchase price allocation to assets acquired and liabilities assumed | The following table summarizes the preliminary purchase price allocation to assets acquired and liabilities assumed (in thousands):
|  | Amount |  |  | Weighted Average Useful Life (in years) |
Purchase consideration: |  |  |  |  |  |  |  |
Cash paid at closing (1) |  | $ | 8,245 |  |  |  |  |
Cash in escrow (2) |  |  | 3,263 |  |  |  |  |
Holdback amount (3) |  |  | 2,928 |  |  |  |  |
Advances to Ibeo (4) |  |  | 7,120 |  |  |  |  |
Total purchase consideration |  | $ | 21,556 |  |  |  |  |
Inventory |  | $ | 1,197 |  |  |  |  |
Other current assets |  |  | 703 |  |  |  |  |
Operating lease right-of-use asset |  |  | 234 |  |  |  |  |
Property and equipment, net |  |  | 5,330 |  |  |  |  |
Intangible assets: |  |  |  |  |  |  |  |
Acquired technology |  |  | 17,987 |  |  |  | 13 |
Order backlog |  |  | 26 |  |  |  | 1 |
Contract liabilities |  |  | (1,178 | ) |  |  |  |
Operating lease liabilities |  |  | (234 | ) |  |  |  |
Deferred tax liabilities |  |  | (803 | ) |  |  |  |
Total identifiable net assets |  | $ | 23,262 |  |  |  |  |
Bargain purchase gain (1) |  |  | (1,706 | ) |  |  |  |
(1) | Represents $7.6 million in cash paid at closing and $0.7 million in cash paid shortly after close.
(2) | Recorded as restricted cash and accrued liability to Ibeo in our condensed consolidated balance sheet.
(3) | Recorded in accrued liability to Ibeo in our condensed consolidated balance sheet.
(4) | Represents $4.1 million and $3.0 million in cash advanced to Ibeo in December 2022 and January 2023, respectively.
(5) | The bargain purchase gain represents the excess of the fair value of the underlying net assets acquired and liabilities assumed over the purchase consideration and is included in Bargain purchase gain in the Condensed Consolidated Statement of Operations. The bargain purchase gain was attributable to the negotiation process with Ibeo during its insolvency proceedings resulting in cash consideration paid being less than the fair value of the net assets.
Summary of unaudited pro forma results | The following table summarizes the unaudited pro forma results (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Total revenue |  | $ | 1,331 |  |  | $ | 2,796 |
Net loss |  |  | (22,322 | ) |  |  | (28,661 | )

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration