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BUSINESS COMBINATIONS (Tables) | 12 Months Ended
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Dec. 31, 2021
Summary of consolidated statement of operations includes revenues and net income | These unaudited consolidated pro forma operating results are presented for illustrative purposes only and are not indicative of the operating results that would have been achieved had the acquisitions occurred on January 1, 2020, nor does the information project results for any future period.
|  | As Reported |  |  | Acquisitions Pro-Forma (Unaudited) |  |  | Consolidated Pro-Forma (Unaudited) |
2021 |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 62,237 |  |  | $ | 21,629 |  |  | $ | 83,866 |
Net (loss) income |  |  | (117,320 | ) |  |  | 6,377 |  |  |  | (110,943 | )
2020 |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 35,160 |  |  | $ | 21,525 |  |  | $ | 56,685 |
Net (loss) income |  |  | (55,005 | ) |  |  | 6,664 |  |  |  | (48,341 | )
Sinclair Interplanetary [Member] |
Estimates Fair Value of Assets Acquired and Liabilities Assumed | The following table presents estimates of the fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:
Description |  | Amount |
Cash and cash equivalents |  | $ | 132 |
Accounts receivable |  |  | 1,024 |
Intangible assets, net |  |  | 10,250 |
Other current liabilities |  |  | (2,494 | )
Other assets and liabilities, net |  |  | 533 |
Identifiable net assets acquired |  |  | 9,445 |
Goodwill |  |  | 2,895 |
Total purchase price |  | $ | 12,340 |
Summary of Identifiable Intangible Assets Acquired and Related Expected Lives for the Finite-Lived Intangible Assets | The following is a summary of identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:
Type |  | Estimated Life in Years |  |  | Fair Value |
Developed technology |  |  | 7 |  |  | $ | 9,200 |
In-process technology |  |  | N/A |  |  |  | 100 |
Customer relationships |  |  | 3 |  |  |  | 600 |
Backlog |  |  | 0.7 |  |  |  | 50 |
Trademark and tradenames |  |  | 3 |  |  |  | 100 |
Non-compete agreement |  |  | 4 |  |  |  | 200 |
Total identifiable intangible assets acquired |  |  |  |  |  | $ | 10,250 |
Summary of Stock Based Compensation Expense | The following table provides stock-based compensation expense recognized in conjunction with the Sinclair Interplanetary acquisition:
|  | Years Ended December 31, |
Acquisition stock-based compensation |  | 2021 |  |  | 2020 |
Shares issued in conjunction with the acquisition |  | $ | 1,402 |  |  | $ | 934 |
Earnout share achievement |  |  | 1,630 |  |  |  | — |
Total stock compensation related to the acquisition |  | $ | 3,032 |  |  | $ | 934 |
Advanced Solutions Inc [Member] |
Estimates Fair Value of Assets Acquired and Liabilities Assumed | The following table presents estimates of the preliminary fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:
Description |  | Amount |
Cash and cash equivalents |  | $ | 2,245 |
Accounts receivable |  |  | 1,920 |
Intangible assets |  |  | 15,900 |
Employee benefits payable |  |  | (1,310 | )
Other assets and liabilities, net |  |  | 21 |
Identifiable net assets acquired |  |  | 18,776 |
Goodwill |  |  | 16,659 |
Total purchase price |  | $ | 35,435 |
Summary of Identifiable Intangible Assets Acquired and Related Expected Lives for the Finite-Lived Intangible Assets | The following is a summary of preliminary identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets (in thousands):
Type |  | Estimated Life in Years |  |  | Fair Value |
Developed technology |  |  | 7 |  |  | $ | 11,400 |
In-process technology |  |  | N/A |  |  |  | 300 |
Customer relationships |  |  | 10 |  |  |  | 3,100 |
Trademark and tradenames |  |  | 7 |  |  |  | 1,100 |
Total identifiable intangible assets acquired |  |  |  |  |  | $ | 15,900 |
Planetary Systems Corporation [Member] |
Estimates Fair Value of Assets Acquired and Liabilities Assumed | The following table presents estimates of the preliminary fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:
Description |  | Amount |
Cash and cash equivalents |  | $ | 3,655 |
Accounts receivable |  |  | 2,543 |
Inventories |  |  | 7,088 |
Intangible assets |  |  | 33,000 |
Employee benefits payable |  |  | (1,212 | )
Contract liabilities (1) |  |  | (5,352 | )
Other current liabilities |  |  | (1,683 | )
Non-current deferred tax liabilities |  |  | (6,762 | )
Other assets and liabilities, net |  |  | 1,040 |
Identifiable net assets acquired |  |  | 32,317 |
Goodwill |  |  | 23,451 |
Total purchase price |  | $ | 55,768 |
(1) | Contract liabilities was recorded under ASC 606 in accordance with ASU No. 2021-08; therefore a reduction in contract liabilities related to the estimated fair values of the acquired contract liabilities was not required.
Summary of Identifiable Intangible Assets Acquired and Related Expected Lives for the Finite-Lived Intangible Assets | The following is a summary of preliminary identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets (in thousands):
Type |  | Estimated Life in Years |  |  | Fair Value |
Developed technology |  |  | 8 |  |  | $ | 23,500 |
In-process technology |  |  | N/A |  |  |  | 1,500 |
Customer relationships |  |  | 15 |  |  |  | 3,400 |
Backlog |  |  | 1 |  |  |  | 400 |
Trademark and tradenames |  |  | 15 |  |  |  | 4,200 |
Total identifiable intangible assets acquired |  |  |  |  |  | $ | 33,000 |

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