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Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination [Line Items]  
Summarizes Unaudited Pro Forma Consolidated Revenue

The following table summarizes the unaudited pro forma consolidated revenue of the Company as if each of the acquisitions described above had been completed on January 1, 2024 (in thousands):

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Revenue

 

$

41,628

 

 

$

30,724

 

 

$

100,661

 

 

$

79,596

 

 
Oxford Ionics Limited [Member]  
Business Combination [Line Items]  
Summary of Components of Purchase Consideration

The following table summarizes the components of the purchase consideration to acquire Oxford Ionics (in thousands):

 

Cash

 

$

10,000

 

Fair value of common stock issued(1)

 

 

1,579,670

 

Total purchase consideration

 

$

1,589,670

 

 

Reflects 25,372,150 shares of the Company’s common stock issued in the acquisition, multiplied by the closing price of the Company’s common stock on the closing date. These shares are inclusive of 149,169 shares withheld to cover employee tax obligations.
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of Oxford Ionics’s assets acquired and liabilities assumed as of the acquisition date (in thousands):

 

 

 

Preliminary Fair Value

 

Cash and cash equivalents

 

$

8,722

 

Accounts receivable

 

 

758

 

Prepaid expenses and other current assets

 

 

16,185

 

Property and equipment

 

 

5,334

 

Operating lease right-of-use assets

 

 

4,977

 

Intangible assets

 

 

423,581

 

Goodwill

 

 

1,261,472

 

Accounts payable

 

 

(23,339

)

Accrued expenses and other current liabilities

 

 

(11,510

)

Operating lease liabilities

 

 

(4,735

)

Unearned revenue

 

 

(1,937

)

Other noncurrent liabilities

 

 

(89,838

)

Total fair value of net assets acquired

 

$

1,589,670

 
Capella Space Corp. [Member]  
Business Combination [Line Items]  
Summary of Components of Purchase Consideration

The following table summarizes the components of the purchase consideration to acquire Capella (in thousands):

 

Cash

 

$

48,349

 

Fair value of common stock issued(1)

 

 

376,483

 

Total purchase consideration

 

$

424,832

 

 

(1)
Reflects 9,004,626 shares of the Company’s common stock issued in the acquisition, multiplied by the closing price of the Company’s common stock on the closing date. These shares are inclusive of 1,584,918 shares held in escrow. The escrowed shares are expected to be released within 18 months after the close of the Capella Acquisition, subject to reductions for indemnity claims and working capital adjustments.
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of Capella’s assets acquired and liabilities assumed as of the acquisition date (in thousands):

 

 

 

Preliminary Fair Value

 

Cash and cash equivalents

 

$

5,019

 

Accounts receivable

 

 

4,527

 

Prepaid expenses and other current assets

 

 

19,388

 

Property and equipment

 

 

52,009

 

Operating lease right-of-use assets

 

 

5,977

 

Intangible assets

 

 

101,700

 

Goodwill

 

 

259,490

 

Other noncurrent assets

 

 

3,220

 

Accounts payable

 

 

(2,271

)

Accrued expenses and other current liabilities

 

 

(13,044

)

Operating lease liabilities

 

 

(6,136

)

Unearned revenue

 

 

(3,090

)

Other noncurrent liabilities

 

 

(1,957

)

Total fair value of net assets acquired

 

$

424,832

 
ID Quantique SA [Member]  
Business Combination [Line Items]  
Summary of Components of Purchase Consideration

The following table summarizes the components of the purchase consideration to acquire IDQ (in thousands):

 

Fair value of common stock issued(1)

 

$

113,064

 

Fair value of equity awards(2)

 

 

3,153

 

Total purchase consideration

 

$

116,217

 

 

(1)
Reflects 4,117,439 shares of the Company’s common stock issued in the acquisition, multiplied by the closing price of the Company’s common stock on the closing date. These shares are inclusive of 778,564 shares held in escrow. The escrowed shares are expected to be released within 18 months after the close of the IDQ Acquisition, subject to reductions for indemnity claims.
Reflects the conversion and issuance of certain equity awards, including stock options. Refer to Note 14 for further details on the Company’s share-based compensation awards, including awards issued in connection with acquisitions.
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of IDQ’s assets acquired and liabilities assumed, including measurement period adjustments, as of the acquisition date (in thousands):

 

 

 

Preliminary Fair Value

 

 

Measurement Period Adjustments

 

 

Adjusted Fair Value

 

Cash and cash equivalents

 

$

9,963

 

 

$

—

 

 

$

9,963

 

Accounts receivable

 

 

4,616

 

 

 

—

 

 

 

4,616

 

Prepaid expenses and other current assets

 

 

9,759

 

 

 

—

 

 

 

9,759

 

Property and equipment

 

 

978

 

 

 

—

 

 

 

978

 

Operating lease right-of-use assets

 

 

2,246

 

 

 

—

 

 

 

2,246

 

Intangible assets

 

 

42,751

 

 

 

—

 

 

 

42,751

 

Goodwill

 

 

84,608

 

 

 

(2,700

)

 

 

81,908

 

Other noncurrent assets

 

 

972

 

 

 

—

 

 

 

972

 

Accounts payable

 

 

(2,223

)

 

 

—

 

 

 

(2,223

)

Accrued expenses and other current liabilities

 

 

(3,810

)

 

 

—

 

 

 

(3,810

)

Operating lease liabilities

 

 

(2,245

)

 

 

—

 

 

 

(2,245

)

Unearned revenue

 

 

(7,150

)

 

 

—

 

 

 

(7,150

)

Other noncurrent liabilities

 

 

(4,630

)

 

 

—

 

 

 

(4,630

)

Noncontrolling interest

 

 

(16,918

)

 

 

—

 

 

 

(16,918

)

Total fair value of net assets acquired

 

$

118,917

 

 

$

(2,700

)

 

$

116,217

 
Lightsynq Technologies Inc. [Member]  
Business Combination [Line Items]  
Summary of Components of Purchase Consideration

The following table summarizes the components of the purchase consideration to acquire Lightsynq (in thousands):

 

Cash

 

$

100

 

Fair value of common stock issued(1)

 

 

250,127

 

Fair value of equity awards(2)

 

 

56,604

 

Total purchase consideration

 

$

306,831

 

 

(1)
Reflects 6,200,474 shares of the Company’s common stock issued in the acquisition, multiplied by the closing price of the Company’s common stock on the closing date. These shares are inclusive of 646,986 shares held in escrow. The escrowed shares are expected to be released within 12 months after the close of the Lightsynq Acquisition, subject to reductions for indemnity claims and working capital adjustments.
Reflects the conversion and issuance of certain equity awards, including stock options. Refer to Note 14 for further details on the Company’s share-based compensation awards, including awards issued in connection with acquisitions.
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of Lightsynq’s assets acquired and liabilities assumed, including measurement period adjustments, as of the acquisition date (in thousands):

 

 

 

Preliminary Fair Value

 

 

Measurement Period Adjustments

 

 

Adjusted Fair Value

 

Cash and cash equivalents

 

$

16,854

 

 

$

—

 

 

$

16,854

 

Prepaid expenses and other current assets

 

 

123

 

 

 

—

 

 

 

123

 

Property and equipment

 

 

6,476

 

 

 

—

 

 

 

6,476

 

Intangible assets

 

 

61,200

 

 

 

6,400

 

 

 

67,600

 

Goodwill

 

 

242,260

 

 

 

(4,806

)

 

 

237,454

 

Accounts payable

 

 

(161

)

 

 

—

 

 

 

(161

)

Accrued expenses and other current liabilities

 

 

(4,621

)

 

 

6

 

 

 

(4,615

)

Deferred tax liabilities

 

 

(15,300

)

 

 

(1,600

)

 

 

(16,900

)

Total fair value of net assets acquired

 

$

306,831

 

 

$

—

 

 

$

306,831

 
Market Intelligence Business [Member]  
Business Combination [Line Items]  
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands):

 

 

 

Preliminary Fair Value

 

 

Measurement Period Adjustments

 

 

Adjusted Fair Value

 

Cash and cash equivalents

 

$

1,950

 

 

$

—

 

 

$

1,950

 

Accounts receivable

 

 

559

 

 

 

—

 

 

 

559

 

Prepaid expenses and other current assets

 

 

41

 

 

 

—

 

 

 

41

 

Intangible assets

 

 

13,400

 

 

 

—

 

 

 

13,400

 

Goodwill

 

 

30,092

 

 

 

203

 

 

 

30,295

 

Accounts payable

 

 

(769

)

 

 

—

 

 

 

(769

)

Accrued expenses and other current liabilities

 

 

(117

)

 

 

(203

)

 

 

(320

)

Unearned revenue

 

 

(997

)

 

 

—

 

 

 

(997

)

Deferred tax liabilities

 

 

(3,550

)

 

 

—

 

 

 

(3,550

)

Total fair value of net assets acquired

 

$

40,609

 

 

$

—

 

 

$

40,609

 
Qubitekk Federal, LLC [Member]  
Business Combination [Line Items]  
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed The following table summarizes the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, including measurement period adjustments, as of the acquisition date (in thousands):

 

 

 

Preliminary Fair Value

 

 

Measurement Period Adjustments

 

 

Updated Preliminary Fair Value

 

Accounts receivable

 

$

400

 

 

$

(24

)

 

$

376

 

Prepaid expenses and other current assets

 

 

531

 

 

 

340

 

 

 

871

 

Intangible assets

 

 

11,900

 

 

 

(1,050

)

 

 

10,850

 

Goodwill

 

 

9,220

 

 

 

772

 

 

 

9,992

 

Other noncurrent assets

 

 

3

 

 

 

—

 

 

 

3

 

Unearned revenue

 

 

—

 

 

 

(25

)

 

 

(25

)

Total fair value of net assets acquired

 

$

22,054

 

 

$

13

 

 

$

22,067