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ACQUISITIONS (Tables) | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Allocation of the Total Purchase Consideration | The Acquisition was accounted for as a business combination. Preliminary purchase consideration consisted of the following:
|  | Purchase Consideration
Cash consideration [1] |  | $ | 1,319,151 |
Share consideration |  | 721,964 |
Contingent consideration[2] |  | 11,200 |
Preliminary fair value of purchase consideration |  | $ | 2,052,315 |
[1] Amount includes base cash consideration of $1,275.0 million per the Alani Nu purchase agreement, plus $19.1 million of cash expected to be paid in connection with the finalization of customary post-closing adjustments, plus Alani Nu closing cash acquired, offset by certain indebtedness related items. For the three months ended June 30, 2025, the Company paid $1,256.4 million, net of cash acquired, as reflected in the condensed consolidated statement of cash flows. [2] A probability-weighted expected return method was used to value the contingent consideration, whereby value is determined based on expected cash flows under various scenarios related to the achievement o f the revenue target. The measurement includes significant inputs not observable in the market and thus represents a level 3 measurement as defined in ASC 820. A summary of the allocation of the total purchase consideration is presented below:
| Purchase Consideration |  | Goodwill |  | Property, Plant and Equipment Acquired |  | Other Net Identifiable Assets Acquired
Big Beverages Acquisition | $ | 76,812 |  |  | $ | 58,257 |  |  | $ | 13,254 |  |  | $ | 5,301 |
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed on the Closing Date. Given the close proximity to the Closing Date, the Company is still finalizing and reviewing the estimated useful lives of intangible assets and the estimated fair values of the assets acquired and liabilities assumed. Accordingly, additional measurement period adjustments may be recorded. The provisional measurements of intangible assets, net working capital assets, property, plant, and equipment, and goodwill are subject to change as the valuation procedures are finalized.
|  | At April 1, 2025
ASSETS |  |
Cash and cash equivalents |  | $ | 43,655 |
Accounts receivable |  | 82,423 |
Inventories [1] |  | 95,778 |
Prepaid expenses and other current assets |  | 2,013 |
Property, plant and equipment |  | 5,221 |
Brands |  | 1,104,000 |
Customer relationships |  | 111,000 |
LIABILITIES |  |
Accounts payable |  | 49,117 |
Accrued expenses |  | 51,938 |
Deferred revenue-current |  | 8,519 |
Other current liabilities |  | 666 |
Deferred revenue-non-current |  | 3,780 |
Other long term liabilities |  | 6,698 |
Net identifiable assets acquired |  | $ | 1,323,372 |
Goodwill |  | 728,943 |
Total purchase consideration |  | $ | 2,052,315 |
[1] Includes an inventory valuation step-up of $21.7 million which was recognized as an adjustment to the Company’s cost of revenue in its consolidated statement of operations for the three months ended June 30, 2025. The preliminary fair value was determined based on level 3 inputs including the estimated selling price of the inventory, less the remaining estimated costs to sell such inventory and an estimated normal profit margin on the disposal efforts.
Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived and Indefinite-Lived | The identifiable customer relationships asset acquired will be amortized on a straight-line basis over its estimated useful life. The following table summarizes the estimated fair value of identifiable intangible assets acquired and their respective remaining amortization periods:
|  | Estimated Useful Life in Years |  | At April 1, 2025
Brands |  | Indefinite |  | $ | 1,104,000 |
Customer relationships |  | 5 |  | 111,000
Total intangibles acquired |  |  |  | $ | 1,215,000 |
Schedule of Pro forma Consolidated Financial Information | The following unaudited pro forma financial information summarizes the results of operations for the periods indicated as if the Acquisition had been completed on January 1, 2024. The unaudited pro forma information is not necessarily indicative of the results that the Company would have achieved had the Acquisition actually occurred on January 1, 2024, nor does such information purport to be indicative of future financial operating results.
|  | Three Months Ended June 30,
|  | 2025 |  | 2024
Revenue |  | $ | 739,259 |  |  | $ | 547,650 |
Net income |  | 116,424 |  |  | 70,659 |
Net income attributable to common stockholders |  | $ | 100,956 |  |  | $ | 58,764 |
|  | Six Months Ended June 30,
|  | 2025 |  | 2024
Revenue |  | $ | 1,300,024 |  |  | $ | 1,040,781 |
Net income |  | 216,165 |  |  | 120,522 |
Net income attributable to common stockholders |  | $ | 186,603 |  |  | $ | 98,374 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The acquired intangible asset fair values consisted of the following, which are amortized on a straight-line basis over their estimated useful lives:
| Estimated Useful Life in Years |  | At November 1, 2024
Customer relationships | 6 |  | $ | 900 |
Brands | 3 |  | 500 |
Intangibles |  |  | $ | 1,400 |

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