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Acquisition (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Allocation of Purchase Price | The following summarizes the preliminary allocation of the BioConnect purchase price based on the fair value of the assets acquired and liabilities assumed, as of July 1, 2025:
|  | July 1, 2025 |  |  |  |
Total Consideration: |  |  |  |  |  |
Cash paid |  | $ | 12,996,275 |  |  |  |  |
Less: cash acquired |  | (113,545) |  |  |  |  |
Total transaction consideration, net |  | $ | 12,882,730 |  |  |  |  |
Preliminary Allocation: |  |  |  |  |  |
Assets acquired |  |  |  |  |  |
Accounts receivable |  | $ | 1,836,809 |  |  |  |  |
Inventory |  | 1,176,471 |  |  |  |  |
Prepaid expenses and other current assets |  | 111,143 |  |  |  |  |
Property, plant, and equipment |  | 63,866 |  |  |  |  |
Trade names and trademarks |  | 882,353 |  |  |  |  |
Developed technology |  | 6,617,647 |  |  |  |  |
Customer relationships |  | 1,764,706 |  |  |  |  |
Goodwill |  | 3,399,491 |  |  |  |  |
Total assets acquired, excluding cash |  | 15,852,486 |  |  |  |  |
Liabilities assumed: |  |  |  |  |  |
Accounts payable |  | 603,234 |  |  |  |  |
Accrued expenses and other current liabilities |  | 369,074 |  |  |  |  |
Other liabilities |  | 1,997,448 |  |  |  |  |
Total liabilities assumed |  | 2,969,756 |  |  |  |  |
Net assets acquired, excluding cash |  | $ | 12,882,730 |  |  |  |  |
Schedule of Assets Acquired and Liabilities Assumed | The following summarizes the preliminary allocation of the BioConnect purchase price based on the fair value of the assets acquired and liabilities assumed, as of July 1, 2025:
|  | July 1, 2025 |  |  |  |
Total Consideration: |  |  |  |  |  |
Cash paid |  | $ | 12,996,275 |  |  |  |  |
Less: cash acquired |  | (113,545) |  |  |  |  |
Total transaction consideration, net |  | $ | 12,882,730 |  |  |  |  |
Preliminary Allocation: |  |  |  |  |  |
Assets acquired |  |  |  |  |  |
Accounts receivable |  | $ | 1,836,809 |  |  |  |  |
Inventory |  | 1,176,471 |  |  |  |  |
Prepaid expenses and other current assets |  | 111,143 |  |  |  |  |
Property, plant, and equipment |  | 63,866 |  |  |  |  |
Trade names and trademarks |  | 882,353 |  |  |  |  |
Developed technology |  | 6,617,647 |  |  |  |  |
Customer relationships |  | 1,764,706 |  |  |  |  |
Goodwill |  | 3,399,491 |  |  |  |  |
Total assets acquired, excluding cash |  | 15,852,486 |  |  |  |  |
Liabilities assumed: |  |  |  |  |  |
Accounts payable |  | 603,234 |  |  |  |  |
Accrued expenses and other current liabilities |  | 369,074 |  |  |  |  |
Other liabilities |  | 1,997,448 |  |  |  |  |
Total liabilities assumed |  | 2,969,756 |  |  |  |  |
Net assets acquired, excluding cash |  | $ | 12,882,730 |  |  |  |  |
The following summarizes the preliminary allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed, as of the Closing Date. The fair value of the Class A Common Stock acquired through this step acquisition is included in the totals presented below:
|  | April 1, 2025 |  | Measurement Period Adjustments |  | April 1, 2025 (as adjusted)
Total Consideration: |  |  |  |  |  |
Cash paid |  | $ | 148,256,998 |  |  | $ | — |  |  | $ | 148,256,998 |
Less: cash acquired |  | (9,077,136) |  |  | — |  |  | (9,077,136) |
Total cash paid, net |  | 139,179,862 |  |  | — |  |  | 139,179,862 |
Fair value of previously held investment in VOXX |  | 48,478,560 |  |  | — |  |  | 48,478,560 |
Total transaction consideration, net |  | $ | 187,658,422 |  |  | $ | — |  |  | $ | 187,658,422 |
Preliminary Allocation: |  |  |  |  |  |
Assets acquired |  |  |  |  |  |
Accounts receivable |  | $ | 56,719,726 |  |  | $ | — |  |  | $ | 56,719,726 |
Inventory |  | 96,718,000 |  |  | — |  |  | 96,718,000 |
Prepaid expenses and other current assets |  | 20,294,973 |  |  | — |  |  | 20,294,973 |
Income tax recoverable |  | 5,243,038 |  |  | — |  |  | 5,243,038 |
Property, plant, and equipment |  | 44,977,000 |  |  | — |  |  | 44,977,000 |
Equity investment |  | 19,000,000 |  |  | — |  |  | 19,000,000 |
Deferred tax asset |  | 32,537,099 |  |  | — |  |  | 32,537,099 |
Goodwill |  | — |  |  | 12,845,539 |  |  | 12,845,539 |
Operating lease, right of use assets |  | 5,404,163 |  |  | — |  |  | 5,404,163 |
Other assets |  | 3,445,075 |  |  | — |  |  | 3,445,075 |
Total assets acquired, excluding cash |  | 284,339,074 |  |  | 12,845,539 |  |  | 297,184,613 |
Liabilities assumed: |  |  |  |  |  |
Accounts payable |  | 31,347,556 |  |  | (251,301) |  |  | 31,096,255 |
Accrued expenses and other current liabilities |  | 51,772,746 |  |  | 13,096,840 |  |  | 64,869,586 |
Income taxes payable |  | 684,033 |  |  | — |  |  | 684,033 |
Debt |  | 3,909,290 |  |  | — |  |  | 3,909,290 |
Other tax liabilities |  | 791,593 |  |  | — |  |  | 791,593 |
Operating lease liabilities |  | 3,435,604 |  |  | — |  |  | 3,435,604 |
Other liabilities |  | 1,260,830 |  |  | — |  |  | 1,260,830 |
Total liabilities assumed |  | 93,201,652 |  |  | 12,845,539 |  |  | 106,047,191 |
Redeemable and non-redeemable non-controlling interests in consolidated subsidiaries |  | 3,479,000 |  |  | — |  |  | 3,479,000 |
Net assets acquired, excluding cash |  | $ | 187,658,422 |  |  | $ | — |  |  | $ | 187,658,422 |
Schedule of Redeemable Noncontrolling Interest | The following table provides the rollforward of the redeemable non-controlling interest for the nine months ended September 30, 2025:
| Redeemable Non-controlling Interest
Balance at January 1, 2025 | $ | — |
Acquisition of redeemable non-controlling interest at fair value on April 1, 2025 | 2,823,000 |
Net loss attributable to non-controlling interest | (414,641) |
Comprehensive loss attributable to non-controlling interest | (132,005) |
Foreign currency translation | 43,304 |
Balance at September 30, 2025 | 2,319,658 |

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