XML 41 R28.htm IDEA: XBRL DOCUMENT v3.24.1
Business Combination (Tables)
 12 Months Ended
Jan. 31, 2024
Business Combinations [Abstract]  
Summary of Aggregate Purchase Consideration

The aggregate purchase consideration has been allocated as follows:

 

 

 

Amount

 

 

 

(in thousands)

 

Cash consideration transferred

 

$

355,071

 

Net working capital adjustment

 

 

247

 

Fair value of stock-based compensation awards attributable to pre-combination services

 

 

407

 

Total purchase consideration

 

$

355,725

 
Summary of Intangible Assets Acquired in Acquisition

Below is a summary of intangible assets acquired in the acquisition:

 

 

 

Acquisition Date

 

 

Estimated

 

 

Fair Value

 

 

Useful Lives

 

 

(in thousands)

 

 

 

Trade name (1)

$

2,500

 

 

7 years

Customer relationships (2)

 

 

13,200

 

 

9 years

Developed technology (1)

 

 

17,100

 

 

7 years

Total intangible assets acquired

$

32,800

 

 

 

_____________

(1)
The fair values of trade name and developed technology were determined by applying the Relief-from-Royalty Method under the income approach.
(2)
Customer relationships represent the fair value of the existing relationships using the Multi-Period Excess Earnings Method.
Summary of Unaudited Information The following table presents unaudited pro forma information as if the acquisition of Oculii had occurred in the beginning of the applicable comparable prior annual reporting period. The unaudited pro forma information for the period indicated includes adjustments for non-recurring transaction costs, amortization of intangibles arising from the acquisition, stock-based compensation expense and the related income tax effects. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the acquisition been effected at the beginning of the period presented. In addition, these results are not intended to be a projection of future results and do not reflect events that may occur after the acquisition, including but not limited to revenue enhancements, cost savings or operating synergies that the combined entity may achieve as a result of the acquisition.

 

 

 

Pro Forma Year Ended

 

 

 

January 31, 2022

 

 

 

(unaudited, in thousands)

 

Revenue

 

$

333,323

 

Net loss

 

$

(35,330

)