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Acquisition (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combinations [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | The fair value of assets acquired, including goodwill and intangibles, and liabilities assumed for the purchase are as follows (in thousands):
|  | Amount
Accounts receivable |  | 178 |
Inventories |  | 7,041 |
Property, plant and equipment |  | 479 |
Prepaid expenses and other assets |  | 117 |
Other asset |  | 28 |
Tangible assets acquired |  | 7,843 |
Deferred revenue |  | (5,513) |
Accounts payable and accrued liabilities |  | (30) |
Total net tangible assets acquired and liabilities assumed |  | 2,300 |
Intangible assets |  | 500 |
Goodwill |  | 550 |
Net assets acquired |  | $ | 3,350 |
The purchase price allocated to the underlying assets acquired, including goodwill and intangibles, and liabilities assumed based on the final amounts are as follows (in thousands):
|  | Amount
Cash and cash equivalents |  | $ | 1,680 |
Accounts receivable |  | 1,017 |
Inventory |  | 3,047 |
Property, plant and equipment |  | 669 |
Operating lease, right-of-use-assets |  | 2,554 |
Prepaid expenses and other assets |  | 916 |
Tangible assets acquired |  | 9,883 |
Deferred revenue |  | (2,529) |
Accounts payable and accrued liabilities |  | (1,268) |
Operating lease liabilities |  | (2,554) |
Deferred tax liability |  | (2,400) |
Total net tangible assets acquired and liabilities assumed |  | 1,132 |
Intangible assets |  | 11,520 |
Goodwill |  | 5,908 |
Net assets acquired |  | $ | 18,560 |
The purchase price allocated to the underlying assets acquired, including goodwill and intangibles, and liabilities assumed based on the final amounts are as follows (in thousands):
|  | Amount
Accounts receivable |  | $ | 4,365 |
Inventory |  | 2,727 |
Property, plant and equipment |  | 9,053 |
Operating lease, right-of-use-assets |  | 519 |
Prepaid expenses and other assets |  | 56 |
Tangible assets acquired |  | 16,720 |
Accounts payable and accrued liabilities |  | (743) |
Operating lease liabilities |  | (519) |
Total net tangible assets acquired and liabilities assumed |  | 15,458 |
Intangible assets |  | 13,600 |
Goodwill |  | 5,942 |
Net assets acquired |  | $ | 35,000 |
Summary of Finite-Lived Intangible Assets Acquired | The intangible assets as of the acquisition date included (in thousands):
|  | Amount |  | Weighted Average Useful Life (in years)
Developed technologies |  | $ | 7,500 |  |  | 10.0
Customer relationships |  | 3,600 |  |  | 5.0
Order backlog |  | 200 |  |  | 0.5
Trade names |  | 220 |  |  | 5.0
Total intangible assets |  | $ | 11,520 |  |  | 8.2
The intangible assets as of the acquisition date included (in thousands):
|  | Amount |  | Weighted Average Useful Life (in years)
Developed technologies |  | $ | 8,800 |  |  | 10.0
Customer relationships |  | 4,400 |  |  | 3.0
In-process research and development |  | 400 |  |  | N/A
Total intangible assets |  | $ | 13,600 |  |  | 7.7

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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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