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Business Combination (Tables) | 3 Months Ended
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Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
Schedule of Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair values of assets acquired and liabilities assumed in the C2i Acquisition at the Closing Date (in thousands):
|  | Amount
Assets acquired: |  |
Cash and cash equivalents |  | $ | 13,677 |
Prepaid expenses and other current assets |  | 998 |
Property, plant and equipment, net |  | 277 |
Right of use assets, operating leases |  | 1,277 |
Intangible assets, net |  | 31,500 |
Restricted cash |  | 188 |
Total identifiable assets acquired |  | 47,917 |
Accounts payable |  | (59) |
Accrued Liabilities |  | (1,540) |
Current portion of deferred revenue |  | (94) |
Current portion of operating lease liabilities |  | (441) |
Deferred tax liability |  | (726) |
Operating lease liabilities, net of current portion |  | (836) |
Net identifiable assets acquired |  | 44,221 |
Goodwill |  | 55,974 |
Total purchase price |  | $ | 100,195 |
Schedule of Intangible Assets Acquired | The preliminary fair value of the Company's intangible assets as of the acquisition date and the method used to value these assets as well as the estimated economic lives for amortizable intangible assets were as follows (in thousands, except useful life which is in years):
|  | Fair Value |  | Estimated Useful Life |  | Valuation Method
Intangible Assets Acquired: |  |  |  |  |  |
Developed Technology |  | $ | 25,300 |  |  | 15 |  | Relief from royalty method
IPR&D assets |  | 6,200 |  |  | Indefinite |  | Multi-period excess earnings method
Total intangible assets acquired |  | $ | 31,500 |  |  |  |  |
Schedule of Pro Forma Financial Information | Further, adjustments related to transaction costs and stock- based compensation expense are also reflected in the pro forma financial information in the table below:
|  | For the three months ended March 31,
|  | 2024 |  | 2023
Total revenue |  | $ | 96,844 |  |  | $ | 82,422 |
Net loss |  | $ | (4,019) |  |  | $ | (20,087) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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