XML 45 R29.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Acquisition (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Pro Forma Financial Information | The following table presents management's current purchase price allocation and the initial purchase price allocation:
(in thousands) | Current purchase price allocation |  | Initial purchase price allocation
Cash | $ | 4,244 |  |  | $ | 4,244 |
Accounts receivable | 1,262 |  |  | 2,208 |
Property and equipment | 307 |  |  | 307 |
Developed technology | 18,200 |  |  | 18,200 |
Customer relationships | 39,400 |  |  | 39,000 |
Trademarks | 5,400 |  |  | 6,600 |
Non-competition agreements | 3,500 |  |  | 4,800 |
Prepaid and other acquired assets | 774 |  |  | 774 |
Goodwill | 137,008 |  |  | 132,140 |
Total assets | 210,095 |  |  | 208,273 |
Accounts payable | 317 |  |  | 317 |
Accrued expenses | 4,459 |  |  | 4,459 |
Deferred revenue | 7,680 |  |  | 5,443 |
Deferred taxes | 7,934 |  |  | 8,349 |
Consideration paid | $ | 189,705 |  |  | $ | 189,705 |
Schedule of Pro Forma Financial Information | The following table summarizes the Company's unaudited pro forma results of operations for the three months ended June 30, 2023 and the six months ended June 30, 2024 and 2023 as if the Stuzo Acquisition had occurred on January 1, 2023:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
(in thousands) | 2023 |  | 2024 |  | 2023 |  |
Total revenue | $ | 79,676 |  |  | $ | 156,066 |  |  | $ | 158,025 |  |  |
Net loss from continuing operations | (21,054) |  |  | (51,359) |  |  | (32,623) |  |  |
The unaudited pro forma results presented above are for illustrative purposes only and do not reflect the realization of actual cost savings or any related integration costs. The unaudited pro forma results do not purport to be indicative of the results that would have been obtained, or to be a projection of results that may be obtained in the future. These unaudited pro forma results include certain adjustments, primarily due to increases in amortization expense due to the fair value adjustments of intangible assets, acquisition related costs and the impact of income taxes on the pro forma adjustments. $2.4 million of acquisition costs have been reflected in the 2023 pro forma results.

X
- 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
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration