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Business Combination and Related Transactions (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table provides the assets acquired and liabilities assumed as of the date of acquisition (in thousands):
| Estimated Fair Value
Purchase consideration | $ | 306,602 |
Amounts of identifiable assets and liabilities assumed |
Cash and cash equivalents | $ | 32,137 |
Short-term investments | 155,031 |
Accounts receivable, net | 8,611 |
Inventory | 9,700 |
Prepaid expenses and other current assets | 4,387 |
Unbilled receivable, non-current portion | 6,657 |
Property and equipment, net | 9,900 |
Operating lease, right-of-use assets | 10,887 |
Intangible assets, net | 13,000 |
Other non-current assets | 1,047 |
Accounts payable | (3,356) |
Accrued and other current liabilities | (32,821) |
Contract liabilities, current | (5,475) |
Operating lease liability, current portion | (3,735) |
Operating lease liability, non-current portion | (11,940) |
Contract liabilities, non-current portion | (2,206) |
Other non-current liabilities | (745) |
Total identifiable net assets | $ | 191,079 |
Goodwill | 115,523 |
| $ | 306,602 |
Schedule of Acquired Indefinite-Lived Intangible Assets by Major Class | Identified intangible assets acquired and their estimated useful lives as of February 10, 2023, were (in thousands, except years):
| Estimated Useful Life (in years) |  | Estimated Fair Value
Developed technology – Hardware | 3 |  | $ | 2,500 |
Developed technology – Software | 5 |  | 5,100 |
Customer relationships | 8 |  | 5,400 |
Intangible assets, net | 5.9 |  | $ | 13,000 |
Schedule of Business Acquisition, Pro Forma Information | The unaudited supplemental pro forma information below presents the combined historical results of operations of the Company and Velodyne as if Velodyne had been acquired as of January 1, 2022 (in thousands):
|  |  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30,
|  |  | 2023 |  |  |  | 2023
Revenue |  |  | $ | 19,396 |  |  |  |  | $ | 36,626 |
Net loss |  |  | $ | (122,733) |  |  |  |  | $ | (300,013) |
The unaudited supplemental pro forma information above includes the following adjustments to net loss in the appropriate pro forma periods (in thousands):
|  |  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30,
|  |  | 2023 |  |  |  | 2023
An increase in amortization expense related to the fair value of acquired identifiable intangible assets, net of the amortization expense already reflected in actual historical results |  |  | $ | — |  |  |  |  | $ | (277) |
A decrease in expenses related to the transaction expenses |  |  | $ | — |  |  |  |  | $ | 6,058 |
A net increase in revenue related to the impact of the acceleration of the Amazon Warrant vesting recognized by Velodyne at the close of the Velodyne Merger transaction |  |  | $ | — |  |  |  |  | $ | 3,656 |
A decrease in expenses related to the impact of the acceleration of the Amazon Warrant vesting recognized by Velodyne at the close of the Velodyne Merger transaction |  |  | $ | — |  |  |  |  | $ | 26,704 |
Represents decrease in additional stock-based compensation expense related to Ouster employee terminations due to change in control. |  |  | $ | — |  |  |  |  | $ | 6,383 |
Represents a decrease in severance expense in connection with the Velodyne Merger transaction |  |  | $ | — |  |  |  |  | 10,586 |

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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 acquired indefinite-lived intangible asset by major class. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + 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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