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Business Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Allocation of Aggregate Purchase Price | The following table summarizes the preliminary allocation of the purchase consideration for all acquisitions as of June 30, 2022 (in thousands):
Assets and Liabilities | 2022 Acquisitions
Accounts receivable | $ | 6,703 |
Prepaid expenses and other current assets |  | 897 |
Property and equipment |  | 370 |
Trade names |  | 11,902 |
Customer relationship |  | 22,170 |
Goodwill |  | 81,725 |
Other intangibles |  | 16,830 |
Other long-term assets |  | 11 |
Accounts payable and accrued expenses |  | (3,383) |
Deferred revenue |  | (19,274) |
Deferred tax liability |  | (10,485) |
Other long-term liabilities |  | (326) |
Total | $ | 107,140 |
The following table summarizes the allocation of the purchase consideration for all acquisitions as of June 30, 2021, including individually material acquisitions noted separately (in thousands):
Assets and Liabilities | Valuation
Accounts receivable | $ | 3,278 |
Prepaid expenses and other current assets |  | 2,512 |
Property and equipment |  | 1,838 |
Operating lease right-of-use assets, noncurrent |  | 5,888 |
Trade names |  | 10,007 |
Customer relationship |  | 5,000 |
Goodwill |  | 55,439
Other intangibles |  | 29,237 |
Other long-term assets |  | 62 |
Deferred tax asset |  | 231 |
Accounts payable and accrued expenses |  | (2,656) |
Deferred revenue |  | (7,048) |
Operating lease liabilities, current |  | (7,191) |
Other current liabilities |  | (14) |
Deferred tax liability |  | (4,122) |
Other long-term liabilities |  | (1,491) |
Total | $ | 90,970 |
The following table summarizes the allocation of the purchase consideration for the SEOmoz acquisition (in thousands):
Assets and Liabilities | Valuation
Accounts receivable | $ | 3,278 |
Prepaid expenses and other current assets |  | 2,512 |
Property and equipment |  | 1,838 |
Operating lease right of use asset |  | 5,888 |
Trade names |  | 7,200 |
Customer relationships |  | 5,000 |
Goodwill |  | 41,192 |
Other intangibles |  | 21,607 |
Other long-term assets |  | 62 |
Intercompany |  | 235 |
Accounts payables and accrued expenses |  | (2,656) |
Other current liabilities |  | (14) |
Deferred revenue |  | (7,048) |
Operating lease liabilities, current |  | (7,191) |
Deferred tax liability |  | (4,122) |
Other long-term liabilities |  | (785) |
Total | $ | 66,996 |
Pro Forma Financial Information | The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its 2022 acquisitions as if each acquisition had occurred on January 1, 2021 (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (unaudited) |  | (unaudited) |  | (unaudited) |  | (unaudited)
Revenues | $ | 343,275 |  |  | $ | 353,283 |  |  | $ | 668,309 |  |  | $ | 676,929 |
Net (loss) income from continuing operations | $ | (46,300) |  |  | $ | (22,941) |  |  | $ | (21,543) |  |  | $ | 15,778 |
(Loss) income per common share from continuing operations - Basic | $ | (0.99) |  |  | $ | (0.51) |  |  | $ | (0.46) |  |  | $ | 0.35 |
(Loss) income per common share from continuing operations - Diluted | $ | (0.99) |  |  | $ | (0.51) |  |  | $ | (0.46) |  |  | $ | 0.33 |
The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its acquisitions during the three months and six months ended as June 30, 2021 as if each acquisition had occurred on January 1, 2020 (in thousands, except per share amounts):
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021
| (unaudited) |  | (unaudited)
Revenues | $ | 351,172 |  |  | $ | 680,194 |  |  |
Net (loss) income from continuing operations | $ | (22,156) |  |  | $ | 19,456 |  |  |
(Loss) income per common share from continuing operations - Basic | $ | (0.50) |  |  | $ | 0.44 |  |  |
(Loss) income per common share from continuing operations - Diluted | $ | (0.50) |  |  | $ | 0.41 |  |  |
The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and SEOmoz as if the acquisition had occurred on January 1, 2020 (in thousands, except per share amounts):
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021
| (unaudited) |  | (unaudited)
Revenues | $ | 349,473 |  |  | $ | 673,401 |  |  |
Net (loss) income from continuing operations | $ | (22,247) |  |  | $ | 18,767 |  |  |
(Loss) income per common share from continuing operations - Basic | $ | (0.50) |  |  | $ | 0.42 |  |  |
(Loss) income per common share from continuing operations - Diluted | $ | (0.50) |  |  | $ | 0.40 |  |  |

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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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