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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Acquisitions | The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed (in thousands):
Assets acquired: |
Cash and cash equivalents | $ | 2,789 |
Trade accounts receivable, net | 945 |
Prepaid expenses | 1,208 |
Other current assets | 10 |
Intangible assets acquired | 9,400 |
Operating lease assets | 252 |
Liabilities assumed: |
Accounts payable | (605) |
Accrued liabilities | (599) |
Income taxes payable | (45) |
Deferred revenue | (3,230) |
Operating lease liabilities | (191) |
Deferred tax liability | (2,398) |
Goodwill | 17,550 |
Total purchase consideration | $ | 25,086 |
The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed (in thousands):
Assets acquired: |
Cash and cash equivalents | $ | 820 |
Trade accounts receivable, net | 448 |
Prepaid expenses | 39 |
Other current assets | 2,104 |
Intangible assets acquired | 9,500 |
Operating lease assets | 104 |
Liabilities assumed: |
Accounts payable | (73) |
Accrued liabilities | (2,260) |
Income taxes payable | (48) |
Deferred revenue | (1,014) |
Operating lease liabilities | (85) |
Deferred tax liability | (529) |
Goodwill | 35,458 |
Total purchase consideration | $ | 44,464 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The estimated useful lives and fair values of the identifiable intangible assets acquired were as follows:
| Useful Life |  | Gross Value
|  |  | (in thousands)
Customer relationships | 6.0 years |  | $ | 5,000 |
Developed technology | 5.0 years |  | 4,400 |
Total identifiable intangible assets |  |  | $ | 9,400 |
The estimated useful lives and fair values of the identifiable intangible assets acquired were as follows:
| Useful Life |  | Gross Value
|  |  | (in thousands)
Developed technology | 5.0 years |  | $ | 5,900 |
Customer relationships | 5.0 years |  | 2,300 |
Non-competes | 3.0 years |  | 1,300 |
Total identifiable intangible assets |  |  | $ | 9,500 |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -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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