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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following presents the final allocation of the purchase consideration to the assets acquired and liabilities assumed for Symeo, TeraXion and ON Design Israel as of December 31, 2022:
|  | Symeo GmbH |  | TeraXion |  | ON Design Israel
Purchase price - cash consideration |  | $ | 10,000 |  |  | $ | 74,050 |  |  | $ | 6,107 |
Purchase price - cash consideration (Accrual) |  | 9,674 |  |  | — |  |  | 7,500 |
Add: debt paid at closing |  | — |  |  | 6,857 |  |  | — |
Less: cash acquired |  | (1,295) |  |  | (5,625) |  |  | (1,133) |
Net cash paid |  | 18,379 |  |  | 75,282 |  |  | 12,474 |
Purchase price - equity consideration |  |  |  |  |  |
Common stock |  | — |  |  | 65,192 |  |  | — |
Options |  | — |  |  | 17,249 |  |  | — |
Total equity consideration |  | — |  |  | 82,441 |  |  | — |
Earn out shares |  | 7,836 |  |  | — |  |  | — |
Contingent consideration |  | — |  |  | — |  |  | 4,000 |
Net consideration |  | $ | 26,215 |  |  | $ | 157,723 |  |  | $ | 16,474 |
Fair value of net assets and liabilities assumed: |  |  |  |  |  |
Current assets other than cash |  | 2,767 |  |  | 7,627 |  |  | 119 |
Property and equipment |  | 1,039 |  |  | 4,992 |  |  | 1,424 |
Developed technology |  | 5,060 |  |  | 17,305 |  |  | — |
In-progress research & development |  | 4,060 |  |  | — |  |  | 10,100 |
Customer relationships |  | 4,510 |  |  | 13,059 |  |  | — |
Backlog |  | 350 |  |  | 16 |  |  | — |
Trade name |  | 2,590 |  |  | 6,946 |  |  | — |
Other non-current assets |  | 36 |  |  | — |  |  | 66 |
Current liabilities |  | (1,461) |  |  | (5,840) |  |  | (537) |
Deferred revenue |  | — |  |  | (1,025) |  |  | — |
Deferred tax liabilities, non-current |  | (1,055) |  |  | (10,030) |  |  | — |
Long-term debt |  | — |  |  | (7,580) |  |  | — |
Total fair value of net assets acquired |  | 17,896 |  |  | 25,470 |  |  | 11,172 |
Goodwill |  | $ | 8,319 |  |  | $ | 132,253 |  |  | $ | 5,302 |
Schedule of Net Assets Acquired And Goodwill | As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:
| Preliminary Valuation |  | Adjustments |  | Final Valuation
Property and equipment | $ | 6,009 |  |  | $ | (1,017) |  |  | $ | 4,992 |
Developed technology | 43,594 |  |  | (26,289) |  |  | 17,305 |
In-progress research & development | 10,304 |  |  | (10,304) |  |  | — |
Customer relationships | 12,682 |  |  | 377 |  |  | 13,059 |
Backlog | 2,378 |  |  | (2,362) |  |  | 16 |
Trade name | 6,125 |  |  | 821 |  |  | 6,946 |
Deferred tax liabilities, non-current | (20,272) |  |  | 10,242 |  |  | (10,030) |
Goodwill | 103,721 |  |  | 28,532 |  |  | 132,253 |
As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:
| Preliminary Valuation |  | Adjustment |  | Final Valuation
Property and equipment | $ | 1,315 |  |  | $ | 109 |  |  | $ | 1,424 |
Developed technology | 5,077 |  |  | (5,077) |  |  | — |
In-progress research & development | 1,562 |  |  | 8,538 |  |  | 10,100 |
Current liabilities | (754) |  |  | 217 |  |  | (537) |
Goodwill | 9,089 |  |  | (3,787) |  |  | 5,302 |
As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:
| Preliminary Valuation |  | Adjustment |  | Final Valuation
Purchase price - contingent considerations | $ | 8,204 |  |  | $ | (368) |  |  | $ | 7,836 |
Inventory | 2,020 |  |  | (90) |  |  | 1,930 |
Developed technology | 6,631 |  |  | (1,571) |  |  | 5,060 |
In-progress research & development | 2,170 |  |  | 1,890 |  |  | 4,060 |
Customer relationships | 2,411 |  |  | 2,099 |  |  | 4,510 |
Backlog | 603 |  |  | (253) |  |  | 350 |
Trade name | 965 |  |  | 1,625 |  |  | 2,590 |
Deferred tax liability | (2,935) |  |  | 1,880 |  |  | (1,055) |
Goodwill | 14,267 |  |  | (5,948) |  |  | 8,319 |
Subsequent to the issuance of the financial statements for the fiscal year ended December 31, 2021, the Company identified a misstatement in the financial statements related to the recognition of deferred taxes in the purchase accounting for ON Design Israel. The Company recorded the following adjustment:
| December 31, 2021
| Initially reported |  | Adjustment |  | Corrected
Goodwill | $ | 115,206 |  |  | $ | (1,632) |  |  | $ | 113,574 |
Deferred tax liabilities, non-current | $ | 21,164 |  |  | $ | (1,632) |  |  | $ | 19,532 |
Pro Forma Financial Information | The unaudited pro forma financial information shown below summarizes the combined results of operations for the Company and TeraXion as if the closing of the acquisition had occurred on January 1, 2021:
| Year ended
| December 31, 2021
Combined revenue | $ | 66,788 |
Combined net loss before income taxes | (126,350) |

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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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