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Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions, by Acquisition The following presents the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed for emotion3D and the final allocation of the purchase consideration to the assets acquired and liabilities assumed for indie Switzerland and Kinetic as of December 31, 2025:

 

 

 

emotion3D GmbH

 

 

Kinetic

 

 

indie Switzerland

 

 

Purchase price — cash consideration paid

 

$

16,621

 

 

$

3,200

 

 

$

—

 

 

Purchase price — cash consideration accrued

 

 

2,970

 

 

 

1,300

 

 

—

 

 

Debt paid at closing

 

 

2,002

 

 

 

—

 

 

 

—

 

 

Less: cash acquired

 

 

(950

)

 

—

 

 

 

(3,439

)

 

Net cash consideration

 

$

20,643

 

 

$

4,500

 

 

$

(3,439

)

 

 

 

 

 

 

 

 

 

 

 

 

Purchase price — equity consideration issued (common stock)

 

$

—

 

 

$

—

 

 

$

42,791

 

 

Purchase price — equity consideration issuable (common stock)

 

—

 

 

—

 

 

 

2,500

 

 

Total equity consideration

 

$

—

 

 

$

—

 

 

$

45,291

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

 

7,287

 

 

 

4,599

 

 

 

9,755

 

 

Net consideration

 

$

27,930

 

 

$

9,099

 

 

$

51,607

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated fair value of net assets and liabilities assumed:

 

 

 

 

 

 

 

 

 

 

Current assets other than cash

 

$

2,220

 

 

$

5,306

 

 

$

4,531

 

 

Property and equipment

 

 

120

 

 

 

950

 

 

 

1,253

 

 

Developed technology

 

 

7,877

 

 

 

250

 

 

 

23,100

 

 

In-process research & development

 

 

511

 

 

 

1,250

 

 

 

7,600

 

 

Customer relationships

 

 

3,954

 

 

 

160

 

 

 

6,870

 

 

Backlog

 

 

400

 

 

 

170

 

 

 

1,220

 

 

Trade name

 

 

599

 

 

 

15

 

 

 

4,300

 

 

Other non-current assets

 

 

73

 

 

 

729

 

 

—

 

 

Current liabilities

 

 

(1,145

)

 

 

(753

)

 

 

(3,541

)

 

Deferred revenue

 

 

—

 

 

—

 

 

—

 

 

Deferred tax liabilities, non-current

 

 

(3,073

)

 

—

 

 

 

(8,660

)

 

Other non-current liabilities

 

 

—

 

 

 

(217

)

 

—

 

 

Total fair value of net assets acquired

 

$

11,536

 

 

$

7,860

 

 

$

36,673

 

 

Goodwill

 

$

16,394

 

 

$

1,239

 

 

$

14,934

 

 

As of September 30, 2024, the Company finalized the opening net assets acquired and goodwill as follows:

 

 

 

Preliminary
Valuation

 

 

Adjustment

 

 

Final Valuation

 

Purchase price — contingent considerations

 

$

13,225

 

 

$

(3,470

)

 

$

9,755

 

 

 

 

 

 

 

 

 

 

 

Inventory

 

 

1,934

 

 

 

123

 

 

 

2,057

 

Property and equipment

 

 

1,001

 

 

 

252

 

 

 

1,253

 

Developed technology

 

 

7,968

 

 

 

15,132

 

 

 

23,100

 

In-progress research & development

 

 

7,968

 

 

 

(368

)

 

 

7,600

 

Customer relationships

 

 

5,312

 

 

 

1,558

 

 

 

6,870

 

Backlog

 

 

664

 

 

 

556

 

 

 

1,220

 

Trade name

 

 

3,984

 

 

 

316

 

 

 

4,300

 

Deferred tax liabilities, non-current

 

 

(5,330

)

 

 

(3,330

)

 

 

(8,660

)

Operating lease right-of-use assets step-up

 

 

664

 

 

 

(664

)

 

—

 

Goodwill

 

 

31,979

 

 

 

(17,045

)

 

 

14,934

 
Schedule of Asset Acquisition

As of December 31, 2024, the Company finalized the opening net assets acquired and goodwill as follows:

 

 

 

Preliminary
Valuation

 

 

Adjustment

 

 

Final Valuation

 

Inventory

 

 

4,444

 

 

 

(734

)

 

 

3,710

 

Property and equipment

 

 

962

 

 

 

(12

)

 

 

950

 

Developed technology

 

 

455

 

 

 

(205

)

 

 

250

 

In-progress research & development

 

 

750

 

 

 

500

 

 

 

1,250

 

Customer relationships

 

 

250

 

 

 

(90

)

 

 

160

 

Backlog

 

 

19

 

 

 

151

 

 

 

170

 

Trade name

 

 

97

 

 

 

(82

)

 

 

15

 

Goodwill

 

 

767

 

 

 

472

 

 

 

1,239