XML 40 R24.htm IDEA: XBRL DOCUMENT v3.23.1
Acquisitions (Tables)
3 Months Ended
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition The preliminary purchase price allocation is set forth in the table below and is expected to be finalized as soon as practicable, but no later than one year from the acquisition date.
(in thousands)
Consideration:
Cash(1)
$5,026 
Total purchase consideration5,026 
Fair value of class B shares issued in Ovvi(3)
659 
Total enterprise value of business acquired(3)
$5,685 
Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable$110 
Inventory142 
Property, equipment and software, net20 
Goodwill(3)
3,393 
Intangible assets(2)
2,021 
Other non-current asset152 
Other non-current liability(153)
Total enterprise value of business acquired(3)
$5,685 
and
(1)Includes $50,000 withheld for inventory acquired which was subsequently released in March 2023.
(2)The intangible assets consist of $1.3 million for technology, $0.4 million for customer relationships and $0.3 million for trade names.
(3)During the three months ended March 31, 2023, the Company recorded measurement period adjustments due to additional information received related to the valuation of the Class B shares. This measurement period adjustment resulted in a decrease of $0.6 million in goodwill and NCI.