XML 32 R23.htm IDEA: XBRL DOCUMENT
v3.23.3

BUSINESS COMBINATIONS (Tables) | 9 Months Ended
--- | ---
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Estimated Fair Values of the Assets Acquired and Liabilities Assumed as Part of a Business Acquisition | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed from the HooYu Acquisition as of June 30, 2023 (amounts in thousands):
|  |  | HooYu |
Accounts receivable |  |  | $ | 1,234 |  |
Property, plant, and equipment |  |  | 504 |  |
Other current assets |  |  | 630 |  |
Intangible assets |  |  | 73,100 |  |
Goodwill |  |  | 74,206 |  |
Current liabilities |  |  | (2,264) |  |
Deferred revenue |  |  | (2,612) |  |
Deferred income tax liabilities |  |  | (16,896) |  |
Net assets acquired |  |  | $ | 127,902 |  |
Schedule of Intangible Assets Acquired | The following table summarizes the estimated fair values and estimated useful lives of intangible assets with definite lives acquired from the HooYu Acquisition as of June 30, 2023 (amounts in thousands, except for years):
| Amortization Period |  | Amount assigned
Completed technologies | 7 years |  | $ | 61,400 |
Customer relationships | 5 years |  | 5,000 |
Trade name | 5 years |  | 6,100 |
Covenants not to compete | 3 years |  | 600 |
Total intangible assets acquired |  |  | $ | 73,100 |
Schedule of Pro Forma Information | The following unaudited pro forma financial information should not be taken as representative of the Company’s future consolidated results of operations and includes adjustments for the amortization expense related to the identified intangible assets. The following table summarizes the Company’s unaudited pro forma financial information and is presented as if the HooYu Acquisition occurred on October 1, 2021 (amounts shown in thousands):
| Three months ended June 30, 2022 As Restated |  |  | Nine months ended June 30, 2022 As Restated |  |  |  |  |
Pro forma revenue | $ | 39,195 |  |  |  | $ | 110,915 |  |  |  |  |  |  |  |  |  |
Pro forma net income (loss) | $ | (215) |  |  |  | $ | (6,311) |  |  |  |  |  |  |  |  |  |
The following table summarizes the results of HooYu that are included in the Company’s consolidated results (amounts shown in thousands):
| Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2023 |  | 2022 As Restated |  | 2023 |  | 2022 As Restated
Revenue | $ | 4,100 |  |  | $ | 2,653 |  |  | $ | 10,124 |  |  | $ | 2,958 |
Net income (loss) | $ | (3,028) |  |  | $ | (3,764) |  |  | $ | (10,798) |  |  | $ | (4,015) |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration