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Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Business Combinations [Abstract]

Summary of Preliminary Allocation of Consideration Transferred to Assets Acquired and Liabilities Assumed

The following table summarizes preliminary allocation of the consideration transferred to the assets acquired and liabilities assumed at the acquisition date:

(In thousands)		Amount
Cash			3,362
Accounts Receivable			22,026
Inventory			23,243
Prepaid and Other Current Assets			2,244
Property, Plant & Equipment			1,161
Other Assets			3,056
Intangible Assets			47,649
Accounts Payable			(10,135	)
Accrued Liabilities			(9,031	)
Lease Payable			(1,890	)
Deferred Tax Liability			(6,996	)
Total identifiable net assets			74,689
Goodwill			42,221
Total consideration paid		$	116,910

Summary of Preliminary Allocation of Purchase Consideration to Identifiable Intangible Assets

The following table summarizes the preliminary allocation of purchase consideration to identifiable intangible assets:

(In thousands)		Life		Amount
Tradenames		7 Years		$	15,159
Customer relationships		6 Years			2,067
Developed technology		6 Years			30,423
Total				$	47,649

Summary of Pro Forma Financial Information (Unaudited)

The following table reflects the unaudited pro forma operating results of the Company for the three months ended March 31, 2024 and 2023, which give effect to the acquisition of PDP as if it had occurred on January 1, 2023.

		Three Months Ended
		March 31,				March 31,
		2024				2023
	(in thousands)
Net revenue		$	77,832			$	69,993
Net income (loss)		$	(2,516	)		$	(20,814	)

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

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- References

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X

- Definition

Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

+ References

No definition available.

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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

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