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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 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 |  |  | 1,562 |
Accounts Receivable |  |  | 22,026 |
Inventory |  |  | 21,423 |
Prepaid and Other Current Assets |  |  | 2,168 |
Property, Plant & Equipment |  |  | 1,161 |
Other Assets |  |  | 3,478 |
Intangible Assets |  |  | 47,769 |
Accounts Payable |  |  | (12,716 | )
Accrued Liabilities |  |  | (6,352 | )
Lease Payable |  |  | (2,726 | )
Deferred Tax Liability |  |  | (6,898 | )
Total identifiable net assets |  |  | 70,895 |
Goodwill |  |  | 46,014 |
Total consideration paid |  | $ | 116,909 |
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 |  | $ | 15,607 |
Customer relationships |  | 6 Years |  |  | 4,456 |
Developed technology |  | 6 Years |  |  | 27,706 |
Total |  |  |  | $ | 47,769 |
Summary of Pro Forma Financial Information (Unaudited) | The following table reflects the unaudited pro forma operating results of the Company for the three and nine months ended September 30, 2024 and 2023, which give effect to the acquisition of PDP as if it had occurred on January 1, 2023.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |  |  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |
Net revenue |  | $ | 94,363 |  |  | $ | 81,410 |  |  | $ | 246,707 |  |  | $ | 219,724 |
Net income (loss) |  | $ | 3,153 |  |  | $ | (12,052 | ) |  | $ | (3,912 | ) |  | $ | (44,817 | )

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- 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
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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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 -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
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