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Acquisitions (Tables)

9 Months Ended

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	)

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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