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Acquisitions and Divestiture (Tables)
 12 Months Ended
Dec. 31, 2023
Business Acquisition [Line Items]  
Summary of the Carrying Amounts of Assets and Liabilities Classified as Held for Sale

The following table summarizes the carrying amounts of assets and liabilities classified as held for sale in connection with the Divestiture on the Company’s consolidated balance sheet as of December 31, 2023 (in thousands):

 

 

December 31, 2023

 

 

 

Current

 

 

Noncurrent

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

12,349

 

 

$

—

 

 

$

12,349

 

Accounts receivable, net

 

 

1,323

 

 

 

—

 

 

 

1,323

 

Unbilled contracts receivable, net

 

 

1,209

 

 

 

5,320

 

 

 

6,529

 

Prepaid expenses and other current assets

 

 

979

 

 

 

—

 

 

 

979

 

Property and equipment, net

 

 

—

 

 

 

2,391

 

 

 

2,391

 

Operating lease right-of-use assets

 

 

—

 

 

 

3,346

 

 

 

3,346

 

Other noncurrent assets

 

 

—

 

 

 

1,192

 

 

 

1,192

 

Total assets held for sale (1)

 

$

15,860

 

 

$

12,249

 

 

$

28,109

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

244

 

 

$

—

 

 

$

244

 

Accrued liabilities

 

 

4,821

 

 

 

—

 

 

 

4,821

 

Deferred revenue

 

 

1,126

 

 

 

—

 

 

 

1,126

 

Operating lease liabilities, noncurrent

 

 

—

 

 

 

2,741

 

 

 

2,741

 

Other noncurrent liabilities

 

 

—

 

 

 

7,064

 

 

 

7,064

 

Total liabilities held for sale

 

$

6,191

 

 

$

9,805

 

 

$

15,996

 

 

 

 

 

 

 

 

 

 

 

Net assets held for sale

 

$

9,669

 

 

$

2,444

 

 

$

12,113

 

 

(1)
Total assets held for sale also included certain fully amortized finite-lived intangible assets with an original cost of $35.2 million.

Due to the estimated fair value less cost to sell exceeding the carrying amount of the assets and liabilities presented above, the Company did not recognize an impairment loss related to the assets held for sale in the year ended December 31, 2023.
Vewd  
Business Acquisition [Line Items]  
Schedule of Estimated Fair Value that Allocated to Assets and Liabilities The following table presents the allocation of the purchase price to the identifiable assets acquired and liabilities assumed based on the fair values at the acquisition date (fair value amounts in thousands):

 

 

Estimated
Useful
Life (years)

 

 

 

 

 

Estimated
Fair Value

 

Cash and cash equivalents

 

 

 

 

 

 

 

$

2,684

 

Accounts receivable

 

 

 

 

 

 

 

 

3,341

 

Unbilled contracts receivable

 

 

 

 

 

 

 

 

2,335

 

Other current assets

 

 

 

 

 

 

 

 

1,208

 

Property and equipment

 

 

 

 

 

 

 

 

443

 

Operating lease right-of-use assets

 

 

 

 

 

 

 

 

2,020

 

Identifiable intangible assets:

 

 

 

 

 

 

 

 

 

Technology

 

7

 

 

 

28,050

 

 

 

 

Customer relationships - large

 

7

 

 

 

4,900

 

 

 

 

Customer relationships - small

 

4

 

 

 

3,500

 

 

 

 

Non-compete agreements

 

2

 

 

 

870

 

 

 

 

Trade name

 

 

5

 

 

 

830

 

 

 

 

Total identifiable intangible assets

 

 

 

 

 

 

 

 

38,150

 

Goodwill

 

 

 

 

 

 

 

 

68,115

 

Other long-term assets

 

 

 

 

 

 

 

 

977

 

Accounts payable

 

 

 

 

 

 

 

 

(869

)

Accrued liabilities

 

 

 

 

 

 

 

 

(4,777

)

Deferred revenue

 

 

 

 

 

 

 

 

(920

)

Long-term deferred tax liabilities

 

 

 

 

 

 

 

 

(8,393

)

Noncurrent operating lease liabilities

 

 

 

 

 

 

 

 

(1,094

)

Other long-term liabilities

 

 

 

 

 

 

 

 

(307

)

Total purchase price

 

 

 

 

 

 

 

$

102,913

 
Schedule of Unaudited Pro Forma Financial Information The following table presents the pro forma operating results as if the acquired operations of Vewd had been included in the Company’s Consolidated Statements of Operations as of January 1, 2021 (unaudited, in thousands):

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Revenue

 

$

508,636

 

 

$

498,992

 

Net loss attributable to the Company

 

$

(769,483

)

 

$

(209,690

)