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Acquisitions (Tables) - BCNMonetize
 6 Months Ended
Jun. 30, 2024
Business Acquisition [Line Items]  
Summary of Purchase Price Allocation

The following is a summary of the final purchase price allocation (in millions):

 

Cash

$

0.8

Accounts receivable

 

2.8

 

Other assets

 

0.7

Intangible assets subject to amortization

 

4.2

 

Goodwill

3.5

Current liabilities

(2.1

)

Deferred tax

 

(1.1

)
Summary of Intangible Assets Subject to Amortization Acquired

Intangible assets subject to amortization acquired includes:

 

Intangible Asset

Estimated

Fair Value

(in millions)

Weighted

average

life (in years)

Publisher relationships

$

2.2

3.0

Advertiser relationships

1.5

1.0

Trade name

0.3

1.0

Non-Compete agreements

0.2

1.5

Schedule of Unaudited Pro Forma Information

The following unaudited pro forma information has been prepared to give effect to the Company’s acquisition of BCNMonetize as if the acquisition had occurred on January 1, 2023. This pro forma information was adjusted to exclude acquisition fees and costs of $0.2 million for the six-month period ended June 30, 2023, which were expensed in connection with the acquisition. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for any future periods.

 

In thousands, except share and per share data

 

Three-Month Period

 

 

Six-Month Period

 

 

 

Ended June 30,

 

 

Ended June 30,

 

 

 

2023

 

 

2023

 

Pro Forma:

 

 

 

 

 

 

Total revenue

 

$

76,396

 

 

$

147,379

 

Net income (loss) attributable to common stockholders

 

$

(1,380

)

 

$

1,593

 

 

 

 

 

 

 

 

Basic and diluted earnings per share:

 

 

 

 

 

 

Net income (loss) per share, attributable to common stockholders, basic and diluted

 

$

(0.02

)

 

$

0.02

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic

 

 

87,787,772

 

 

 

87,706,282

 

Weighted average common shares outstanding, diluted

 

 

87,787,772

 

 

 

87,706,282