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ACQUISITIONS (Tables) | 3 Months Ended
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Mar. 31, 2025
ACQUISITIONS |
Summary of estimated fair value tangible and intangible assets acquired and liabilities assumed on acquisition | ​
​ | ​ | ​ | ​
(in thousands) |  | Balance at September 27, 2024
Assets purchased: |  | ​ |
Cash | ​ | $ | 284
Accounts receivable | ​ |  | 364
Other assets | ​ |  | 15
Customer relationships (1) | ​ |  | 5,100
Goodwill (2) | ​ |  | 2,667
Total assets purchased | ​ |  | 8,430
​ | ​ | ​ | ​
Liabilities assumed: | ​ |  |
Accounts payable and accrued liabilities | ​ |  | 360
Deferred revenue | ​ |  | 1,065
Total liabilities assumed | ​ |  | 1,425
​ | ​ | ​ | ​
Net assets acquired | ​ |  | 7,005
​ | ​ | ​ | ​
Consideration: | ​ |  |
Cash paid | ​ |  | 3,407
Note payable (3) | ​ | ​ | 2,348
Contingent consideration liability (4) | ​ |  | 1,250
Total consideration | ​ | $ | 7,005
| (1) | Represents an acquired intangible asset that will be amortized on a straight-line basis over its estimated useful life of 8 years.
| (2) | Goodwill represents the excess of purchase price over the estimated fair value of net tangible and intangible assets acquired. The amount of goodwill expected to be deductible for tax purposes is $2,667,000. Goodwill primarily relates to the expected synergies from combining operations of the Company and ADA Site Compliance and the value of the acquired workforce.
| (3) | Represents the fair value of the Note Payable in the aggregate principal amount of $2,400,000.
| (4) | The fair value of the contingent consideration liability under the earn-out was determined using the Monte-Carlo simulation. The key assumptions used in the Monte-Carlo simulation were as follows: ARR and NRR metrics for the earn-out period, NRR discount rate of 7.5%, ARR discount rate of 6.5%, expected NRR volatility of 12.5%, expected ARR volatility of 7.5%, risk-free rate of 3.9%, buyer specific counterparty credit risk of 14.25%, and discount period of 1.62 years.

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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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