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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2020

Business Acquisition [Line Items]

Summary of Consideration for Acquisition

A summary of the preliminary consideration for the acquisition is as follows (in thousands):

Cash (1)	$	8,408
Fair value of equity consideration		3,803
Future consideration		1,016
Total	$	13,227

(1) Included working capital adjustments finalized subsequent to the acquisition in December 2019, resulting in total consideration of approximately $13.2 million and an adjustment to goodwill in the amount of approximately $88,000 during the nine months ended September 30, 2020.

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following summarizes the preliminary estimated fair value of the assets acquired and the liabilities assumed at the acquisition date (in thousands):

Cash and cash equivalents	$	480
Accounts receivable		141
Prepaid expenses and other current assets		42
Property and equipment		25
Identifiable intangible assets		5,052
Liabilities assumed		(171	)
Deferred tax liabilities		(1,184	)
Net assets acquired		4,385
Goodwill(1)		8,842
Total(1)	$	13,227

(1) Included working capital adjustments finalized subsequent to the acquisition in December 2019, resulting in total consideration of approximately $13.2 million and an adjustment to goodwill in the amount of approximately $88,000 during the nine months ended September 30, 2020.

Summary of Estimated Fair Value of Acquisition-Related Liabilities

The following summarizes the changes in the estimated fair value of acquisition-related liabilities (in thousands):

Acquisition-related liabilities (Level 3):
Balance at December 31, 2018:		$	—
Contingent consideration - Telmetrics acquisition			1,509
Contingent consideration - Sonar acquisition			1,016
Change in fair value (1)			(941	)
Balance at December 31, 2019 (2):		$	1,584
Change in fair value (1)			(716	)
Balance at March 31, 2020 (2):		$	868
Change in fair value (1)			(591	)
Balance at June 30, 2020 (2):		$	277
Change in fair value (1)			(203	)
Balance at September 30, 2020 (2):		$	74

(1) The Company recognized a net change in fair value of the contingent consideration of approximately $941,000, $203,000 and $1.5 million for the year ended December 31, 2019 and the three and nine months ended September 30, 2020, respectively. The change is recorded on the income statement in acquisition-related costs (benefit). The net change in fair value was primarily due to a change in the assumptions used in the original estimate of the liability.

(2) There were no transfers between levels during the periods presented.

Summary of Unaudited Pro Forma Financial Information

		(Unaudited)
		(in thousands)
		Nine months ended				Three months ended
		September 30				September 30
		2019				2019
Revenue		$	79,264			$	25,394
Net loss applicable to common stockholders			(4,454	)			(1,500	)

Telmetrics Acquisition

Business Acquisition [Line Items]

Summary of Consideration for Acquisition

A summary of the consideration for the acquisition is as follows (in thousands):

Cash(1)	$	10,161
Future consideration		1,600
Total	$	11,761

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following summarizes the estimated fair value of the assets acquired and the liabilities assumed at the acquisition date (in thousands):

Cash and cash equivalents	$	359
Accounts receivable		1,274
Prepaid expenses and other current assets		586
Property and equipment		281
Identifiable intangible assets		6,351
Liabilities assumed		(885	)
Deferred tax liabilities		(1,677	)
Net assets acquired		6,289
Goodwill (1)		5,472
Total (1)	$	11,761

(1)  Included working capital adjustments finalized subsequent to the acquisition in November 2018, resulting in total consideration of approximately $11.8 million and an adjustment to goodwill in the amount of $61,000 during the year ended December 31, 2019.

Callcap Acquisition

Business Acquisition [Line Items]

Summary of Consideration for Acquisition

A summary of the consideration for the acquisition is as follows (in thousands):

Cash	$	24,993
Fair value of equity consideration		10,017
Total	$	35,010

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following summarizes the estimated fair value of the assets acquired and the liabilities assumed at the acquisition date (in thousands):

Cash and cash equivalents	$	490
Accounts receivable		246
Prepaid expenses and other current assets		504
Property and equipment		93
Identifiable intangible assets		15,128
Liabilities assumed		(482	)
Net assets acquired		15,979
Goodwill		19,031
Total	$	35,010

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