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Acquisition (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Acquisition [Line Items] |
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 (1): |  | $ | 1,509 |
Contingent consideration - Sonar acquisition (2) |  |  | 1,016 |
Change in fair value (3) |  |  | (941 | )
Balance at December 31, 2019 |  | $ | 1,584 |
Change in fair value (3) |  |  | (1,584 | )
Total acquisition-related liabilities as of December 31, 2020 (4): |  | $ | — |
(1) The balance at December 31, 2018 related to contingent consideration specific to the Telmetrics acquisition in 2018. |
(2) In connection with the Sonar acquisition, the Company recognized contingent consideration during the year ended December 31, 2019 of approximately $1.0 million in fair value. As of December 31, 2019, the amount recognized for the contingent consideration arrangement, the range of outcomes, and the assumptions used to develop the estimate had not changed. |
(3) During the year ended December 31, 2019 and 2020, the Company recognized a net change in fair value of the contingent consideration of approximately $941,000 and $1.6 million, and 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. |
(4) There were not transfers between levels during the periods presented. |
Sonar Acquisition |
Business Acquisition [Line Items] |
Summary of Consideration for Acquisition | A summary of the consideration for the acquisition is as follows (in thousands):
Cash |  | $ | 8,496 |
Fair value of equity consideration |  |  | 3,803 |
Future consideration |  |  | 1,016 |
Total |  | $ | 13,315 |
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 |  | $ | 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 |  |  | 8,930 |
Total |  | $ | 13,315 |
Summary of Unaudited Pro Forma Financial Information | The amount of Sonar revenue and the amount of net loss included in the Company’s Consolidated Statements of Operations from the acquisition date for the year ended December 31, 2019 was not significant.
|  | (Unaudited) |
|  | (in thousands) |
|  | Year ended December 31, 2019 |
Revenue |  | $ | 56,704 |
Net loss applicable to common stockholders |  |  | (4,838 | )

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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