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BUSINESS COMBINATION (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2024 | Dec. 31, 2023
Business Combinations [Abstract] |  |
Summary of Assets Acquired and Liabilities Assumed in Connection with Acquisition | The assets acquired and liabilities assumed in connection with the CTG Acquisition were recorded at their fair values on the CTG Acquisition Date as follows (in thousands):
Assets |  |  |  |
Cash |  | $ | 2,674 |
Accounts receivable, net |  |  | 3,781 |
Inventories, net |  |  | 4,282 |
Prepaid expenses and other current assets |  |  | 189 |
Property, plant and equipment , net |  |  | 1,647 |
Operating lease ROU asset |  |  | 315 |
Intangible assets, net |  |  | 8,065 |
Goodwill |  |  | 2,618 |
Total assets acquired |  | $ | 23,571 |
Liabilities |  |  |  |
Accounts payable |  |  | 2,656 |
Accrued expenses and other current liabilities |  |  | (295 | )
Current portion of operating lease liabilities |  |  | 95 |
Operating lease liabilities, less current portion |  |  | 180 |
Total liabilities assumed |  | $ | 2,636 |
Total consideration transferred |  | $ | 20,935 |
Summary of Identified Intangible Assets, Estimated Useful Lives and Methodologies Used to Determine Fair Values | The following table sets forth the amounts allocated to the identified intangible assets, the estimated useful lives of those intangible assets as of the CTG Acquisition Date, and the methodologies used to determine the fair values of those intangible assets ($ in thousands):
|  | Fair value |  |  | Useful life (in years) |  |  | Fair value methodology
Intangible assets |  |  |  |  |  |  |  |  |  |
Trade names |  | $ | 819 |  |  |  | 15 |  |  | Relief from royalty method
Developed Technology |  |  | 3,269 |  |  |  | 20 |  |  | Relief from royalty method
Customer relationships |  |  | 3,977 |  |  |  | 20 |  |  | Multi-period excess earnings method of the income approach
Total intangible assets |  | $ | 8,065 |  |  |  |  |  |  |
Summary of Unaudited Supplemental Pro Forma Financial Information | The unaudited supplemental pro forma financial results below for the three months ended March 31, 2024 and 2023, combine the consolidated results of the Company and CTG, giving effect to the CTG Acquisition as if it had been completed on January 1, 2023. This unaudited supplemental pro forma financial information is presented for informational purposes only and is not indicative of future operations or results had the acquisition been completed as of January 1, 2023, or any other date.
|  | Three months ended March 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Pro forma revenue |  | $ | 40,333 |  |  | $ | 45,308 |
Pro forma net income |  | $ | 2,420 |  |  | $ | 6,287 |
Summary of Common Stock Outstanding Immediately after Merger |  | The following table presents the total DTIC Common Stock outstanding immediately after the closing of the Merger:
Exchange of ROC common stock not subject to possible redemption for DTIC Common Stock upon Merger |  |  | 3,403,500 |
Conversion of ROC Public Rights into shares of DTIC Common Stock |  |  | 2,070,000 |
Conversion of ROC Private Rights into shares of DTIC Common Stock |  |  | 79,600 |
Exchange of ROC common stock subject to possible redemption that was not redeemed for DTIC Common Stock |  |  | 158,621 |
Subtotal - Merger, net of redemptions |  |  | 5,711,721 |
Issuance of DTIC Common Stock in connection with PIPE Financing |  |  | 2,970,296 |
Exchange of DTIH common stock outstanding as of December 31, 2022 for DTIC Common Stock |  |  | 11,951,137 |
Exchange of DTIH redeemable convertible preferred stock outstanding as of December 31, 2022 for DTIC Common Stock |  |  | 6,719,641 |
Issuance of shares as stock-based compensation to former DTIH stockholders as part of transaction services agreement upon the Merger |  |  | 337,429 |
Issuance of DTIC Common Stock to former holders of DTIH redeemable convertible preferred stock in connection with Exchange Agreements |  |  | 2,042,181 |
Net exercise of stock options by DTIH stockholder |  |  | 36,163 |
Total - DTIC Common Stock outstanding as a result of Merger, PIPE Financing, DTIH for DTIC share exchanges, transaction services agreement, Exchange Agreements, and exercise of stock options |  |  | 29,768,568 |

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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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