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Business Combination (Tables)

6 Months Ended

Jun. 30, 2022

Business Combinations [Abstract]

Summary of Fair Value of Total Consideration Effectively Transferred

The fair value of the total consideration effectively transferred is summarized in the following table (in thousands, except per-share amount):

Company share price (i)		$	4.21
Company common shares outstanding (ii)			8,716
Fair value of the Company's common shares outstanding			36,694
Fair value of the Company's warrants (iii)			301
Total fair value of the Company's share-based awards (iii)			782
Percent related to pre-combination service			80.76	%
Fair value of the Company's pre-combination service share-based awards (iii)			632
Consideration effectively transferred		$	37,627
(i) Represents the Company's share price as of December 16, 2021
(ii) Represents the Company's outstanding shares as of December 16, 2021
(iii) Represents the fair value of the Company's warrants outstanding and calculated as of December 16, 2021

Summary of Final Allocation of Purchase Price to Net Assets Acquired

 The following table summarizes the final allocation of the purchase price to the net assets acquired based on the respective fair value of the acquired assets and assumed liabilities of the accounting acquiree, which is the Company.

		December 31,
		2021
Assets:		(in thousands)
Cash, cash equivalents and investments		$	19,064
Other current assets			2,558
Other assets			833
Intangibles
Developed technology			5,726
Customer relationships			2,556
			8,282
Goodwill			9,946
Liabilities:
Current liabilities			3,056
		$	37,627

Summary of Unaudited Pro Forma Results of Operations

This summary of the unaudited pro forma results of operations is not necessarily indicative of what the Company’s results of operations would have been had Peraso Tech been acquired at the beginning of 2021, nor does it purport to represent results of operations for any future periods.

		Three Months Ended				Six Months Ended
(in thousands)		June 30, 2021				June 30, 2021
Revenue		$	1,865			$	4,304
Net loss		$	(6,634	)		$	(12,160	)

X

- 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 https://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 https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

No definition available.

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X

- 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 https://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
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-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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