Business Combinations (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Summary of Provisional Estimated Fair Values of Assets Acquired and Liabilities Assumed

The table below sets forth the consideration paid, the provisional fair value of the assets acquired and liabilities assumed, and the estimated bargain purchase gain for the acquisition (in thousands):

Consideration Paid
Cash	$	8,146
Contingent consideration	81
Total Consideration	$	8,227
Assets acquired and liabilities assumed
Cash and cash equivalents	$	820
Accounts receivable	2,499
Inventories	47,109
Prepaid expenses and other current assets	463
Property, plant and equipment, net	726
Intangible assets:
Trade name	480
Developed technology	2,960
In-process research and development	710
Customer relationships	1,070
Bargain purchase gain	(41,544)
Right-of-use assets from operating leases	961
Total assets	$	16,254
Accrued liabilities	2,190
Due to seller	3,319
Deferred revenue	26
Lease liability	952
Other non-current liabilities	1,540
Total liabilities	$	8,027
Total net assets	$	8,227

Business Acquisition, Pro Forma Information

The following unaudited pro forma financial information presents the combined results of operations for the Company and gives effect to the NetComm acquisition as if it had occurred on January 1, 2023. The pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the results of operations that would have been realized if the NetComm acquisition had been completed on January 1, 2023, nor does it purport to project the results of operations of the combined company in future periods. The pro forma financial information does not give effect to any anticipated integration costs related to the acquired company.

	Combined Pro Forma Results (Unaudited)
(in thousands)	Nine months ended September 30, 2024		Twelve months ended December 31, 2023
Revenue	$	114,512	$	213,434
Net loss	$	(24,314)	$	(120,262)