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Business Combination (Tables)
12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Summary of Preliminary Purchase Consideration Transferred

The following table summarizes the preliminary purchase consideration transferred in connection with the acquisition of Additive and consists of the following:

 

Consideration Paid

 

 

 

Cash consideration

 

$

15,000

 

Contingent consideration

 

 

2,870

 

Total consideration

 

$

17,870

 

 

Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the Closing Date:

 

 

 

Preliminary allocation

 

 

Measurement
period adjustments

 

 

Adjusted allocation

 

Assets acquired:

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

761

 

 

$

 

 

$

761

 

Inventory

 

 

113

 

 

 

 

 

 

113

 

Intangible assets

 

 

11,560

 

 

 

 

 

 

11,560

 

Goodwill

 

 

7,872

 

 

 

(1,543

)

 

 

6,329

 

Total Assets Acquired

 

$

20,306

 

 

$

(1,543

)

 

$

18,763

 

 

 

 

 

 

 

 

 

 

 

Liabilities assumed:

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

796

 

 

$

 

 

$

796

 

Accrued expenses

 

 

600

 

 

 

(503

)

 

 

97

 

Total Liabilities Assumed

 

$

1,396

 

 

$

(503

)

 

$

893

 

Net assets acquired

 

$

18,910

 

 

$

(1,040

)

 

$

17,870

 

 

Useful Life Determination of Assets The useful life determination was made by management in line with the Company’s policy on assets. Both determinations are outlined in the table below:

 

 

 

Fair Value

 

 

Estimated Useful Life (in years)

Noncompete arrangements

 

$

30

 

 

3

Customer relationships

 

 

240

 

 

3

Developed technology

 

 

11,290

 

 

12

 

 

$

11,560