Business acquisition (Tables)

6 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of Preliminary Fair Value Amounts of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value amounts of the assets acquired and liabilities assumed as of the acquisition date, as well as the purchase consideration:

(in thousands)	December 1, 2021
Assets acquired
Cash and cash equivalents	$	1,306
Accounts receivable	2,309
Other current assets and prepaid expenses	1,654
Property, plant and equipment	1,078
Other non-current assets	2,970
Intangible assets	46,500
Liabilities assumed
Current liabilities	3,549
Non-current liabilities	846
Deferred tax liability	10,545
Fair value of assets acquired and liabilities assumed	$	40,877
Goodwill	61,768
Total purchase price	$	102,645
Consideration transferred
Cash	$	9,467
Company common stock	72,514
Contingent consideration	8,500
Holdback liabilities	12,838
Net working capital adjustment	(674)
Fair value of purchase consideration	$	102,645

Summary of Preliminary Estimate of Intangible Assets

The following table summarizes the preliminary estimate of the intangible assets as of the acquisition date:

(in thousands except for years)	Estimated Weighted Average Useful Lives in Years	Estimated Fair Value
Developed technology	14	$	30,900
Customer relationships	10	14,700
Trade name	3	900
Estimated fair value of acquired intangible assets		$	46,500

Schedule of Reconciliation of Contingent Consideration

The following table provides a reconciliation of contingent consideration and holdbacks balances from acquisition date to March 31, 2022:

(in thousands)	Contingent consideration		Holdbacks		Total
Balance at December 1, 2021 – acquisition date	$	8,500	$	12,164	$	20,664
Change in fair value during the period	(2,800)		(5,266)		(8,066)
Balance at March 31, 2022	$	5,700	$	6,898	$	12,598

Summary of Pro Forma Information

	Three months ended March 31,				Six months ended March 31,
(in thousands)	2022		2021		2022		2021
Revenues	$	48,127	$	34,211	$	92,591	$	65,113
Net loss attributable to common stockholders	$	(60,668)	$	(36,129)	$	(105,097)	$	(67,608)