BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2023

The purchase consideration totaled $484.1 million, which consisted of the following (in thousands):


Cash consideration	$	426,076
Fair value of common stock	58,028
Total purchase consideration	$	484,104

Summary of Purchase Consideration Allocated to Assets and Liabilities

The purchase consideration was allocated to the following assets and liabilities (in thousands):


	Fair value		Useful life
Assets acquired
Cash and cash equivalents	$	10,951
Accounts receivable	1,250
Prepaid expenses and other current assets	5,289
Other non-current assets	5,740
Developed technology intangible asset	105,500		7 years
Customer relationships intangible asset	38,800		4 years
Goodwill	348,318
Total assets acquired	$	515,848
Liabilities assumed
Accounts payable	$	(1,037)
Accrued expenses	(1,945)
Deferred revenue, current	(5,426)
Other current liabilities	(2,437)
Other non-current liabilities	(1,639)
Net deferred tax liabilities	(19,260)
Total liabilities assumed	$	(31,744)
Net assets acquired	$	484,104

The purchase consideration was allocated to the following assets and liabilities (in thousands):


	Fair value		Useful life
Assets acquired
Cash and cash equivalents	$	2,149
Accounts receivable	730
Prepaid expenses and other current assets	737
Other non-current assets	417
Developed technology intangible asset	12,800		4 years
Customer relationships intangible asset	11,100		10 years
Goodwill	55,700
Total assets acquired	$	83,633
Liabilities assumed
Accrued expenses	$	(120)
Deferred revenue, current	(1,704)
Other current and non-current liabilities	(690)
Net deferred tax liabilities	(4,891)
Total liabilities assumed	$	(7,405)
Net assets acquired	$	76,228

Summary of Pro Forma Results

The unaudited pro forma results do not reflect any cost saving synergies from operating efficiencies or the effect of the incremental costs incurred from integrating these companies. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the acquisitions had occurred at the beginning of 2020, nor are they indicative of future results of operations (in thousands):


	Year Ended December 31,
	2021
Revenue	$	532,690
Net Loss	$	(355,612)