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Acquisition (Tables)
12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions Purchase Price Consideration
The purchase consideration to acquire APA consisted of the following:
Cash consideration paid
166,135 
Earn-out
19,256 
Purchase consideration
$185,391 
Schedule of Business Acquisitions, by Acquisition
The following table summarizes the fair values of the assets acquired and liabilities assumed as of the Closing Date (in thousands):
Preliminary fair value of net assets acquired and liabilities assumed: Acquisition DateMeasurement AdjustmentRemeasured Acquisition Date
Cash and cash equivalents$1,219 $— $1,219 
Accounts receivable
29,043 81 29,124 
Inventories25,467 (331)25,136 
Prepaid expenses and other466 — 466 
Property, plant and equipment14,256 — 14,256 
Other intangible assets80,800 7,200 88,000 
Other assets27,050 194 27,244 
Total assets acquired$178,301 $7,144 $185,445 
Accounts payable12,540 — 12,540 
Deferred revenue22,121 208 22,329 
Other liabilities4,079 59 4,138 
Other long-term liabilities26,330 163 26,493 
Total liabilities assumed$65,070 $430 $65,500 
Preliminary fair value of net assets acquired113,231 6,714 119,945 
Preliminary allocation to goodwill$72,911 $(7,465)$65,446 
Schedule of Purchase Price Allocation
The preliminary purchase price allocation includes $88.0 million of acquired identifiable intangible assets as follows:
Estimated Fair Value
(in USD)
Estimated Weighted Average Useful Life in Years
(in thousands, except useful lives)
Developed technology$22,000 5
Computer software and other
13,000 5
Customer relationships39,500 
5-9
Backlog3,500 1
Trade name10,000 10
Total$88,000 
Schedule of Business Acquisition, Pro Forma Information The unaudited pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the APA Acquisition and is not necessarily indicative of the operating results that would have actually occurred had the APA Acquisition been consummated on January 1, 2024. These results are prepared in accordance with U.S. GAAP (in thousands):
Year Ended December 31,
20252024
Revenue
$1,363,762 $1,045,103 
Net loss
57,487 254,957 
Pro forma adjustments(1)
$17,790 $39,989 
(1) Pro forma adjustments represent re-casting of transaction costs and incremental expenses, net of estimated taxes, resulting from the APA Acquisition, including Deferred Consideration expense, intangible asset amortization, and the impacts of lease re-measurements and increases to the fair value of inventories and property, plant and equipment.