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Acquisition
6 Months Ended
Jun. 30, 2022
Business Combinations [Abstract]  
Acquisition

9. Acquisition

 

On June 25, 2021, the Company acquired 100% of the equity of Myx pursuant to the Business Combination Agreement. The Company recognized the acquired assets and assumed liabilities of Myx based on estimates of their acquisition date fair values. There were no adjustments to the purchase price allocations during the three and six months ended June 30, 2022.

 

The following unaudited pro forma financial information presents the combined results of operations of the Company and Myx as if the companies had been combined as of January 1, 2021. The unaudited pro forma financial information includes the accounting effects of the business combination, including amortization of intangible assets. The unaudited pro forma financial information is presented for information purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of the period presented, nor should it be taken as indication of the Company’s future consolidated results of operations.

 

(in thousands)

 

Three Months Ended

 

Six Months Ended

 

 

June 30, 2021

 

June 30, 2021

Pro forma combined:

 

 

 

 

Revenue

 

$237,286

 

$480,543

Net loss

 

(25,362)

 

(67,747)