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Business Combination (Tables)
9 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the fair values of assets acquired and liabilities assumed at the date of the acquisition (in thousands):

Consideration:

 

 

 

Cash (net of cash acquired)

 

$

7,826

 

 

 

 

 

Assets acquired and liabilities assumed:

 

 

 

Current assets (excluding cash)

 

$

1,232

 

Intangible assets

 

 

9,380

 

Assumed current liabilities

 

 

(3,604

)

Net assets acquired

 

 

7,008

 

Goodwill

 

 

818

 

Net assets acquired

 

$

7,826

 

Schedule of Fair Value of Identifiable Intangible Assets Acquired

The fair value of the identifiable intangible assets acquired include the following (in thousands):

 

Fair Value

 

 

Estimated useful life

Customer relationships - car renters

 

$

6,720

 

 

1.3

Customer relationships - car owners

 

 

2,090

 

 

2.5

Developed technology

 

 

490

 

 

0.5

Tradename

 

 

80

 

 

0.5

Summary of Pro Forma Financial Information

Pro Forma Financial Information (Unaudited)

 

The following unaudited pro forma financial information summarizes the results of operations for the Company as though the Business Combination had occurred on January 1, 2022. The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of results of operations that would have been achieved had the acquisition taken place on the date indicated, or the future consolidated results of operations of the Company.

 

 

Nine months ended September 30, 2022

 

Total revenue

 

$

75,355

 

Net loss

 

$

(115,678

)