Business Combinations (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following presents the final allocation of the purchase consideration to the assets acquired and liabilities assumed for TeraXion and ON Design Israel, and the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed for Symeo as of September 30, 2022:

	Symeo GmbH		TeraXion		ON Design Israel
Purchase price - cash consideration	$	10,000	$	74,050	$	6,107
Purchase price - cash consideration (Accrual)	9,674		—		7,500
Add: debt paid at closing	—		6,857		—
Less: cash acquired	(1,295)		(5,625)		(1,133)
Net cash paid	18,379		75,282		12,474
Purchase price - equity consideration
Common stock	—		65,192		—
Options	—		17,249		—
Total equity consideration	—		82,441		—
Earn out shares	8,204		—		—
Contingent consideration	—		—		4,000
Net consideration	$	26,583	$	157,723	$	16,474
Fair value of net assets and liabilities assumed:
Current assets other than cash	2,857		7,627		119
Property and equipment	1,039		4,992		1,424
Developed technology	6,631		17,305		—
In-progress research & development	2,170		—		10,100
Customer relationships	2,411		13,059		—
Backlog	603		16		—
Trade name	965		6,946		—
Other non-current assets	36		—		66
Current liabilities	(1,461)		(5,840)		(537)
Deferred revenue	—		(1,025)		—
Deferred tax liabilities, non-current	(2,935)		(10,030)		(2,400)
Long-term debt	—		(7,580)		—
Total fair value of net assets acquired	12,316		25,470		8,772
Goodwill	$	14,267	$	132,253	$	7,702

Schedule of Net Assets Acquired And Goodwill

As of September 30, 2022, the Company finalized the opening net assets acquired and goodwill as follows:

	Preliminary Valuation		Adjustments		Final Valuation
Property and equipment	$	6,009	$	(1,017)	$	4,992
Developed technology	43,594		(26,289)		17,305
In-progress research & development	10,304		(10,304)		—
Customer relationships	12,682		377		13,059
Backlog	2,378		(2,362)		16
Trade name	6,125		821		6,946
Deferred tax liabilities, non-current	(20,272)		10,242		(10,030)
Goodwill	103,721		28,532		132,253

As of September 30, 2022, the Company finalized the opening net assets acquired and goodwill as follows:

	Preliminary Valuation		Adjustment		Final Valuation
Property and equipment	$	1,315	$	109	$	1,424
Developed technology	5,077		(5,077)		—
In-progress research & development	1,562		8,538		10,100
Current liabilities	(754)		217		(537)
Deferred tax liabilities, non-current	(1,578)		(822)		(2,400)
Goodwill	10,667		(2,965)		7,702

Pro Forma Financial Information

The unaudited pro forma financial information shown below summarizes the combined results of operations for the Company and TeraXion as if the closing of the acquisition had occurred on January 1, 2021:

	Three months ended		Nine months ended
	September 30, 2021		September 30, 2021
Combined revenue	$	17,875	$	47,374
Combined net loss before income taxes	(108,776)		(86,638)