Acquisition (Tables)

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following summarizes the preliminary allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed, as of the Closing Date. The fair value of the Class A Common

Stock acquired through this step acquisition is included in the totals presented below:

	April 1, 2025
Total Consideration:
Cash paid	$	148,256,998
Less: cash acquired	(9,077,136)
Total cash paid, net	139,179,862
Fair value of previously held investment in VOXX	48,478,560
Total transaction consideration, net	$	187,658,422
Preliminary Allocation:
Assets acquired
Accounts receivable	$	56,719,726
Inventory	96,718,000
Prepaid expenses and other current assets	20,294,973
Income tax recoverable	5,243,038
Property, plant, and equipment	44,977,000
Equity investment	19,000,000
Deferred tax asset	32,537,099
Operating lease, right of use assets	5,404,163
Other assets	3,445,075
Total assets acquired, excluding cash	284,339,074
Liabilities assumed:
Accounts payable	31,347,556
Accrued expenses and other current liabilities	38,740,969
Accrued sales incentives	13,031,777
Income taxes payable	684,033
Debt	3,909,290
Other tax liabilities	791,593
Operating lease liabilities	3,435,604
Other liabilities	1,260,830
Total liabilities assumed	93,201,652
Redeemable and non-redeemable non-controlling interests in consolidated subsidiaries	3,479,000
Net assets acquired, excluding cash	$	187,658,422

Schedule of Redeemable Noncontrolling Interest

The following table provides the rollforward of the redeemable non-controlling interest for the six months ended June 30, 2025:

	Redeemable Non-controlling Interest
Balance at January 1, 2025	$	—
Acquisition of redeemable non-controlling interest at fair value on April 1, 2025	2,823,000
Net loss	(332,739)
Balance at June 30, 2025	2,490,261