Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the consideration transferred and the estimated fair values of the major classes of assets acquired and liabilities assumed as of the acquisition date. The recorded amounts for assets acquired and liabilities assumed are provisional and subject to change during the measurement period for certain items including the valuation of separately identified intangibles

(Dollars in thousands)	January 31, 2023
Fair value of consideration transferred:
Common shares	$	28,617
Preferred shares	4,825
SAFE note	581
Secured convertible note	5,165
Contingent consideration	73,627
Purchase price	$	112,815
Allocated to:
Current assets	1,757
Property and equipment, net	2,315
Operating lease right of use assets	5,064
Intangible assets – development technology	104,200
Intangible assets – trademark and tradename	11,410
Goodwill	13,020
Other assets	—
Current liabilities	(16,940)
Deferred tax liability	(4,227)
Other liabilities	(3,784)
Fair value of assets acquired, less liabilities assumed	$	112,815

(Dollars in thousands)	March 14, 2022
Cash paid at closing, including working capital estimates	$	58,140
Fair value of previously held interest	22,183
Fair value of non-controlling interest	24,778
Purchase price	$	105,101
Allocated to:
Current assets	$	19,708
Property and equipment, net	1,927
Intangible assets –Customer relationships	14,226
Intangible assets – Development technology	18,603
Intangible assets – Trademark and trade name	14,496
Goodwill	60,394
Other assets	1,024
Current liabilities	(16,894)
Other liabilities	(8,383)
Fair value of assets acquired, less liabilities assumed	$	105,101

Schedule of Useful Lives of Acquired Intangible Assets

The useful lives of the intangible assets acquired is as follows:

	January 31, 2023
Intangible assets – development technology	20
Intangible assets – trademark and tradename	20
Weighted average	20

The useful lives of the intangible assets acquired is as follows:

	March 14, 2022
Intangible assets – customer relationships	13.0
Intangible assets – development technology	8.0
Intangible assets – trademark and tradename	25.0
Weighted average	14.7

Schedule of Unaudited Pro Forma Financial Information

The unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions occurred on January 1, 2022.

	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
(Amounts in thousands, except per share and share data)
Total revenue	$	665	$	8,242	$	11,644	$	19,004
Net loss attributable to Ideanomics, Inc. common shareholders	(63,007)		(57,411)		(166,369)		(134,115)

Schedule of Estimated Amortization Expense Related to Intangible Assets

The estimated amortization expense related to these intangible assets for each of the years subsequent to September 30, 2023, is as follows (amounts in thousands):

2023 remaining	$	963
2024	3,854
2025	3,854
2026	3,854
2027	3,854
Thereafter	22,982
Total	$	39,361

The following table summarizes the expected amortization expense for the following years (in thousands):

	Amortization to be recognized
2023 (excluding the nine months ended September 30, 2023)	$	1,013
2024	4,053
2025	4,044
2026	3,913
2027	3,876
2028 and thereafter	23,056
Total	$	39,955