Acquisitions (Tables)

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Summary of Consideration Paid for Acquisitions

The following table summarizes the consideration paid for the Circle acquisition in 2020 (unaudited, in thousands):

Fair value of assets acquired	$	14,966
Fair value of liabilities assumed		1,466
Total purchase price	$	13,500
Components of purchase price:
Cash	$	13,500
Total purchase price	$	13,500

Summary of Allocation of Purchase Price

The Company’s allocation of the purchase price is summarized as follows (unaudited, in thousands):

Assets:
Inventory, net	$	14
Intangible assets		10,483
Goodwill		4,469
Total assets	$	14,966
Liabilities:
Deferred revenue	$	1,290
Amounts due to seller		176
Total liabilities		1,466
Total purchase price	$	13,500

Summary of Unaudited Proforma Results of Operation

Unaudited pro forma results of operations for the three months ended March 31, 2021 and 2020 are included below as if the Circle acquisition occurred on January 1, 2019. This summary of the unaudited pro forma results of operations is not necessarily indicative of what the Company’s results of operations would have been had the operator business of Circle been acquired at the beginning of 2019, nor does it purport to represent results of operations for any future periods.

	For the Three Months Ended March 31,
	2021			2020
	(unaudited, in thousands, except per share amounts)
Revenues	$	11,381		$	13,789
Net income (loss)		(3,225	)		2,105
Earnings (loss) per share:
Basic	$	(0.07	)	$	0.05
Diluted	$	(0.07	)	$	0.05