v3.25.2
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 Preliminary Fair Value of Consideration Transferred
The preliminary fair value of consideration transferred is as follows (in thousands):

Cash paid at close$50,076 
Net working capital adjustment345 
Equity consideration20,048 
Deferred cash consideration13,058 
Total consideration transferred$83,527 
Schedule of Purchase Consideration of Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed (in thousands):

   Cash and cash equivalents$1,953 
   Accounts receivable276 
   Prepaid expenses and other current assets257 
   Operating lease right-of-use assets3,884 
   Other assets80 
   Intangible assets17,300 
   Deferred tax assets(1)
1,891 
   Goodwill76,251 
       Total assets acquired$101,892 
   Accounts payable$535 
   Accrued expenses and other current liabilities4,744 
   Operating lease liabilities, current and non-current3,504 
   Deferred revenue9,582 
       Net assets acquired$83,527 
(1) The deferred tax assets above represent measurement period adjustments for the release of the valuation allowance related to Formation Nation’s net operating losses.
Schedule of Preliminary Valuation of Acquired Intangible Assets and Estimated Useful Lives
The following table summarizes the preliminary valuation of acquired intangible assets and estimated useful lives as of the acquisition date (in thousands, except years):

Fair ValueEstimated remaining useful life
Customer relationships$11,200 5
Developed technology3,400 4
Trade names2,500 5
In-process research & development200  N/A
Total identifiable intangible assets$17,300