Business Combination (Tables) - Ipanema

6 Months Ended

Dec. 31, 2021

Summary of Allocation of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed

The preliminary purchase price allocation is set forth in the table below and reflects estimated fair values (in thousands):

	Preliminary Allocation as of September 14, 2021			Adjustments				Allocation as of December 31, 2021
Cash and cash equivalents	$	1,364		$	—			$	1,364
Accounts receivable, net		1,440			(6	)	a		1,434
Inventories		337			(63	)	a		274
Prepaid expenses and other current assets		1,841			(1,082	)	a		759
Property and equipment		46			—				46
Other assets		21			—				21
Accounts payable		(1,220	)		244		a		(976	)
Accrued compensation and benefits		(2,304	)		638		a		(1,666	)
Accrued warranty		(41	)		—				(41	)
Other accrued liabilities		(71	)		(51	)	b		(122	)
Deferred revenue		(2,758	)		(7,118	)	b		(9,876	)
Other liabilities		(723	)						(723	)
Net tangible liabilities		(2,068	)		(7,438	)			(9,506	)
Identifiable intangible assets		16,300			—				16,300
Goodwill		56,649			7,438		a,b		64,087
Total intangible assets acquired		72,949			7,438				80,387
Total net assets acquired	$	70,881		$	—			$	70,881

Schedule of Identifiable Intangible Assets Acquired as Part of Acquisition

The changes made during the period in the table above include: a) measurement period adjustments attributable to the Company’s review of the additional information being obtained on preacquisition assets and liabilities, b) the increase in deferred revenue (and the corresponding increase to Goodwill by the same amount) is the result of the adoption of ASU 2021-08 in the period ended December 31, 2021.

The following table presents details of the identifiable intangible assets acquired as part of the acquisition (in thousands):

Intangible Assets	Weighted Average Estimated Useful Life (in years)		Amount
Developed technologies		6	$	14,500
Customer relationships		4		1,800
Total identifiable intangible assets			$	16,300

Summary of Unaudited Pro Forma Financial Information

The following table summarizes the unaudited pro forma financial information (in thousands, except per share amounts):

	Three months ended					Six Months Ended
	December 31, 2021		December 31, 2020			December 31, 2021		December 31, 2020
Net revenues	$	280,438	$	248,474		$	551,743	$	488,828
Net income (loss)	$	15,562	$	(5,439	)	$	29,631	$	(16,877	)
Net income (loss) per share - basic	$	0.12	$	(0.04	)	$	0.23	$	(0.14	)
Net income (loss) per share - diluted	$	0.12	$	(0.04	)	$	0.22	$	(0.14	)
Shares used in per share calculation - basic		129,403		123,264			128,863		122,485
Shares used in per share calculation - diluted		133,621		123,264			133,423		122,485