Business Combination (Tables) - Ipanema

9 Months Ended

Mar. 31, 2022

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 March 31, 2022
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			(1,231	)	a		610
Property and equipment		46							46
Other assets		21							21
Accounts payable		(1,220	)		244		a		(976	)
Accrued compensation and benefits		(2,304	)		467		a		(1,837	)
Accrued warranty		(41	)						(41	)
Other accrued liabilities		(71	)		(51	)	a		(122	)
Deferred revenue		(2,758	)		(7,376	)	a,b		(10,134	)
Deferred taxes		-			(4,320	)	c		(4,320	)
Other liabilities		(723	)						(723	)
Net tangible liabilities		(2,068	)		(12,336	)			(14,404	)
Identifiable intangible assets		16,300			—				16,300
Goodwill		56,649			12,336		a,b,c		68,985
Total intangible assets acquired		72,949			12,336				85,285
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, and c) establishment of deferred tax liability.

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				Nine Months Ended
	March 31, 2022		March 31, 2021		March 31, 2022		March 31, 2021
Net revenues	$	285,508	$	259,073	$	837,251	$	747,901
Net income (loss)	$	15,657	$	750	$	47,201	$	(16,127	)
Net income (loss) per share - basic	$	0.12	$	0.01	$	0.36	$	(0.13	)
Net income (loss) per share - diluted	$	0.12	$	0.01	$	0.35	$	(0.13	)
Shares used in per share calculation - basic		129,913		124,788		129,321		123,252
Shares used in per share calculation - diluted		133,415		129,988		133,779		123,252