Business Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Allocation of Aggregate Purchase Price

The following table summarizes the preliminary allocation of the purchase consideration for all 2022 acquisitions as of September 30, 2022 (in thousands):

Assets and Liabilities	Valuation
Accounts receivable	$	7,433
Prepaid expenses and other current assets		4,915
Property and equipment		369
Operating lease right-of-use assets, noncurrent		546
Trade names		12,838
Customer relationship		20,540
Goodwill		93,827
Other intangibles		18,165
Other long-term assets		11
Accounts payable and accrued expenses		(4,656)
Deferred revenue		(21,332)
Deferred tax liability		(10,436)
Other long-term liabilities		(516)
Total	$	121,704

The following table summarizes the allocation of the purchase consideration for all 2021 acquisitions as of September 30, 2021, including individually material acquisitions noted separately (in thousands):

Assets and Liabilities	Valuation
Accounts receivable	$	4,577
Prepaid expenses and other current assets		2,585
Property and equipment		1,838
Operating lease right-of-use assets, noncurrent		5,888
Trade names		11,118
Customer relationship		13,396
Goodwill		84,019
Other intangibles		34,378
Other long-term assets		62
Deferred tax asset		231
Accounts payables and accrued expenses		(2,891)
Deferred revenue		(7,806)
Operating lease liabilities, current		(7,191)
Other current liabilities		(14)
Deferred tax liability		(4,122)
Other long-term liabilities		(1,726)
Total	$	134,342

The following table summarizes the allocation of the purchase consideration for the SEOmoz acquisition (in thousands):

Assets and Liabilities	Valuation
Accounts receivable	$	3,278
Prepaid expenses and other current assets		2,512
Property and equipment		1,838
Operating lease right of use asset		5,888
Trade names		7,200
Customer relationships		5,000
Goodwill		41,192
Other intangibles		21,607
Other long-term assets		62
Accounts payables and accrued expenses		(2,421)
Other current liabilities		(14)
Deferred revenue		(7,048)
Operating lease liabilities, current		(7,191)
Deferred tax liability		(4,122)
Other long-term liabilities		(785)
Total	$	66,996

Pro Forma Financial Information

The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its 2022 acquisitions as if each acquisition had occurred on January 1, 2021 (in thousands, except per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Revenues	$	342,173	$	366,258	$	1,010,600	$	1,041,436
Net income (loss) from continuing operations	$	18,120	$	4,925	$	(3,801)	$	23,369
Income (loss) per common share from continuing operations - Basic	$	0.39	$	0.11	$	(0.08)	$	0.52
Income (loss) per common share from continuing operations - Diluted	$	0.39	$	0.10	$	(0.08)	$	0.49

The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its acquisitions during the three months and nine months ended September 30, 2021 as if each acquisition had occurred on January 1, 2020 (in thousands, except per share amounts):

	Three Months Ended September 30, 2021		Nine months ended September 30, 2021
	(unaudited)		(unaudited)
Revenues	$	374,202	$	1,045,184
Net income from continuing operations	$	6,886	$	25,490
Income per common share from continuing operations - Basic	$	0.15	$	0.56
Income per common share from continuing operations - Diluted	$	0.14	$	0.54

The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and SEOmoz as if the acquisition had occurred on January 1, 2020 (in thousands, except per share amounts):

	Three Months Ended September 30, 2021		Nine months ended September 30, 2021
	(unaudited)		(unaudited)
Revenues	$	367,414	$	1,028,545
Net income from continuing operations	$	6,610	$	24,030
Income per common share from continuing operations - Basic	$	0.14	$	0.53
Income per common share from continuing operations - Diluted	$	0.14	$	0.51