Business Combinations (Tables)

12 Months Ended

Dec. 31, 2022

Levelset

Business Acquisition [Line Items]

Summary of Total Purchase Consideration

The purchase consideration totaled $484.1 million, which consisted of the following (in thousands):

Cash consideration	$	426,076
Fair value of common stock		58,028
Total purchase consideration	$	484,104

Summary of Purchase Consideration Allocated to Assets and Liabilities

The purchase consideration was allocated to the following assets and liabilities (in thousands):

	Fair value			Useful life
Assets acquired
Cash and cash equivalents	$	10,951
Accounts receivable		1,250
Prepaid expenses and other current assets		5,289
Other non-current assets		5,740
Developed technology intangible asset		105,500		7 years
Customer relationships intangible asset		38,800		4 years
Goodwill		348,318
Total assets acquired	$	515,848
Liabilities assumed
Accounts payable	$	(1,037	)
Accrued expenses		(1,945	)
Deferred revenue, current		(5,426	)
Other current liabilities		(2,437	)
Other non-current liabilities		(1,639	)
Net deferred tax liabilities		(19,260	)
Total liabilities assumed	$	(31,744	)
Net assets acquired	$	484,104

Summary of Pro Forma Results

The unaudited pro forma results do not reflect any cost saving synergies from operating efficiencies or the effect of the incremental costs incurred from integrating these companies. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the acquisitions had occurred at the beginning of 2020, nor are they indicative of future results of operations (in thousands):

	Year Ended December 31,
	2021			2020
Revenue	$	532,690		$	415,757
Net Loss	$	(355,612	)	$	(134,133	)

LaborChart

Business Acquisition [Line Items]

Summary of Purchase Consideration Allocated to Assets and Liabilities

The purchase consideration was allocated to the following assets and liabilities (in thousands):

	Fair value			Useful life
Assets acquired
Cash and cash equivalents	$	2,149
Accounts receivable		730
Prepaid expenses and other current assets		737
Other non-current assets		417
Developed technology intangible asset		12,800		4 years
Customer relationships intangible asset		11,100		10 years
Goodwill		55,700
Total assets acquired	$	83,633
Liabilities assumed
Accrued expenses	$	(120	)
Deferred revenue, current		(1,704	)
Other current and non-current liabilities		(690	)
Net deferred tax liabilities		(4,891	)
Total liabilities assumed	$	(7,405	)
Net assets acquired	$	76,228

Esticom Inc

Business Acquisition [Line Items]

Summary of Total Purchase Consideration

The total purchase consideration is comprised of the following (in thousands):

Cash consideration	$	11,239
Fair value of common stock		3,885
Total purchase consideration	$	15,124

Summary of Purchase Consideration Allocated to Assets and Liabilities

The major classes of assets and liabilities to which the Company allocated the purchase price were as follows (in thousands):

	Fair value			Useful life
Assets acquired
Cash and cash equivalents	$	19
Developed technology intangible asset		6,500		5 years
Other acquired intangible assets		300		Less than 12 months
Goodwill		9,835
Total assets acquired	$	16,654
Liabilities assumed
Other current liabilities	$	(54	)
Deferred revenue		(100	)
Net deferred tax liabilities		(1,376	)
Total liabilities assumed	$	(1,530	)
Net assets acquired	$	15,124