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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The allocation of the purchase price is based on the fair value of assets acquired and liabilities assumed as of the applicable acquisition date. The following table summarizes the consideration paid and the amounts recognized for the assets acquired and liabilities assumed:
Preliminary Purchase Price AllocationFinal Purchase Price Allocation
(in thousands)March 31,
2023
Purchase Price AdjustmentsDecember 31,
2023
Consideration
Cash$11,935 $— $11,935 
Other current assets
Accounts receivable4,279 (3)4,276 
Other current assets805 447 1,252 
Property and equipment177 (1)176 
Intangible assets32,141 (1,268)30,873 
Other long-term assets— 
Total assets acquired$49,343 $(825)$48,518 
Accounts payable and accrued expenses1,156 94 1,250 
Other current liabilities1,291 (72)1,219 
Deferred tax liability8,388 (1,163)7,225 
Other liabilities788 790 
Total liabilities assumed$10,837 $(353)$10,484 
Total identifiable net assets38,506 (472)38,034 
Goodwill27,352 766 28,118 
Total consideration$65,858 $294 $66,152 
The following table summarizes the consideration paid and the amounts recognized for the assets acquired and liabilities assumed:
Preliminary Purchase Price AllocationFinal Purchase
Price Allocation
(in thousands)November 30,
2021
Purchase Price AdjustmentsDecember 31,
2022
Consideration
Cash$— $— $— 
Other current assets— 
Accounts receivable8,861 — 8,861 
Prepaid expenses394 — 394 
Property and equipment1,290 — 1,290 
Intangible assets59,161 — 59,161 
Total assets acquired$69,706 $— $69,706 
Accounts payable and accrued expenses5,614 — 5,614 
Other current liabilities1,182 — 1,182 
Deferred tax liability16,566 (215)16,351 
Other liabilities298 — 298 
Total liabilities assumed$23,660 $(215)$23,445 
Total identifiable net assets46,046 215 46,261 
Goodwill21,721 (515)21,206 
Total consideration$67,767 $(300)$67,467 
Schedule of Pro Forma Revenue
The following unaudited pro forma results for the year ended December 31, 2021 shows the effect on the Company’s revenues as if the acquisition of EBI had occurred on January 1, 2021. The pro forma results presented are the result of combining the revenues of the Company with the revenues of EBI. Pro forma net operating results are not presented as they were determined to not be material to the total net operating results of the Company. The Company did not have any material, non-recurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue.
For the Year Ended
(in thousands)December 31,
2021
Revenues
$679,542