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Business Combinations (Tables)
12 Months Ended
Dec. 31, 2022
Business Combinations [Abstract]  
Summary of fair value of assets acquired and liabilities (Details)

The following table summarizes the fair value of assets acquired and liabilities assumed:

 

 

July 19, 2021

 

 

 

(in thousands)

 

Cash and cash equivalent

 

$

31,240

 

Other current assets

 

 

943

 

Intangible assets

 

 

45,500

 

Goodwill

 

 

224,852

 

Other noncurrent assets

 

 

2,692

 

Total assets acquired

 

 

305,227

 

Current liabilities

 

 

4,272

 

Noncurrent liabilities

 

 

1,501

 

Total liabilities assumed

 

 

5,773

 

Total purchase consideration

 

$

299,454

 

 

Summary of components of identifiable intangible assets acquired and their estimated useful lives The following table presents components of the identified intangible assets acquired and their estimated useful lives as of the date of acquisition:

 

 

Fair Value

 

 

Useful Life

 

 

 

(in thousands)

 

 

(in years)

 

Developed technology

 

$

41,300

 

 

 

5.0

 

Customer relationships

 

 

4,200

 

 

 

6.0

 

Total intangible assets acquired

 

$

45,500

 

 

 

 

 

Summary of Unaudited Pro Forma Information

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 Vdoo. 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 acquisition of Vdoo had occurred at the beginning of 2020.

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Revenue

 

$

207,824

 

 

$

152,197

 

Net loss

 

$

89,939

 

 

$

50,858