Business Combinations (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following presents the final allocation of the

purchase consideration to the assets acquired and liabilities assumed for Symeo, TeraXion and ON Design Israel as of December 31, 2022:

	Symeo GmbH		TeraXion		ON Design Israel
Purchase price - cash consideration	$	10,000	$	74,050	$	6,107
Purchase price - cash consideration (Accrual)	9,674		—		7,500
Add: debt paid at closing	—		6,857		—
Less: cash acquired	(1,295)		(5,625)		(1,133)
Net cash paid	18,379		75,282		12,474
Purchase price - equity consideration
Common stock	—		65,192		—
Options	—		17,249		—
Total equity consideration	—		82,441		—
Earn out shares	7,836		—		—
Contingent consideration	—		—		4,000
Net consideration	$	26,215	$	157,723	$	16,474
Fair value of net assets and liabilities assumed:
Current assets other than cash	2,767		7,627		119
Property and equipment	1,039		4,992		1,424
Developed technology	5,060		17,305		—
In-progress research & development	4,060		—		10,100
Customer relationships	4,510		13,059		—
Backlog	350		16		—
Trade name	2,590		6,946		—
Other non-current assets	36		—		66
Current liabilities	(1,461)		(5,840)		(537)
Deferred revenue	—		(1,025)		—
Deferred tax liabilities, non-current	(1,055)		(10,030)		—
Long-term debt	—		(7,580)		—
Total fair value of net assets acquired	17,896		25,470		11,172
Goodwill	$	8,319	$	132,253	$	5,302

Schedule of Net Assets Acquired And Goodwill

As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:

	Preliminary Valuation		Adjustments		Final Valuation
Property and equipment	$	6,009	$	(1,017)	$	4,992
Developed technology	43,594		(26,289)		17,305
In-progress research & development	10,304		(10,304)		—
Customer relationships	12,682		377		13,059
Backlog	2,378		(2,362)		16
Trade name	6,125		821		6,946
Deferred tax liabilities, non-current	(20,272)		10,242		(10,030)
Goodwill	103,721		28,532		132,253

As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:

	Preliminary Valuation		Adjustment		Final Valuation
Property and equipment	$	1,315	$	109	$	1,424
Developed technology	5,077		(5,077)		—
In-progress research & development	1,562		8,538		10,100
Current liabilities	(754)		217		(537)
Goodwill	9,089		(3,787)		5,302

As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:

	Preliminary Valuation		Adjustment		Final Valuation
Purchase price - contingent considerations	$	8,204	$	(368)	$	7,836
Inventory	2,020		(90)		1,930
Developed technology	6,631		(1,571)		5,060
In-progress research & development	2,170		1,890		4,060
Customer relationships	2,411		2,099		4,510
Backlog	603		(253)		350
Trade name	965		1,625		2,590
Deferred tax liability	(2,935)		1,880		(1,055)
Goodwill	14,267		(5,948)		8,319

Subsequent to the issuance of the financial statements for the fiscal year ended December 31, 2021, the Company identified a misstatement in the financial statements related to the recognition of deferred taxes in the purchase accounting for ON Design Israel. The Company recorded the following adjustment:

	December 31, 2021
	Initially reported		Adjustment		Corrected
Goodwill	$	115,206	$	(1,632)	$	113,574
Deferred tax liabilities, non-current	$	21,164	$	(1,632)	$	19,532

Pro Forma Financial Information

The unaudited pro forma financial information shown below summarizes the combined results of operations for the Company and TeraXion as if the closing of the acquisition had occurred on January 1, 2021:

	Year ended
	December 31, 2021
Combined revenue	$	66,788
Combined net loss before income taxes	(126,350)