Business acquisition (Tables)

12 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of Preliminary Fair Value Amounts of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value amounts of the assets acquired and liabilities assumed as of the acquisition date, as well as the purchase consideration:


(in thousands)	December 1, 2021
Assets acquired
Cash and cash equivalents	$	1,306
Accounts receivable	2,309
Other current assets and prepaid expenses	1,654
Property, plant and equipment	1,078
Other non-current assets	2,970
Intangible assets	46,500
Liabilities assumed
Current liabilities	3,549
Non-current liabilities	846
Deferred tax liability	10,545
Fair value of assets acquired and liabilities assumed	$	40,877
Goodwill	61,768
Total purchase price	$	102,645
Consideration transferred
Cash	$	9,467
Company common stock	72,514
Contingent consideration	8,500
Holdback liabilities	12,838
Net working capital adjustment	(674)
Fair value of purchase consideration	$	102,645

The following table summarizes the preliminary fair value amounts of the assets acquired and liabilities assumed as of the acquisition date, as well as the purchase consideration:


(in thousands)	June 14, 2021
Assets acquired
Cash and cash equivalents	$	7
Accounts receivable	37
Inventories	14
Intangible assets	18,410
Goodwill	21,538
Liabilities assumed
Accounts payable	57
Accrued expenses	44
Deferred tax liability	2,252
Fair value of assets acquired and liabilities assumed	$	37,653

Consideration transferred
Cash	$	490
Company common stock	26,772
Contingent consideration	5,467
Indemnity holdback	4,924
Fair value of purchase consideration	$	37,653

Summary of Preliminary Estimate of Intangible Assets

The following table summarizes the preliminary estimate of the intangible assets as of the acquisition date:


(in thousands except for years)	Estimated Weighted Average Useful Lives in Years	Estimated Fair Value
Developed technology	14	$	30,900
Customer relationships	10	14,700
Trade name	3	900
Estimated fair value of acquired intangible assets		$	46,500

The following table summarizes the preliminary estimate of the intangible assets as of the acquisition date:


(in thousands, except for years)	Estimated Weighted Average Useful Lives in Years	Estimated Fair Value
Developed technology	17	$	17,900
Customer relationships	1.5	510
Estimated fair value of acquired intangible assets		$	18,410

Schedule of Reconciliation of Contingent Consideration

The following table provides a reconciliation of contingent consideration and holdbacks balances from acquisition date to September 30, 2022:


(in thousands)	Contingent consideration		Holdbacks		Total
Balance at December 1, 2021 – acquisition date	$	8,500	$	12,164	$	20,664
Change in fair value during the period	(6,400)		(7,071)		(13,471)
Balance at September 30, 2022	$	2,100	$	5,093	$	7,193

Summary of Pro Forma Information

The unaudited pro forma financial information is prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the Abveris acquisition actually taken place on October 1, 2020 and should not be taken as indicative of future consolidated operating results. Additionally, the unaudited pro forma financial results do not include any anticipated synergies or other expected benefits from the Abveris acquisition.


	Year ended September 30,
(in thousands)	2022	2021
Revenues	206,011	143,632
Net loss attributable to common stockholders	(216,796)	(146,515)