Divestitures |
3 Months Ended |
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Mar. 31, 2025 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestitures | 12. Divestitures During the three months ended March 31, 2025, the Company completed the divestitures of certain product lines for combined consideration of $5.5 million and up to $4.0 million in earn-outs over the next 2 years. The combined net loss on divestitures was $23.5 million. The Company incurred divestiture-related expenses of $1.7 million during the three months ended March 31, 2025 which are recorded in Divestiture-related expenses on the Company’s condensed consolidated statements of operations. As part of the divestitures, the Company entered into a transition services agreement (“TSA”) with each of the buyers to assist them in the transition of certain functions, including, but not limited to, information technology, finance and accounting, for an initial period of 60 - 120 days unless extended by mutual agreement. The Company has $2.0 million in receivables from the buyers for the TSA services recorded in prepaid expenses and other current assets in the condensed consolidated balance sheets at March 31, 2025.
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