Acquisitions |
6 Months Ended |
---|---|
Jun. 30, 2025 | |
Business Combination [Abstract] | |
Acquisitions | 2. ACQUISITIONS Casa: On June 7, 2024, the Company acquired certain assets of Casa Systems, Inc. and its subsidiaries (Casa), which provides telecommunication infrastructure equipment and software-centric infrastructure solutions that allow cable service providers to deliver voice, video and data services over a single platform. The Company funded the purchase price of $45.1 million and settled certain assumed Casa Liabilities, with cash on hand. For the three and six months ended June 30, 2025, the Company recorded $1.8 million and $16.5 million, respectively, of net sales included on the Condensed Consolidated Statements of Operations related to the Casa business. For the six months ended June 30, 2025, the Company completed its acquisition method of accounting in accordance with ASC Topic 805, Business Combinations, and made an adjustment to decrease the fair value of accounts receivable, net by $1.7 million with a corresponding increase of $1.7 million to goodwill. The fair value of accounts receivable, net is $3.5 million with a gross contractual amount of $12.2 million. The Company expects $8.7 million to be uncollectible. |