v3.25.4
Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Business Combination
The initial aggregate purchase price of this transaction was funded with cash on hand as shown in the table below:
Cash paid to BioMedomics$2,865 
Transaction expenses403 
Debt paid off330 
Earnout contingent consideration325 
Expense fund40 
Initial aggregate purchase price$3,963 
The initial aggregate purchase price of this transaction was funded with cash on hand as shown in the table below:
Milestone contingent consideration$15,910 
Royalty based contingent consideration7,000 
Cash paid to Sherlock5,000 
Legal expenses389 
Insurance policy expense50 
Initial aggregate purchase price$28,349 
Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:
Assets Acquired
Other current and non current assets$10 
Inventory284 
  Operating right-of-use assets120 
  Developed technology intangible asset1,900 
  Goodwill1,775 
Total assets acquired4,089 
Liabilities Assumed
Accounts payable34 
Current liabilities17 
Deferred revenue72 
Operating lease liability120 
Total liabilities assumed243 
Net Assets Acquired3,846 
Estimated fair value of contingent consideration(233)
Net Cash Paid (net of cash acquired of $25)
$3,613 
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:
Assets Acquired
Other current assets$2,570 
Property, plant, and equipment, net9,244 
Other noncurrent assets462 
Operating right-of-use assets4,080 
In-process research and development technology intangible asset17,000 
Goodwill6,382 
Total assets acquired39,738 
Liabilities Assumed
Accounts payable2,449 
Current liabilities3,621 
Deferred revenue1,641 
Operating lease liability4,080 
Total liabilities assumed11,791 
Net Assets Acquired27,947 
Estimated fair value of contingent consideration(22,910)
Net Cash Paid (net of cash acquired of $402)
$5,037 
Business Combination, Pro Forma Information
The unaudited pro forma results presented below include the results of the BioMedomics acquisition as if it had been consummated as of January 1, 2024. The unaudited pro forma results include, amortization of the acquired intangible assets, stock compensation, and lease expense adjustments to income before income taxes but do not include changes in the fair value of the Company's contingent consideration obligations. Material nonrecurring charges, directly attributable to the transactions, including direct acquisition costs, are also excluded. In addition, the unaudited pro forma results do not include any expected benefits of the acquisitions. Accordingly, the unaudited pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions been consummated as of January 1, 2024.
For the Years Ended December 31,
20252024
Net revenues $115,797 $187,041 
Net loss
$(68,964)$(20,889)
For the Years Ended December 31,
20242023
Net revenues $188,126 $406,381 
Net income loss$(41,459)$7,992