v3.26.1
Business Combination and Related Transactions (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination Consideration
The consideration paid was comprised of cash and common stock, as follows (in thousands):
Consideration:
  Cash consideration$32,392 
  Fair value of common stock issued, less shares subject to continued employment requirements(1)
22,780 
$55,172 
(1)Calculated based upon 1,187,672 shares at the stock price of $19.18 per share on the Closing Date.
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table provides the assets acquired and liabilities assumed as of the date of acquisition (in thousands):
Estimated Fair Value
Purchase consideration$55,172 
Amounts of identifiable assets and liabilities assumed
Cash and cash equivalents$4,899 
Accounts receivable, net1,594 
Inventory2,159 
Prepaid expenses and other current assets (1)
4,065 
Property and equipment, net701 
Operating lease, right-of-use assets1,233 
Intangible assets, net23,400 
Other non-current assets 66 
Accounts payable(1,692)
Accrued and other current liabilities(10,792)
Contract liabilities, current(2,279)
Operating lease liability, current portion(197)
Operating lease liability, non-current portion(1,003)
Deferred tax liability(5,507)
Total identifiable net assets$16,647 
Goodwill38,525 
$55,172 
(1) Prepaid expenses and other current assets includes a $1.9 million indemnification asset, with the underlying indemnified liability of $6.3 million recorded within accrued and other current liabilities.
Schedule of Acquired Indefinite-Lived Intangible Assets by Major Class
Identified intangible assets acquired and their estimated useful lives as of February 4, 2026, were (in thousands, except years):
Estimated Useful Life
(in years)
Estimated Fair Value
Trade name6$1,500 
Developed technology414,000 
Customer relationships87,900 
Intangible assets, net$23,400 
Schedule of Business Acquisition, Pro Forma Information
The unaudited supplemental pro forma information below presents the combined historical results of operations of the Company and Stereolabs as if Stereolabs had been acquired as of January 1, 2025 (in thousands):

Three Months Ended March 31,
20262025
Revenue$50,216 $34,371 
Net loss$(24,245)$(31,848)
The unaudited supplemental pro forma information above includes the following adjustments to net loss in the appropriate pro forma periods (in thousands):

Three Months Ended March 31,
20262025
An increase in amortization expense related to the fair value of acquired identifiable intangible assets, net of the amortization expense already reflected in actual historical results.$(484)$(1,184)
A decrease (increase) in expenses related to the transaction expenses. This amount includes $3.0 million in transaction expenses incurred by the sellers.
$4,137 $(8,022)
An increase in additional stock-based compensation expense related to shares issued to key Stereolabs employees in the acquisition that are considered compensatory in the post business combination periods due to the additional service requirement, net of the stock compensation expense already reflected in actual historical results.$(303)$(780)
A decrease (increase) in additional stock-based compensation expense related to the impact of the acceleration of Stereolabs warrants that vested at the close of the Stereolabs acquisition.
$207 $(207)