v3.26.1
Acquisition (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions Purchase Price Consideration
The purchase consideration to acquire APA consisted of the following:
Cash consideration paid
$166,135 
Earn-out
19,256 
Purchase consideration
$185,391 
Schedule of Business Acquisitions, by Acquisition
The following table summarizes the fair values of the assets acquired and liabilities assumed, including measurement period adjustments as of June 30, 2026 (in thousands). No measurement period adjustments have been recognized since December 31, 2025.
Fair Value of Net Assets Acquired and Liabilities Assumed:
Acquisition Date Including Remeasurements
Cash and cash equivalents$1,219 
Accounts receivable
29,124 
Inventories25,136 
Prepaid expenses and other466 
Property, plant and equipment14,256 
Other intangible assets88,000 
Other assets27,244 
Total assets acquired$185,445 
Accounts payable12,540 
Deferred revenue22,329 
Other liabilities4,138 
Other long-term liabilities26,493 
Total liabilities assumed$65,500 
Fair value of net assets acquired
119,945 
Allocation to goodwill
65,446 
Purchase consideration$185,391 
Schedule of Purchase Price Allocation
The purchase price allocation includes $88.0 million of acquired identifiable intangible assets as follows:
Estimated Fair Value
(in USD)		Estimated Weighted Average Useful Life in Years
(in thousands, except useful lives)
Developed technology$22,000 5
Computer software and other
13,000 5
Customer relationships39,500 
5-9
Backlog3,500 1
Trade name10,000 10
Total$88,000 
Schedule of Business Acquisition, Pro Forma Information The unaudited pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the APA Acquisition and is not necessarily indicative of the operating results that would have actually occurred had the APA Acquisition been consummated on January 1, 2024. These results are prepared in accordance with U.S. GAAP (in thousands).
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Revenue
$397,021 $725,261 
Net income
44,992 57,962 
Pro forma adjustments (1)
$(6,789)$(13,577)
(1) Pro forma adjustments represent re-casting of incremental expenses, net of estimated taxes, resulting from the APA Acquisition, including Deferred Consideration expense, intangible asset amortization, and the impacts of lease re-measurements and increases to the fair value of inventories and property, plant and equipment.