BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jun. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Estimates Fair Value of Assets Acquired and Liabilities Assumed

The following table presents the purchase consideration and the estimates of the preliminary fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:


	May 26, 2026
Cash consideration	$	38,885
Contingent consideration	5,654
Purchase consideration	$	44,539

Description
Cash and cash equivalents	$	3,867
Accounts receivable	2,020
Contract assets	2,590
Inventories	148
Prepaids and other current assets	340
Property, plant and equipment	3,137
Intangible assets	14,000
Right-of-use assets - operating leases	2,100
Other non-current assets	141
Trade payables	(299)

Employee benefits payable	(3,631)
Contract liabilities	(6,709)
Other current liabilities	(680)
Non-current operating lease liabilities	(1,460)

Identifiable net assets acquired	15,564
Goodwill	28,975
Total purchase price	$	44,539

The following table presents the purchase consideration and the estimates of the preliminary fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:


	April 14, 2026
Fair value of common stock issued (1)	$	160,802
Purchase consideration	$	160,802

Description
Cash and cash equivalents	$	1,304
Accounts receivable	8,591

Inventories	41,088
Prepaids and other current assets	17,862
Property, plant and equipment	31,192
Intangible assets	99,073
Right-of-use assets - operating leases	21,992

Other non-current assets	1,350
Trade payables	(10,466)
Accrued expenses	(2,441)
Employee benefits payable	(3,716)
Contract liabilities	(69,081)
Other current liabilities	(3,367)
Non-current operating lease liabilities	(19,622)
Deferred income tax liabilities	(8,905)
Other non-current liabilities	(4,058)
Identifiable net assets acquired	100,796
Goodwill	60,006
Total purchase price	$	160,802

_____________________________________

(1) The Company issued 2,277,002 shares of common stock, with the fair value determined based on the Company’s common stock closing price of $70.62 on April 13, 2026.

The following table presents the purchase consideration and the estimates of the preliminary fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:


	August 12, 2025
Cash consideration	$	136,178
Fair value of common stock issued (1)	137,653
Contingent consideration (2)	18,258
Purchase consideration	$	292,089

Description
Cash and cash equivalents	$	1,280
Accounts receivable	3,196
Contract assets	787
Inventories	402
Prepaids and other current assets	1,079
Property, plant and equipment	4,267
Intangible assets	183,300
Right-of-use assets - operating leases	6,553
Other non-current assets	424
Trade payables	(2,467)
Accrued expenses	(142)
Employee benefits payable	(3,407)
Contract liabilities	(842)
Other current liabilities	(1,340)
Non-current operating lease liabilities	(5,256)
Deferred income tax liabilities	(31,997)
Identifiable net assets acquired	155,837
Goodwill	136,252
Total purchase price	$	292,089

_____________________________________

(1) The Company issued 3,057,588 shares of common stock, with the fair value determined based on the Company’s common stock closing price of $45.02 on August 11, 2025.

(2) The contingent consideration, to be paid in cash, was classified as a liability and included in other non-current liabilities on the condensed consolidated balance sheets. To estimate the fair value of the contingent consideration liability, management valued the earn-out based on the likelihood of reaching certain revenue targets. At the acquisition date, the fair value of the contingent consideration payable was measured based on a Monte Carlo simulation utilizing projections about future performance. Significant inputs at acquisition include revenue volatility of 29%, discount rate of 10% and projected financial information.

Schedule of Identifiable Intangible Assets Acquired and Related Expected Lives for the Finite-Lived Intangible Assets

The following is a summary of preliminary identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:


Type	Estimated Life in Years	Fair Value
Developed technology	17	$	13,300
Backlog	1.5	700
Total identifiable intangible assets acquired		$	14,000

The following is a summary of preliminary identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:


Type	Estimated Life in Years	Fair Value
Developed technology	11	$	51,996
Customer relationships	12	32,439
Trademarks and tradenames	18	7,495
Backlog	1	7,143
Total identifiable intangible assets acquired		$	99,073

The following is a summary of preliminary identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:


Type	Estimated Life in Years	Fair Value
Developed technology	10	$	172,300
Backlog	5	11,000
Total identifiable intangible assets acquired		$	183,300

Schedule of Unaudited Consolidated Pro Forma Operating

These unaudited consolidated pro forma operating results are presented for illustrative purposes only and are not indicative of the operating results that would have been achieved had the acquisition occurred on January 1, 2025, nor does the information project results for any future period.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Total revenues	$	237,842	$	173,064	$	455,880	$	313,875

Net loss	$	(55,043)	$	(82,520)	$	(118,883)	$	(168,135)