v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Acquisitions [Abstract]  
Schedule of Total Consideration Transferred in the Acquisition

Total consideration transferred in the acquisition was $581.9 million, consisting of the following (in thousands, except per share data):

 

Fair value of Payment Shares at $10.71 per common share equivalent  $577,045 
Fair value of assumed Corvex OpCo equity awards attributable to pre-combination services   4,910 
Total consideration  $581,955 
Schedule of Fair Values of Assets Acquired and Liabilities

The preliminary fair values of assets acquired and liabilities assumed on the acquisition date are summarized as follows (in thousands):

 

   Opening
Balance Sheet		 
Cash and cash equivalents  $36,678 
Accounts receivable, net   1,342 
Prepaid expenses and other current assets   596 
Property and equipment, net   26,412 
Operating lease right-of-use assets   3,477 
Intangible assets   15,400 
Goodwill   519,318 
Total assets acquired  $603,223 
      
Accounts payable   1,552 
Accrued liabilities   1,454 
Deferred revenue   4,340 
Operating lease liabilities, current   1,605 
Finance lease liabilities, current   3,798 
Operating lease liabilities, non-current   1,921 
Finance lease liabilities, non-current   6,598 
Total liabilities assumed  $21,268 
      
Total purchase price  $581,955 
Schedule of the Amounts Allocated to the Intangible Assets The following table presents the amounts allocated to the intangible assets identified as of the date of acquisition and the estimated useful lives (in thousands):
   Fair value  

Useful life

(in years)

 
Customer Relationships  $5,190    7 
Tradename   10,210    20 
   $15,400      
Schedule of Corvex OpCo’s Contribution to Net Loss
   Six Months Ended June 30, 
   2026   2025 
Revenue:        
Revenue - AI Platform and services  $7,420   $3,561 
Revenue - Connected devices and services   35    309 
Total revenue   7,455    3,870 
Net loss  $(31,401)  $(29,049)