v3.26.3
Business Combination (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination [Line Items]  
Schedule of Estimated Fair Value of Assets Acquired and Liabilities

The following table summarizes the preliminary allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed as of the Trak Racer Acquisition Date. We will continue to reflect measurement period adjustments to the purchase price allocation, if any, in the period in which the adjustments are recognized.

 

 

 

Amounts

 

 

 

(In thousands)

 

 

 

 

 

Inventories

 

$

14,951

 

Prepaid expenses and other current assets

 

 

1,122

 

Property and equipment, net

 

 

634

 

Identifiable intangible assets

 

 

8,040

 

Goodwill

 

 

21,901

 

Other liabilities and accrued expenses

 

 

(1,757

)

Purchase consideration, net of cash acquired

 

$

44,891

 

 

 

 

Valuation

 

 

Useful
Life

 

 

 

(In thousands)

 

 

(In years)

 

 

 

 

 

 

 

 

Trade name

 

$

5,500

 

 

 

15

 

Developed technology

 

 

2,300

 

 

 

10

 

Customer relationships

 

 

240

 

 

 

4

 

Total identifiable intangible assets

 

$

8,040

 

 

 

 
Schedule of Total Acquisition Purchase Consideration

The total acquisition purchase consideration consisted of:
 

 

 

Amounts

 

 

 

(In thousands)

 

 

 

 

 

Cash consideration paid

 

$

37,002

 

Deferred consideration payable (1)

 

 

2,998

 

Base purchase price

 

 

40,000

 

Net working capital adjustment (1)

 

 

2,900

 

Contingent consideration payable (2)

 

 

1,991

 

Purchase consideration, net of cash acquired

 

$

44,891

 
(1)
Deferred consideration payable represents the portion of the base purchase price of $40.0 million withheld by the Company at closing under the BSA, payable to the sellers at a later date. The net working capital adjustment represents additional purchase price owed to the sellers because the final net working capital delivered at closing exceeded the estimate provided by the sellers at signing, as determined under the BSA’s purchase price adjustment provisions.
(2)
Refer to Note 3 for further details.