Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions (Tables)

v3.21.1
Business Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition
We paid total consideration valued at $8.1 million, which consisted of the following:
(in thousands) Purchase Consideration
Cash $ 2,403 
Class A common stock 2,005 
Promissory note 2,503 
Contingent consideration - payable in cash 609 
Contingent consideration - payable in Class A common stock 609 
Total purchase consideration $ 8,129 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The purchase price allocation is preliminary pending completion of the fair value analysis of the acquired assets.
(in thousands) Estimated Fair Value
as of Acquisition Date
Inventory $ 92 
Developed technology 1,738 
Trade name 1,294 
Customer relationships 165 
Goodwill 4,840 
Total purchase price $ 8,129 
Business Acquisition, Pro Forma Information
The following table presents pro forma results for the three months ended March 31, 2021 and 2020 as if our acquisition of Eyce had occurred on January 1, 2020, and Eyce's results had been included in our consolidated results beginning on that date (in thousands):
Three months ended March 31
2021 2020
(Unaudited)
Net Sales $ 34,161  $ 33,959 
Cost of Goods Sold 26,772  26,573 
Gross Profit 7,389  7,386 
Net Loss $ (7,982) $ (17,024)