Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions (Tables)

v3.21.2
Business Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition The total purchase consideration for the Eyce acquisition 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 914 
Contingent consideration - payable in Class A common stock 914 
Total purchase consideration $ 8,739 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The following table summarizes the purchase price allocation and the estimated fair value of the net assets acquired at the date of acquisition as of June 30, 2021.
(in thousands) Estimated Fair Value
as of Acquisition Date
(as previously reported)		 Measurement Period Adjustments Estimated Fair Value as of Acquisition Date
(as adjusted)
Inventory $ 92  $ —  $ 92 
Developed technology 1,738  —  1,738 
Trade name 1,294  —  1,294 
Customer relationships 165  —  165 
Goodwill 4,840  610  5,450 
Total purchase price $ 8,129  $ 610  $ 8,739 
Business Acquisition, Pro Forma Information
The following table presents pro forma results for the three and six months ended June 30, 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 June 30, Six months ended June 30,
2021 2020 2021 2020
(Unaudited) (Unaudited)
Net sales $ 34,715  $ 32,584  $ 68,876  $ 66,544 
Cost of sales 26,944  25,688  53,716  52,261 
Gross profit 7,771  6,896  15,160  14,283 
Net loss $ (5,840) $ (6,522) $ (13,822) $ (23,546)