Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

v3.21.2
Business Combinations (Tables)
9 Months Ended
Sep. 30, 2021
Business Combinations  
Schedule of estimated fair value of the assets acquired and liabilities assumed for business combinations

Weighted Average Useful Life (in years)

    

V12 Data

    

HOA

    

Rynoh

    

AHP

    

Other Acquisitions

    

Total

Purchase consideration:

Cash

$

20,346

$

82,355

$

32,302

$

43,750

$

25,321

$

204,074

Issuance of common stock

21,687

3,106

24,793

Payable

3,014

3,500

2,500

9,014

Contingent consideration - equity-classified

6,685

6,685

Contingent consideration - liability-classified

1,410

327

1,737

Total purchase consideration:

$

21,756

$

113,741

$

35,802

$

46,250

$

28,754

$

246,303

Assets:

Cash, cash equivalents and restricted cash

$

1,035

$

17,766

$

408

$

5,078

$

1,106

$

25,393

Current assets

4,939

235,669

932

9,761

1,579

252,880

Property and equipment

996

2,267

334

17

80

3,694

Intangible assets:

Customer relationships

10.0

1,650

16,700

12,700

8,900

39,950

Acquired technology

5.0

3,525

2,900

970

7,395

Trademarks and tradenames

11.0

1,225

12,200

900

700

5,160

20,185

Non-competition agreements

2.0

40

90

55

185

Value of business acquired

1.0

400

400

Renewal rights

8.0

7,692

2,042

9,734

Insurance licenses

Indefinite

4,960

4,960

Goodwill

16,760

47,361

21,952

43,095

13,582

142,750

Other non-current assets

55,165

25

1,000

56,190

Total assets acquired

30,170

400,180

40,216

60,718

32,432

563,716

Current liabilities

(6,388)

(273,759)

(409)

(14,389)

(2,252)

(297,197)

Long term liabilities

(2,026)

(8,913)

(79)

(1,000)

(12,018)

Deferred tax liabilities, net

(3,767)

(4,005)

(426)

(8,198)

Net assets acquired

$

21,756

$

113,741

$

35,802

$

46,250

$

28,754

$

246,303

Summary of estimated unaudited pro forma consolidated financial information

    

Three months ended

    

Nine months ended

September 30, 

September 30, 

 

2021

 

2020

 

2021

 

2020

Revenue

$

62,769

$

40,762

$

160,379

$

109,599

Net loss

$

(5,099)

$

(41,820)

$

(84,516)

$

(69,428)

January 12, 2021 Acquisition ("V12 Data")  
Business Combinations  
Summary of fair value of the intangible assets

    

    

Estimated 

Fair 

Useful Life

 

Value

 

(in years)

Intangible assets:

 

  

 

  

Customer relationships

$

1,650

 

10

Acquired technology

 

3,525

 

4

Trademarks and tradenames

1,225

 

15

Non-competition agreements

 

40

2

$

6,440

 

  

April 5, 2021 Acquisition ("HOA")  
Business Combinations  
Summary of fair value of the intangible assets

    

    

Estimated 

Fair 

Useful Life

 

Value

 

(in years)

Intangible assets:

 

  

 

  

Customer relationships

$

16,700

 

10

Trademarks and tradenames

12,200

 

10

Business acquired

400

1

Renewal rights

7,692

8

Insurance licenses

4,960

Indefinite

$

41,952

 

  

May 20, 2021 Acquisition ("Rynoh")  
Business Combinations  
Summary of fair value of the intangible assets

    

    

Estimated 

Fair 

Useful Life

 

Value

 

(in years)

Intangible assets:

 

  

 

  

Customer relationships

$

12,700

 

10

Acquired technology

 

2,900

 

7

Trademarks and tradenames

900

 

20

Non-competition agreements

 

90

1

$

16,590

 

  

September 9, 2021 Acquisition ("AHP")  
Business Combinations  
Summary of fair value of the intangible assets

    

    

Estimated 

Fair 

Useful Life

 

Value

 

(in years)

Intangible assets:

 

  

 

  

Renewal rights

$

2,042

 

6

Trademarks and tradenames

700

 

10

$

2,742