BUSINESS ACQUISITIONS AND RELATED TRANSACTIONS (Tables)
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9 Months Ended |
Sep. 30, 2024 |
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| Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
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| Summary of Revenue and Net (Loss) Income |
The following table sets forth the revenue and net (loss) income for Enerqos:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
| Revenue |
$ |
6,891 |
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$ |
18,300 |
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$ |
19,924 |
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$ |
31,341 |
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| Net (loss) income |
(887) |
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|
637 |
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$ |
(2,616) |
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$ |
819 |
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| Summary of Purchase Price Allocation by Acquisitions |
A summary of the cumulative consideration paid and allocation of the purchase price for the Enerqos acquisition are presented in the table below:
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Preliminary March 31, 2023 |
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Measurement Period Adjustment |
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As Adjusted December 31, 2023 |
| Cash |
$ |
9,535 |
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$ |
— |
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$ |
9,535 |
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| Long-term debt assumed, net of current portions |
3,951 |
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— |
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3,951 |
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| FX adjustment |
(41) |
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— |
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(41) |
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| Fair value of consideration transferred |
$ |
13,445 |
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$ |
— |
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$ |
13,445 |
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| Cash and cash equivalents |
$ |
190 |
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$ |
— |
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$ |
190 |
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| Accounts receivable |
6,230 |
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— |
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6,230 |
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| Costs and estimated earnings in excess of billings |
8,985 |
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— |
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8,985 |
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| Prepaid expenses and other current assets |
16,504 |
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— |
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16,504 |
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| Project development costs |
5,140 |
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— |
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5,140 |
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| Property and equipment and energy assets |
1,234 |
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— |
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1,234 |
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| Intangible assets |
4,438 |
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— |
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4,438 |
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| Long-term restricted cash |
163 |
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— |
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163 |
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| Accounts payable |
(15,480) |
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— |
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(15,480) |
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| Accrued expenses and other current liabilities |
(4,510) |
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165 |
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(4,345) |
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| Current portions of long-term debt |
(15,165) |
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— |
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(15,165) |
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| Deferred income tax liabilities, net |
(931) |
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— |
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(931) |
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| Other liabilities |
(208) |
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— |
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(208) |
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| Recognized identifiable assets acquired and liabilities assumed |
$ |
6,590 |
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$ |
165 |
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$ |
6,755 |
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| Goodwill |
$ |
6,855 |
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$ |
(165) |
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$ |
6,690 |
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| Summary of Purchase Price Allocation by Acquisitions |
A summary of the cumulative consideration paid and allocation of the purchase price for the Enerqos acquisition are presented in the table below:
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|
Preliminary March 31, 2023 |
|
Measurement Period Adjustment |
|
As Adjusted December 31, 2023 |
| Cash |
$ |
9,535 |
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$ |
— |
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$ |
9,535 |
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| Long-term debt assumed, net of current portions |
3,951 |
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|
— |
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|
3,951 |
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| FX adjustment |
(41) |
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— |
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|
(41) |
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| Fair value of consideration transferred |
$ |
13,445 |
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$ |
— |
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$ |
13,445 |
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| Cash and cash equivalents |
$ |
190 |
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$ |
— |
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$ |
190 |
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| Accounts receivable |
6,230 |
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— |
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6,230 |
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| Costs and estimated earnings in excess of billings |
8,985 |
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— |
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|
8,985 |
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| Prepaid expenses and other current assets |
16,504 |
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— |
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16,504 |
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| Project development costs |
5,140 |
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— |
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5,140 |
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| Property and equipment and energy assets |
1,234 |
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— |
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1,234 |
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| Intangible assets |
4,438 |
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— |
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4,438 |
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| Long-term restricted cash |
163 |
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— |
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|
163 |
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| Accounts payable |
(15,480) |
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— |
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|
(15,480) |
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| Accrued expenses and other current liabilities |
(4,510) |
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|
165 |
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(4,345) |
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| Current portions of long-term debt |
(15,165) |
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— |
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|
(15,165) |
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| Deferred income tax liabilities, net |
(931) |
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— |
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|
(931) |
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| Other liabilities |
(208) |
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— |
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(208) |
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| Recognized identifiable assets acquired and liabilities assumed |
$ |
6,590 |
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$ |
165 |
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$ |
6,755 |
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| Goodwill |
$ |
6,855 |
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$ |
(165) |
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$ |
6,690 |
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