Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.19.3.a.u2
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable The Acquisition Date fair value of common stock transferred is calculated below (in thousands, except share and per share amounts):
Common Stock Valuation
Amount
Shares of common stock issued as consideration
1,000,000   
$ 13.94   
Value of common stock issued as consideration
$ 13,940   
Issue discount due to lack of marketability
$ (697)  
Fair value of common stock at December 10, 2018
$ 13,243   
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The acquisition fair values below are presented as of December 10, 2018 (in thousands):

December 10, 2018
(As Initially Reported)
Measurement Period and Other Adjustments December 10, 2018
(As Adjusted)
Current assets $ 22,172    $ 2,765    $ 24,937   
Property and equipment 21,029    (428)   20,601   
Identifiable intangible assets 71,792    (3,463)   68,329   
Goodwill 50,873    709 51,582   
Long-term assets 170    —    170   
Total assets acquired $ 166,036    $ (417)   $ 165,619   
Current liabilities (10,769)   (1,430)   (12,199)  
Long-term liabilities (1)
(15,265)   1,847    (13,418)  
Net assets acquired $ 140,002    $ —    $ 140,002   

(1) Includes $14.7 million and $12.9 million as initially reported and as adjusted, respectively, in deferred tax liabilities associated with tangible and intangible assets acquired.
Business Acquisition, Pro Forma Information
The following unaudited pro forma information (in thousands) has been provided for illustrative purposes only and is not necessarily indicative of results that would have occurred had the acquisition of Genoptix occurred on January 1, 2018, nor are they necessarily indicative of future results.
For the Year Ended December 31, 2018
(unaudited)
Revenue $ 367,988   
Net loss $ (1,999)  
Net income available to common stockholders $ 1,401   

The following unaudited pro forma information (in thousands) has been provided for illustrative purposes only and is not necessarily indicative of results that would have occurred had the Acquisition been in effect since January 1, 2017, nor are they necessarily indicative of future results.
For the Years ended December 31,
(unaudited)
2018 2017
Revenue $ 367,988    $ 356,711   
Net income (loss) attributable to common stockholders 1,401    (42,930)  
Income (loss) per share $ 0.02    $ (0.53)  
Basic 85,618    80,426   
Diluted 91,568    80,426