Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

v3.19.1
Acquisition (Tables)
3 Months Ended
Mar. 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 
Stock price per share on closing date $ 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 Company is in the process completing its valuation of certain assets and liabilities, primarily related to accounts receivable and accounts payable assumed; thus, the provisional measurements of current assets and current liabilities are subject to change.
December 10, 2018
(As Initially Reported)
Measurement Period Adjustments December 10, 2018
(As Adjusted)
Current assets $ 22,172  $ 2,257  $ 24,429 
Property and equipment 21,029  (428) 20,601 
Identifiable intangible assets 71,792  374  72,166 
Goodwill 50,873  (1,593) 49,280 
Long-term assets 170  —  170 
Total assets acquired $ 166,036  $ 610  $ 166,646 
Current liabilities (10,769) (892) (11,661)
Long-term liabilities (1)
(15,265) 282  (14,983)
Net assets acquired $ 140,002  $ $ 140,002 
(1) Includes $14.7 million and $14.5 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) have been provided for illustrative purposes only and are not necessarily indicative of results that would have occurred had the acquisition of Genoptix been in effect since January 1, 2017, nor are they necessarily indicative of future results.

Three Months Ended March 31, 2018
Revenue
$ 87,703 
Net (loss)
$ (420)
Net (loss) available to common shareholders
$ (3,275)