Markforged Holding Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2023

Estimated useful lives of the identifiable intangible assets acquired

The estimated useful lives of the identifiable intangible assets acquired is as follows:


	Gross Value		Estimated Useful Life
Acquired technology	$	14,580	20 years
Customer relationships		560	9 years
Trade names		90	1 year

Schedule of unaudited pro forma financial information

The following unaudited pro forma financial information is based on the historical financial statements of the Company and presents the Company’s results as if the acquisition of Digital Metal had occurred on January 1, 2021:


	Three months ended September 30,			Nine months ended September 30,
	(Unaudited)			(Unaudited)
	2022			2022
Net revenues	$	25,590		$	73,205
Net profit (loss)		(25,695	)		(17,381	)

Teton Simulation Software

Business Acquisition [Line Items]

Schedule of Acquisition date fair value of the consideration transferred

The acquisition date fair value of the consideration transferred is as follows (in thousands):


Fair value of consideration transferred:
Cash consideration	$	2,635
Equity consideration		2,354
Development milestone earnout fair value		1,020
Business milestone earnout fair value		582
Total consideration transferred	$	6,591

Schedule of estimated fair values of assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price to the estimated fair values of assets acquired and liabilities assumed (in thousands):


Fair value of assets acquired:	At April 4, 2022
Cash and cash equivalents	$	383
Accounts receivable		5
Other assets		17
Intangible assets		2,220
Goodwill		4,711
Assets acquired:	$	7,336
Fair value of liabilities assumed:
Customer payable - cancelled contracts	$	38
Accrued expense for pre-acquisition expenses		231
Accrued expense for grant repayment		240
Deferred tax liability		236
Liabilities acquired:	$	745

Digital Metal

Business Acquisition [Line Items]

Schedule of Acquisition date fair value of the consideration transferred

The acquisition date fair value of the consideration transferred is as follows (in thousands):


Fair value of consideration transferred:
Cash consideration	$	33,500
Equity consideration		9,840
Total consideration transferred	$	43,340

Schedule of estimated fair values of assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price to the estimated fair values of assets acquired and liabilities assumed (in thousands):


Fair value of assets acquired:	At August 31, 2022
Cash and cash equivalents	$	579
Accounts receivable, net		535
Inventory		2,470
Prepaid and other assets		265
Fixed assets		2,755
Right-of-use asset		205
Intangible assets		15,230
Goodwill		25,770
Assets acquired:	$	47,809
Fair value of liabilities assumed:
Accounts payable and accrued expenses	$	873
Lease liability – short term		67
Deferred revenue		392
Deferred tax liability		3,005
Lease liability – long term		132
Liabilities acquired:	$	4,469