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, 2022

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	$	13,130	20 years
Customer relationships		500	9 years
Trade names		80	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			2021		2022			2021
Net revenues	$	25,590		$	24,900	$	73,205		$	67,946
Net profit (loss)		(25,695	)		21,698		(17,381	)		593

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 preliminary 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		4,475
Assets acquired:	$	7,100
Fair value of liabilities assumed:
Customer payable - cancelled contracts	$	38
Accrued Expense for pre-acquisition expenses		231
Accrued Expense for grant repayment		240
Liabilities acquired:	$	509

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 preliminary 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		13,710
Goodwill		27,813
Assets acquired:	$	48,332
Fair value of liabilities assumed:
Accounts payable and accrued expenses	$	873
Lease liability – short term		67
Deferred revenue		392
Deferred tax liability		3,528
Lease liability – long term		132
Liabilities acquired:	$	4,992