Annual report pursuant to Section 13 and 15(d)

Business Combination (Tables)

v3.23.1
Business Combination (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Summary of Consideration Paid in Business Acquisition
The following table summarizes our current allocation of the October 18, 2021 purchase price:

Initial Allocation
 Adjustments Final Allocation
Cash $ 4  $ —  $ 4 
Inventory 1,687 — 1,687
Intangible assets 3,340 — 3,340
Accrued expenses — (436) (436)
Deferred revenue (1,369) (35) (1,404)
Goodwill 6,937 35 6,972
Total purchase price 10,599  (436) 10,163 
Fair value adjustments 382  —  382 
Total consideration paid $ 10,981  $ (436) $ 10,545 
Summary of Unaudited Pro Forma Financial Information The following table summarizes the unaudited pro forma condensed financial information of Phunware, Inc for the year ended December 31, 2021 as if the acquisition of Lyte had occurred on January 1, 2021:
Year Ended December 31, 2021
(in thousands) (unaudited)
Net revenues $ 18,175 
Net loss (53,935)