Annual report pursuant to Section 13 and 15(d)

Business Combination (Tables)

v3.22.1
Business Combination (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Summary of Consideration Paid in Business Acquisition
The following table summarizes the consideration paid for Lyte and the estimated fair values of the aggregate assets and liabilities acquired, at the acquisition date:

Fair Value
Assets acquired
Cash $ 4 
Inventory 1,687
Intangible assets 3,340
Total assets acquired 5,031
Liabilities assumed
Deferred revenue 1,369
Total liabilities assumed 1,369
Net assets acquired 3,662
Consideration:
Cash 3,980
Acquisition and earn-out payable (subject to fair value adjustments) 6,619
Total consideration 10,599
Goodwill $ 6,937 
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, 2020:

Year Ended December 31,
2021 2020
(in thousands) (unaudited)
Net revenues $ 18,175  $ 15,581 
Net loss (53,935) (22,922)