Goodwill and Investments and Other Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Investments and Other Assets, Net

6. Goodwill and Investments and Other Assets, Net

Goodwill

We performed an annual qualitative test for goodwill impairment in the fourth quarter of the fiscal years ended December 31, 2023 and 2022 and determined that goodwill was not impaired. Goodwill was $31.9 million as of December 31, 2023 and 2022.

Investments and Other Assets, Net

Investments and other assets, net represents Gaia’s investments in entities for which we do not exercise significant influence or have significant ownership stake, as well as assets that are held for sale not in the ordinary course of business. Investments and other assets, net consist of the following as of December 31:

(in thousands)	2023		2022
Other assets	$	1,471	$	4,556
Other intangible assets, net		1,686		2,254
Investments and other assets, net	$	3,157	$	6,810

The following table represents our other intangible assets, net by major asset class as of the dates indicated, which are included in Investments and other assets, net on the accompanying consolidated balance sheets as of December 31:

(in thousands)	2023			2022
Amortizable Intangible Assets
Customer relationships	$	2,000		$	2,000
Accumulated amortization		(1,011	)		(510	)
Customer relationships, net	$	989		$	1,490
Tradenames	$	270		$	270
Accumulated amortization		(136	)		(69	)
Tradenames, net	$	134		$	201
Unamortized Intangible Assets
Domain names	$	563		$	563
Other intangible assets, net	$	1,686		$	2,254

The customer related intangible assets are amortized on a straight-line basis over 48 months. Amortization expense was $568 thousand and $568 thousand for 2023 and 2022, respectively. Weighted-average remaining useful life for these intangible assets is 24 months. Future amortization of our amortizable intangible assets as of December 31, 2023 is expected to be as follows:

(in thousands)
2024	$	568
2025		555
	$	1,123