Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

(6) Goodwill and Intangible Assets

The following table summarizes the activity related to goodwill (in thousands):


	June 30,
	2022			2021
Balance at beginning of period, gross	$	7,148		$	4,980
Accumulated impairment at beginning of period		(1,003	)		(1,003	)
Goodwill from acquisitions		22,803			1,698
Foreign exchange impact		29			—
Balance at end of period	$	28,977		$	5,675

During the six months ended June 30, 2022, the Company recorded goodwill of $22.8 million related to the ASSIA Acquisition, which was allocated to the Americas reporting unit. Refer to Note 2 Business Combinations for further information.

Intangible assets consisted of the following (in thousands):


	June 30, 2022
	Gross Carrying Amount		Accumulated Amortization			Net
Developed technology	$	10,807	$	(3,750	)	$	7,057
Customer relationships		18,230		(3,266	)		14,964
In-process research and development		890		(251	)		639
Tradenames		500		(4	)		496
Total intangible assets, net	$	30,427	$	(7,271	)	$	23,156


	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net
Developed technology	$	5,007	$	(3,464	)	$	1,543
Customer relationships		5,730		(2,886	)		2,844
In-process research and development		890		(162	)		728
Total intangible assets, net	$	11,627	$	(6,512	)	$	5,115

During the six months ended June 30, 2022, the Company recorded $12.5 million, $5.8 million and $0.5 million in customer relationships, developed technology, and tradenames, respectively, related to the ASSIA Acquisition. Refer to Note 2 Business Combinations for further information.

Amortization expense associated with intangible assets for the three and six months ended June 30, 2022 was $0.5 million and $0.8 million, respectively. Amortization expense associated with intangible assets for the three and six months ended June 30, 2021 was $0.5 million and $0.9 million, respectively.

The following table presents the future amortization expense of the Company’s intangible assets as of June 30, 2022 (in thousands):


Remainder of 2022	$	1,610
2023		3,220
2024		3,220
2025		3,220
2026		2,449
Thereafter		9,437
Total	$	23,156