GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

GOODWILL AND INTANGIBLE ASSETS

Schedule of Goodwill

As of December 31, 2022 and 2021, the carrying amount of goodwill was $14.1 million. The following table summarizes goodwill transaction for the years ended December 31, 2022, 2021 and 2020 (in thousands):

	Year Ended December 31,
	2022		2021		2020
Balance at beginning of year	$	14,123	$	15,774	$	2,293
Addition		—		—		13,481
Measurement period acquisition adjustment (1)		—		(1,651)		—
Balance at end of year	$	14,123	$	14,123	$	15,774

(1) Goodwill adjustment was recorded within the measurement period with a corresponding reduction in the Holdback Amount and reduction to net deferred tax liabilities. See Note 4, “Business Combination”.

Schedule of Finite-Lived Intangible Assets, Net

Intangible assets balance was $18.1 million and $21.2 million as of December 31, 2022 and 2021, respectively.

Intangible assets as of December 31, 2022 and 2021, consist of the following (in thousands):

		December 31, 2022						December 31, 2021
	Amortization	Gross				Net		Gross				Net
	Period	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	(Years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Acquired identifiable intangibles:
Customer relationships	1-10	$	9,407	$	(6,684)	$	2,723	$	9,407	$	(6,041)	$	3,366
Developed technology	4-9		33,635		(19,647)		13,988		33,635		(17,250)		16,385
Tradename and trademarks	2-10		1,598		(918)		680		1,598		(812)		786
Patent	6-10		2,100		(1,696)		404		1,800		(1,640)		160
Noncompetition agreements	3		848		(588)		260		848		(306)		542
Total		$	47,588	$	(29,533)	$	18,055	$	47,288	$	(26,049)	$	21,239

Schedule of Finite-lived Intangible Assets Amortization Expense

The weighted average amortization period for acquired identifiable intangible assets was 5.9 years as of December 31, 2022. The following table summarizes intangible assets amortization expense in the Consolidated Statements of Comprehensive Loss (in thousands):

	Year Ended December 31,
	2022		2021		2020
Amortization of acquired technology included under Costs of Revenues	$	2,214	$	2,079	$	705
Amortization of acquired intangible assets presented separately under Costs and Expenses		1,270		1,255		741
Total amortization of acquired intangible assets	$	3,484	$	3,334	$	1,446

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The Company expects annual amortization of acquired identifiable intangible assets to be as follows (in thousands):

Year Ending December 31,	Amount
2023	$	3,491
2024		3,093
2025		2,928
2026		2,759
2027		2,606
2028 and thereafter		3,178
Total future amortization expense	$	18,055