GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The Company recorded goodwill of $2,131 on October 29, 2021 in connection with the Karani Acquisition and goodwill of $2,088 in connection with the Coit Acquisition. (See Note 5 for further information).

Intangible Assets

The Company’s intangible assets consisted of the following components:


June 30, 2022	Weighted Average Remaining Amortization Useful Lives (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	0.3	$	80	$	(70)	$	10
Trade name	7.7	1,500		(213)		1,287
Customer lists	4.8	3,800		(661)		3,139
Developed technology	2.3	640		(143)		497
		$	6,020	$	(1,087)	$	4,933


December 31, 2021	Weighted Average Remaining Amortization Useful Lives (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	0.8	$	80	$	(50)	$	30
Trade name	8.2	1,500		(118)		1,382
Customer lists	5.3	3,800		(328)		3,472
Developed technology	2.8	640		(36)		604
		$	6,020	$	(532)	$	5,488

Amortization expense for the three and six months ended June 30, 2022 was $278 and $555, respectively. Intangible assets are amortized on a straight-line basis over their estimated useful lives. No impairment in the value of amortizable intangible assets was recognized during six months ended June 30, 2022 and 2021.

Estimated future amortization expense for intangible assets for the remainder of the fiscal year ending December 31, 2022, and for each of the next fiscal years are as follows:


2022	$	545
2023	1,070
2024	1,034
2025	787
2026	577
Thereafter	920
	$	4,933

The change in the book value of amortizable intangible assets is as follows:


	January 1, 2022 Beginning Balance		Acquisition		Amortization		June 30, 2022 Ending Balance
Non-compete agreements	$	30	$	—	$	(20)	$	10
Trade name	1,382		—		(95)		1,287
Customer lists	3,472		—		(333)		3,139
Developed technology	604		—		(107)		497
	$	5,488	$	—	$	(555)	$	4,933