GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The Company recorded goodwill of $687 on August 19, 2022 in connection with the HnB Acquisition (See Note 6 for further information on the HnB Acquisition).

For the nine months ended September 30, 2023 and the twelve months ended December 31, 2022, the changes in carrying amount of goodwill were as follows:


	Carrying Value
	2023
Goodwill, January 1,	$	4,875
Acquisition	—
Currency translation	(4)
Goodwill, September 30, 2023	$	4,871


	Carrying Value
	2022
Goodwill, January 1,	$	4,219
Acquisition	687
Currency translation	(31)
Goodwill, December 31, 2022	$	4,875

Intangible Assets

The Company’s intangible assets consisted of the following components as of September 30, 2023 and December 31, 2022:


September 30, 2023	Weighted Average Remaining Amortization Useful Lives (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	1.9	$	118	$	(94)	$	24
Trade name	7.0	1,547		(461)		1,086
Customer lists	3.7	3,857		(1,516)		2,341
Developed technology	1.2	657		(414)		243
		$	6,179	$	(2,485)	$	3,694


December 31, 2022	Weighted Average Remaining Amortization Useful Lives (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	2.6	$	118	$	(85)	$	33
Trade name	7.6	1,548		(312)		1,236
Customer lists	4.4	3,857		(1,001)		2,856
Developed technology	1.8	640		(249)		391
		$	6,163	$	(1,647)	$	4,516

Amortization expense for the three and nine months ended September 30, 2023 was $278 and $838, 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 the nine months ended September 30, 2023 and 2022.

Estimated future amortization expense for intangible assets for the remainder of the fiscal year ending December 31, 2023, and for each of the next fiscal years are as follows:


2023	$	279
2024	1,081
2025	822
2026	586
2027	505
Thereafter	421
	$	3,694

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


	January 1, 2023 Beginning Balance		Acquisition		Amortization		Translation and Other		September 30, 2023 Ending Balance
Non-compete agreements	$	33	$	—	$	(9)	$	—	$	24
Trade name	1,236		—		(150)		—		1,086
Customer lists	2,856		—		(514)		(1)		2,341
Developed technology	391		—		(165)		17		243
	$	4,516	$	—	$	(838)	$	16	$	3,694