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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Goodwill

The following table presents details of the Company’s goodwill for the six months ended June 30, 2016 (in thousands):

 

 

 

CareDx

 

 

Allenex

 

 

Total

 

Balance as of December 31, 2015

 

$

12,005

 

 

$

—

 

 

$

12,005

 

Goodwill acquired

 

 

—

 

 

 

16,786

 

 

 

16,786

 

Foreign currency translation adjustments

 

 

—

 

 

 

(719

)

 

 

(719

)

Balance as of June 30, 2016

 

$

12,005

 

 

$

16,067

 

 

$

28,072

 

 

Summary of Intangible Assets

The following tables present details of the Company’s intangible assets as of June 30, 2016 (in thousands):

 

 

 

June 30, 2016

 

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net Carrying

Amount

 

 

Weighted

Average

Remaining

Useful Life

(In Years)

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

12,650

 

 

$

(175

)

 

$

(547

)

 

$

11,928

 

 

 

14.5

 

Developed technology

 

 

11,650

 

 

 

(245

)

 

 

(504

)

 

 

10,901

 

 

 

9.5

 

Trademarks

 

 

2,260

 

 

 

(31

)

 

 

(98

)

 

 

2,131

 

 

 

14.5

 

Acquired contracts

 

 

490

 

 

 

(50

)

 

 

(21

)

 

 

419

 

 

 

1.8

 

Total intangible assets with finite lives

 

 

27,050

 

 

 

(501

)

 

 

(1,170

)

 

 

25,379

 

 

 

12.1

 

Acquired in-process technology―dd-cfDNA

 

 

6,650

 

 

 

—

 

 

 

—

 

 

 

6,650

 

 

 

 

 

Acquired in-process technology―QTYPE

 

 

4,510

 

 

 

—

 

 

 

(195

)

 

 

4,315

 

 

 

 

 

Total intangible assets

 

$

38,210

 

 

$

(501

)

 

$

(1,365

)

 

$

36,344

 

 

 

 

 

 

Summary of Estimated Future Amortization Expense of Intangible Assets

The following table summarizes the Company’s estimated future amortization expense of intangible assets with finite lives as of June 30, 2016 (in thousands):

 

Years Ending December 31,

 

Cost of Product

 

 

Sales and Marketing

 

 

Total

 

Remainder of 2016

 

$

690

 

 

$

485

 

 

$

1,175

 

2017

 

 

1,381

 

 

 

970

 

 

 

2,351

 

2018

 

 

1,216

 

 

 

970

 

 

 

2,186

 

2019

 

 

1,147

 

 

 

970

 

 

 

2,117

 

2020

 

 

1,147

 

 

 

970

 

 

 

2,117

 

2021

 

 

1,147

 

 

 

970

 

 

 

2,117

 

Thereafter

 

 

4,590

 

 

 

8,726

 

 

 

13,316

 

Total future amortization expense

 

$

11,318

 

 

$

14,061

 

 

$

25,379