Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill and indefinite-lived intangible assets are not amortized but are reviewed annually for impairment or more frequently if impairment indicators arise. The Company did not have any intangible assets with indefinite lives other than goodwill as of June 30, 2022 or December 31, 2021. There were no indications of impairment as of June 30, 2022, and the Company believes that, as of the balance sheet dates presented, none of the Company’s goodwill or intangible assets were impaired.

The following table summarizes the Company’s intangible assets, net:

		June 30, 2022
	Estimated Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer, affiliate and advertiser relationships	5-19	$	82,628	$	(13,935	)	$	68,693
Developed websites, technology and patents	10		31,809		(5,695	)		26,114
Trademark, trade name and domain name	5-16		7,398		(2,513	)		4,885
Proprietary user information database and internet traffic	5		1,081		(1,081	)		—
Non-compete agreements	1.5-3		600		(249	)		351
Total intangible assets		$	123,516	$	(23,473	)	$	100,043

		December 31, 2021
	Estimated Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer, affiliate and advertiser relationships	5-19	$	85,663	$	(11,695	)	$	73,968
Developed websites, technology and patents	10		34,939		(4,509	)		30,430
Trademark, trade name and domain name	5-16		7,913		(2,355	)		5,558
Proprietary user information database and internet traffic	5		1,133		(1,133	)		—
Non-compete agreements	1.5-3		600		(166	)		434
Total intangible assets		$	130,248	$	(19,858	)	$	110,390

Intangible assets are amortized over their estimated useful lives, which range from eighteen months to nineteen years, using methods of amortization that are expected to reflect the estimated pattern of economic use. The remaining amortization expense will be recognized over a weighted-average period of approximately 6.7 years. Amortization expense was $4.6 million and $4.3 million for the six months ended June 30, 2022 and 2021, respectively. Amortization expense relating to developed websites, technology and patents is recorded within costs of revenues. All other amortization is recorded within operating expenses as the remaining intangible assets consist of customer-related assets which generate website traffic that the Company considers to be in support of selling and marketing activities. The Company did not write off any fully amortized intangible assets in the first six months of 2022.

The Company expects amortization expense of intangible assets to be as follows:

Years Ending December 31:	Amortization Expense
2022 (July 1 – December 31)	$	4,395
2023		8,641
2024		8,610
2025		8,572
2026		8,518
Thereafter		61,307
Total	$	100,043