Intangibles, net

12 Months Ended

Apr. 30, 2022

Intangibles, net

Intangibles, net

6.           Intangibles, net

The components of intangibles are as follows (in thousands):

	April 30,		April 30,
	2022		2021
Technology	$	56,913	$	46,850
Licenses		1,008		1,008
Customer relationships		72,448		68,073
Backlog		2,100		—
In-process research and development		550		550
Non-compete agreements		320		320
Trademarks and tradenames		68		68
Other		144		3
Intangibles, gross		133,551		116,872
Less accumulated amortization		(36,327)		(10,604)
Intangibles, net	$	97,224	$	106,268

The Company tests identifiable intangible assets and goodwill for impairment in the fourth quarter of each fiscal year unless there are interim indicators that suggest that it is more likely than not that either the identifiable intangible assets or goodwill may be impaired. The weighted average amortization period at April 30, 2022 and 2021 was four years and five years, respectively. Amortization expense for the years ended April 30, 2022, 2021 and 2020 was $26,558,000, $6,469,000 and $2,822,000, respectively.

Technology, backlog and customer relationship intangible assets were recognized in conjunction with the Company’s acquisition of Telerob on May 3, 2021. Technology and customer relationship intangible assets were recognized in conjunction with the Company’s acquisition of Arcturus on February 19, 2021. Technology and customer relationship intangible assets were recognized in conjunction with the Company’s acquisition of ISG on February 23, 2021. Technology, in-process research and development, customer relationships, trademarks and tradenames, and non-compete agreements were recognized in conjunction with the Company’s acquisition of Pulse on June 10, 2019. Refer to Note 21 - Business Combinations for further details.

Estimated amortization expense for the next five years is as follows (in thousands):

	Year ending
	April 30,
2023	$	27,760
2024		26,870
2025		18,156
2026		13,114
2027		2,485
	$	88,385