Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

8. Intangible Assets and Goodwill

Intangible assets acquired through business combinations

Intangible assets as of December 31, 2021 and 2020 consist of the following:
 

	Weighted Average Remaining Useful Life	December 31,
		2021			2020
		(in thousands)
Acquired technology	32 Months	$	17,569		$	18,383
Customer relationships	36 Months		2,450			50
Trade name	2 Months		20			20
Accumulated amortization			(9,474	)		(8,171	)
Total		$	10,565		$	10,282

The estimated useful life of acquired technology is two to seven years and estimated useful life of customer relationships is four to seven years. The Company evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Amortization expense related to intangible assets was $1.3 million in 2021, $2.6 million in 2020, and $3.2 million in 2019. Amortization expense of acquired technology is included in cost of subscription revenue and amortization expense of customer relationships is included in sales and marketing expense in the consolidated statements of operations.

Estimated future amortization expense for intangible assets as of December 31, 2021 is as follows:
 

Years ended December 31,	Amortization Expense
	(in thousands)
2022	$	1,644
2023		2,048
2024		2,331
2025		2,309
2026		1,890
Thereafter		343
Total	$	10,565

Goodwill

Goodwill represents the excess of the purchase price in a business combination over the fair value of net assets acquired and is generally not deductible for tax purposes. Goodwill amounts are not amortized, but rather tested for impairment annually.

The changes in the carrying amounts of goodwill consist of the following:
 

	(in thousands)
Balance as of December 31, 2019	$	30,250
Effect of foreign currency translation		1,431
Measurement period adjustments		(363	)
Balance as of December 31, 2020		31,318
The Hustle acquisition		16,987
Effect of foreign currency translation		(1,230	)
Balance as of December 31, 2021	$	47,075