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Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The table below summarizes the Company’s intangible assets at December 31, 2022 and 2021 (in thousands):
Useful
 Lives
(Years)
Weighted Average Remaining
 Life (Years)
December 31, 2022
Intangible AssetsAccumulated AmortizationNet Balance
Customer relationships21.2$32,433 $(28,421)$4,012 
Trade names
2-9
6.238,837 (12,018)26,819 
Software and technology
3-9
5.8200,222 (59,221)141,001 
Total$271,492 $(99,660)$171,832 
Useful
 Lives
(Years)
Weighted Average Remaining
 Life (Years)
December 31, 2021
Intangible AssetsAccumulated Amortization Net Balance
Customer relationships22.2$32,965 $(21,105)$11,860 
Tradenames
2-9
7.238,876 (7,455)31,421 
Software and technology
3-9
8.7195,852 (35,572)160,280 
Total$267,693 $(64,132)$203,561 
Finite-lived Intangible Assets Amortization Expense
The estimated future amortization expense associated with intangible assets is as follows (in thousands):
Future Amortization
202335,775 
202430,283 
202525,729 
202624,651 
202724,651 
Thereafter30,743 
Total$171,832 
Schedule of Goodwill
The following table is a summary of the changes to goodwill for the years ended December 31, 2022 and 2021 (in thousands):
December 31,
20222021
Beginning balance$619,587 $478,406 
Molotov acquisition(497)128,468 
Edisn acquisition— 12,501 
Foreign currency translation(584)212 
Ending balance$618,506 $619,587 
Fair Value Measurement Inputs and Valuation Techniques Significant inputs into the valuation models included the control premium, discount rate, and revenue market multiples as follows:
December 31, 2022
Control premium35%
Discount rate31%
Revenue multiples
0.34x - 0.52x
The Company used a Black-Scholes model to estimate the fair value of the warrant liabilities at December 31, 2021 using the following inputs:
December 31, 2021
Fair value of underlying common shares$15.52 
Exercise price$9.25 
Expected dividend yield— %
Expected volatility
50.9% - 52.8%
Weighted average expected volatility52.7 %
Risk free interest rate
0.06% - 0.06%
Weighted average risk-free interest rate0.06 %
Expected term (years)
0.14 - 0.15
Weighted average expected term (years)0.14