Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The Company has recorded goodwill and other indefinite-lived assets in connection with its acquisition of Systat, GTX Nanotron, Locality, Jibestream, CXApp, Game Your Game, and IntraNav. Goodwill, which represents the excess of acquisition cost over the fair value of the net tangible and intangible assets of the acquired company, is not amortized. Indefinite-lived intangible assets are stated at fair value as of the date acquired in a business combination. The Company’s goodwill balance and other assets with indefinite lives were evaluated for potential impairment on a reporting unit level during the years ended December 31, 2021 and 2020, as certain indications on a qualitative and quantitative basis were identified that an impairment exists as of the reporting date as of December 31, 2021.

During the year ended December 31, 2021, the Company recognized approximately $14.8 million of goodwill impairment on GTX, Nanontron, Locality, Jibestream, CXApp, Game Your Game and IntraNav. During the year ended December 31, 2020, the Company did not recognize any goodwill impairment. The Company utilized qualitative factors in determining if the carrying amounts of the Company’s reporting units exceeded the fair value of the Company, and noted that no such factors indicated impairment on any of its goodwill.

The following table summarizes the changes in the carrying amount of Goodwill for the year ended December 31, 2021 (in thousands):

Segments	Saves		Indoor Intelligence
Acquisition	Systat		GTX		Nanotron		Locality		Jibestream		CXApp		Game Your Game		IntraNav		Total
Balance as of January 1, 2020	$	—	$	—	$	—	$	672	$	1,398	$	—	$	—	$	—	$	2,070
Goodwill additions through acquisitions	520		2		3,755		—		15		—		—		—		4,292
Exchange rate fluctuation at December 31, 2020	—		—		176		—		50		—		—		—		226
Balance as of January 1, 2021	$	520	$	2	$	3,931	$	672	$	1,463	$	—	$	—	$	—	$	6,588
Goodwill additions through acquisitions	200		—		—		—		—		17,432		286		482		18,400
Goodwill impairment	—		(1)		(2,263)		(689)		(967)		(10,239)		(307)		(323)		(14,789)
Valuation Measurement Period Adjustments	(25)		—		(255)		—		—		(2,127)		173		—		(2,234)
Exchange rate fluctuation at December 31, 2021	—		—		(294)		17		(16)		—		—		—		(293)
Balance as of December 31, 2021	$	695	$	1	$	1,119	$	—	$	480	$	5,066	$	152	$	159	$	7,672

As of December 31, 2021 and 2020 there was no goodwill allocated for the Shoom segment.

Intangible assets at December 31, 2021 and 2020 consisted of the following (in thousands):

	Gross Carrying Amount December 31,				Accumulated Amortization December 31,				Remaining Weighted Average Useful Life
	2021		2020		2021		2020
IP Agreement	$	172	$	186	$	(54)	$	(12)	2.75
Trade Name/Trademarks	$	3,602	$	1,112	$	(662)	$	(854)	4.25
Webstores & Websites	404		—		(123)		—		2.08
Customer Relationships	9,294		5,590		(1,440)		(2,972)		5.74
Developed Technology	22,175		26,216		(3,010)		(16,646)		8.45
Non-compete Agreements	4,786		2,485		(1,666)		(902)		2.44
Totals	$	40,433	$	35,589	$	(6,955)	$	(21,386)

Aggregate Amortization Expense:

Aggregate amortization expense for the years ended December 31, 2021 and 2020 were $5.1 million and $2.5 million, respectively. 

Future amortization expense on intangibles assets is anticipated to be as follows (in thousands):

For the Years Ending December 31,	Amount
2022	6,144
2023	5,994
2024	5,038
2025	4,405
2026 and thereafter	11,897
Total	$	33,478