Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The Company reviews goodwill for impairment on a reporting unit basis on December 31 of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. The Company’s significant assumptions in these analyses include, but are not limited to, project revenue, the weighted average cost of capital, the terminal growth rate, derived multiples from comparable market transactions and other market data.

As of September 30, 2023, the Company's cumulative impairment charges are approximately $13.5 million with approximately $11.6 million related to the Indoor Intelligence reporting unit, approximately $1.2 million related to the Shoom reporting unit and approximately $0.7 million related to the SAVES reporting unit. There is no unimpaired goodwill as of September 30, 2023 or December 31, 2022.

Intangibles assets at September 30, 2023 and December 31, 2022 consisted of the following (in thousands):


	September 30, 2023
	Gross Amount, net of impairment		Accumulated Amortization		Spin-Off		Net Carrying Amount		Remaining Weighted Average Useful Life
IP Agreement	$	160	$	(120)	$	—	$	40	1.00
Trade Name/Trademarks	1,786		(319)		(1,367)		100		3.25

Customer Relationships	6,169		(945)		(4,454)		770		2.05
Developed Technology	14,722		(1,862)		(11,466)		1,394		4.59
Non-compete Agreements	1,821		(617)		(1,204)		—		0.00
Totals	$	24,658	$	(3,863)	$	(18,491)	$	2,304

	December 31, 2022
	Gross Amount		Accumulated Amortization		Impairment		Discontinued Operations		Net Carrying Value
IP Agreement	$	162	$	(91)	$	—	$	—	$	71
Trade Name/Trademarks	3,590		(1,414)		(593)		(1,458)		125
Customer Relationships	9,121		(2,776)		(749)		(4,636)		960
Developed Technology	21,777		(5,385)		(2,921)		(11,781)		1,690
Non-compete Agreements	4,270		(2,488)		(220)		(1,414)		148
Totals	$	38,920	$	(12,154)	$	(4,483)	$	(19,289)	$	2,994

Amortization Expense:

Amortization expense from continuing operations for the three and nine months ended September 30, 2023 was approximately $0.2 million and $0.7 million, respectively, and for the three and nine months ended September 30, 2022 was approximately $0.4 million and $1.1 million respectively.

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


	Amount
December 31, 2023 (for 3 months)	$	170
December 31, 2024	671
December 31, 2025	591
December 31, 2026	403
December 31, 2027	319
December 31, 2028 and thereafter	150
	$	2,304