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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Changes to Carrying Amount of Goodwill

Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The changes to the carrying amount of goodwill as follows:

(in thousands)

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2020

 

$

 

Goodwill acquired

 

$

42,432

 

Balance as of December 31, 2021

 

$

42,432

 

Schedule of Definite-lived Intangible Assets

Definite-lived intangible assets consists of the following:

 

(in thousands)

 

December 31, 2021

 

 

December 31, 2020

 

 

Weighted average remaining useful life as of December 31, 2021 (in years)

 

 

 

Gross amount

 

 

Accumulated amortization

 

 

Net carrying amount

 

 

Gross amount

 

 

Accumulated amortization

 

 

Net carrying amount

 

 

 

 

 

Developed technology

 

$

12,937

 

 

$

(1,294

)

 

$

11,643

 

 

$

 

 

$

 

 

$

 

 

 

3.5

 

Customer relationship

 

$

22,525

 

 

$

(1,749

)

 

$

20,776

 

 

$

 

 

$

 

 

$

 

 

 

5.3

 

Trade name

 

$

2,470

 

 

$

(217

)

 

$

2,253

 

 

$

 

 

$

 

 

$

 

 

 

4.6

 

Non-compete agreement

 

$

162

 

 

$

(24

)

 

$

138

 

 

$

 

 

$

 

 

$

 

 

 

2.6

 

Other intangibles

 

$

285

 

 

$

(63

)

 

$

222

 

 

$

 

 

$

 

 

$

 

 

 

2.3

 

Total definite-lived intangible

 

$

38,379

 

 

$

(3,347

)

 

$

35,032

 

 

$

 

 

$

 

 

$

 

 

 

 

 

Schedule of Expected Amortization Expense for Definite-lived Intangible Assets

As of December 31, 2021, expected amortization expense for definite-lived intangible assets was as follows:

(in thousands)

 

December 31, 2021

 

 

 

 

 

 

2022

 

 

8,005

 

2023

 

 

7,958

 

2024

 

 

7,823

 

2025

 

 

6,134

 

2026

 

 

3,395

 

Thereafter

 

 

1,717

 

Total

 

$

35,032