Goodwill and Acquired Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

4. Goodwill and Acquired Intangible Assets

Goodwill is not amortized, but instead is reviewed for impairment at least annually or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. The Company considers its business to be one reporting unit for purposes of performing its goodwill impairment analysis. To date, the Company has had no impairments to goodwill.

There were no changes to goodwill for the three months ended March 31, 2023.

Acquired intangible assets consisted of the following (in thousands):

			March 31, 2023
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization			Carrying Value
	(in years)
Customer relationships		7.6	$	10,200	$	(3,678	)	$	6,522
Developed technology	3			1,700		(930	)		770
Other identifiable intangible assets		2.8		570		(424	)		146
			$	12,470	$	(5,032	)	$	7,438

			December 31, 2022
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization			Carrying Value
	(in years)
Customer relationships		7.6	$	10,200	$	(3,353	)	$	6,847
Developed technology	3			1,700		(786	)		914
Other identifiable intangible assets		2.8		570		(376	)		194
			$	12,470	$	(4,515	)	$	7,955

Future amortization expense of intangible assets as of March 31, 2023 is expected to be as follows (in thousands):

Year Ending December 31,
2023 (remaining nine months)	$	1,484
2024		1,715
2025		960
2026		685
2027		708
Thereafter		1,886
	$	7,438