Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

The following tables summarize the Company’s intangible assets (dollars in thousands):

	March 31, 2022
	Weighted average amortization period in years		Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible Assets
Amortizing intangible assets:
Customer Relationships		15	$	37,139	$	1,286	$	35,853
Trade Names		9		973		168		805
Developed Technology		4		1,502		694		808
Vendor Relationships		15		1,404		249		1,155
Database		5		2,400		150		2,250
Total intangible assets			$	43,418	$	2,547	$	40,871

	December 31, 2021
	Weighted average amortization period in years		Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible Assets
Amortizing intangible assets:
Customer Relationships		15	$	37,139	$	674	$	36,465
Trade Names		9		973		147		826
Developed Technology		4		1,502		605		897
Vendor Relationships		15		1,404		226		1,178
Database		5		2,400		30		2,370
Total intangible assets			$	43,418	$	1,682	$	41,736

Schedule of Carrying Amount of Goodwill

The following tables provides a roll forward of the carrying amount of goodwill (in thousands):

	2022				2021
Balance as of January 1:
Gross goodwill	$	257,746			$	3,907
Accumulated impairments		(3,074	)			(3,074	)
Net goodwill as of January 1,		254,672				833
Goodwill adjustment during the year		559		(1)		253,839
Net goodwill as of March 31, and December 31,	$	255,231			$	254,672

(1) See Note 7 - Acquisitions.

Schedule of Amortization Expense

Amortization expense for the three months ended March 31, 2022 and 2021 was as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Sales and marketing	$	774		25
Product development		89		40
General and administrative		2		3
Total	$	865	$	68