Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

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

	June 30, 2022
	Weighted average amortization period in years		Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible Assets
Amortizing intangible assets:
Customer Relationships		15	$	36,652	$	1,412	$	35,240
Trade Names		10		841		56		785
Developed Technology		4		1,177		557		620
Vendor Relationships		15		1,404		272		1,132
Database		5		2,400		270		2,130
In-place Lease Intangible Asset		4		548		76		472
Above Market Lease Intangible Asset		4		896		128		768
Total intangible assets			$	43,918	$	2,771	$	41,147

	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		5,299		(1)		253,839
Net goodwill as of June 30, 2022, and December 31, 2021	$	259,971			$	254,672

(1) See Note 7 - Acquisitions.

Schedule of Amortization Expense

Amortization expense for the three and six months ended June 30, 2022 and 2021 was as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Sales and marketing	$	776		24	$	1,550		50
Product development		82		40		171		79
General and administrative		206		2		208		6
Total	$	1,064	$	66	$	1,929	$	135