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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Summaries of Goodwill and Intangible Assets

Summaries of goodwill and intangible assets balances as of December 31, 2021 and 2020 were as follows:

 

 

 

December 31,

 

 

Weighted-Average Amortization Period

2021

 

 

2020

 

 

 

(in thousands)

 

Goodwill

 

$

50,897

 

 

$

 

 

 

 

 

 

 

 

 

 

Royalty-free technology

10 Years

$

5,803

 

 

$

 

Less: accumulated amortization

 

 

(387

)

 

 

 

Royalty-free technology, net

 

 

5,416

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

12 Years

 

28,845

 

 

 

 

Less: accumulated amortization

 

 

(1,125

)

 

 

 

Customer relationships, net

 

 

27,720

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

10 Years

 

1,090

 

 

 

 

Less: accumulated amortization

 

 

(45

)

 

 

 

Trade name, net

 

 

1,045

 

 

 

 

 

 

 

 

 

 

 

 

 

Laboratory information system platform

5 Years

 

1,860

 

 

 

 

Less: accumulated amortization

 

 

(155

)

 

 

 

Laboratory information system platform, net

 

 

1,705

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchased patent

10 Years

 

31

 

 

 

 

Less: accumulated amortization

 

 

(3

)

 

 

 

Purchased patent, net

 

 

28

 

 

 

 

Total intangible assets, net

 

$

35,914

 

 

$

 

Summary of Annual Amortization Expense For Intangible Assets

Based on the carrying value of intangible assets recorded as of December 31, 2021, and assuming no subsequent impairment of the underlying assets, the annual amortization expense for intangible assets is expected to be as follows:

 

 

Amounts

 

 

(in thousands)

 

2022

$

3,615

 

2023

 

3,615

 

2024

 

3,615

 

2025

 

3,615

 

2026

 

3,292

 

Thereafter

 

18,162

 

Total

$

35,914