Intangible Assets, Net

6 Months Ended

Jun. 30, 2023

Intangible Assets, Net (Excluding Goodwill) [Abstract]

3. Intangible assets, net

Intangible assets other than goodwill consist of the following:


		June 30, 2023							December 31, 2022
(In thousands)	Amortization period	Gross amount		Accumulated amortization			Net		Gross amount		Accumulated amortization			Net
Software developed for internal use	5-10 years	$	58,059	$	(24,884	)	$	33,175	$	52,678	$	(21,031	)	$	31,647

The gross amount associated with software developed for internal use represents capitalized costs of internally-developed software, including eligible salaries and staff benefits, share-based compensation, travel expenses incurred by relevant employees, and other relevant costs.

Amortization expenses of $1,995 and $1,551 for the three months ended June 30, 2023 and 2022, respectively, and $3,853 and $3,023 for the six months ended June 30, 2023 and 2022, respectively, were included in depreciation and amortization expense. As of June 30, 2023, intangible assets of $4,956, included in the gross amounts of software developed for internal use, have not started amortization, as they are not ready for their intended use.

The Company capitalized costs of software developed for internal use of $2,649 and $2,521 during the three months ended June 30, 2023 and 2022, respectively, and $5,381 and $4,616 during the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023, estimated amortization expense related to the Company’s intangible assets for the remainder of 2023 through 2028 and thereafter are as follows:


(In thousands)
Year	June 30, 2023
Remainder of 2023		4,107
2024		8,462
2025		7,296
2026		5,843
2027		4,228
2028 and thereafter		3,239
Total	$	33,175