GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill

As of December 31, 2022 and December 31, 2021, the Company has no goodwill. The Company determined the sustained decrease in share price in the fourth quarter of 2021, along with a significant decline to the equity value of the Company's peers, represented a goodwill impairment triggering event. The Company performed a quantitative analysis as of December 31, 2021 to determine if impairment to the Company's goodwill existed for the one reporting unit. A blended approach in calculating fair value of the one reporting unit included the income approach and market approach. This analysis resulted in full impairment of the Company's goodwill balance totaling $76,039 included in goodwill and asset impairments charges on the consolidated statements of operations for the year ended

December 31, 2021. The goodwill impairment was measured as the amount by which the carrying value of the reporting unit, including goodwill, exceeded its fair value.

Intangible Assets

Details of the Company’s intangible assets subject to amortization and indefinite-lived intangible assets and their respective carrying amounts are as follows:

	As of December 31, 2022
	Weighted-Average Remaining Useful Life (in years)	Gross		Accumulated Amortization		Net
Definite-lived intangible assets:	18.93	$	3,514	$	(1,893)	$	1,621
Indefinite-lived intangible assets:		150		—		150
Total		$	3,664	$	(1,893)	$	1,771

	As of December 31, 2021
	Weighted-Average Remaining Useful Life (in years)	Gross		Accumulated Amortization		Net
Definite-lived intangibles assets(1) :	20.04	$	5,059	$	(2,366)	$	2,693
Indefinite lived intangible assets:	—	150		—		150
Total		$	5,209	$	(2,366)	$	2,843

(1) The factors listed above representing a goodwill triggering event also indicated a triggering event for the Company's customer relationships and trade name intangible assets acquired with the acquisition of Abacus. The Company performed a quantitative analysis as of December 31, 2021 to determine if impairment existed by comparing the carrying amount of each asset to the future undiscounted cash flows the asset is expected to generate over their remaining lives. This analysis resulted in full impairment of the customer relationships and trade name intangible assets acquired and total an impairment loss of $19,750 was recorded in goodwill and asset impairments charges on the consolidated statements of operations for the year ended December 31, 2021.

For the years ended December 31, 2022 and December 31, 2021, amortization expense of intangible assets of $1,228 and $3,544, respectively, was recorded in Selling, general, and administrative expense in the consolidated statements of operations.

As of December 31, 2022, expected amortization of intangible assets is as follows:

Year Ending December 31:
2023	$	848
2024	140
2025	115
2026	18
2027	18
Thereafter	190
Total future amortization	$	1,329