Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net

Intangible Assets, Net

Note 8 – Intangible Assets, Net

Intangible assets, net, consisted of the following as of December 31, 2022:

	December 31, 2022
							Remaining
							Weighted
	Gross				Net		Average
	Carrying		Accumulated		Carrying		Amortization
(in thousands)	Amount		Amortization		Value		Period
Site Host relationships	$	41,500	$	(10,236)	$	31,264	9.1 years
Customer relationships		19,000		(12,090)		6,910	1.8 years
Developed technology		14,000		(2,653)		11,347	11.5 years
User base		11,000		(4,058)		6,942	2.6 years
Trade name		5,000		(851)		4,149	13.5 years
	$	90,500	$	(29,888)	$	60,612

Intangible assets, net, consisted of the following as of December 31, 2021:

	December 31, 2021
							Remaining
							Weighted
	Gross				Net		Average
	Carrying		Accumulated		Carrying		Amortization
(in thousands)	Amount		Amortization		Value		Period
Site Host relationships	$	41,500	$	(6,777)	$	34,723	10.1 years
Customer relationships		19,000		(8,005)		10,995	3.2 years
Developed technology		14,000		(1,646)		12,354	12.5 years
User base		11,000		(1,309)		9,691	3.6 years
Trade name		5,000		(536)		4,464	14.5 years
	$	90,500	$	(18,273)	$	72,227

Amortization of intangible assets was $11.6 million and $10.2 million for the years ended December 31, 2022 and 2021, respectively. As of December 31, 2022, the aggregate future amortization of amortizable intangible assets for the following years ending December 31, were as follows:

	Site Host		Customer		Developed		User		Trade
(in thousands)	Relationships		Relationships		Technology		Base		Name		Total
2023	$	3,458	$	4,085	$	1,007	$	2,750	$	315	$	11,615
2024		3,458		2,717		1,007		2,750		315		10,247
2025		3,458		108		1,007		1,442		315		6,330
2026		3,458		—		1,007		—		315		4,780
2027		3,458		—		1,007		—		315		4,780
Thereafter		13,974		—		6,312		—		2,574		22,860
	$	31,264	$	6,910	$	11,347	$	6,942	$	4,149	$	60,612