Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

Goodwill

Changes in the carrying amount of goodwill for the six months ended June 30, 2022 was as follows:

(In thousands)	Amounts
Balance at December 31, 2021	$	—
Acquisitions		70,861
Balance at June 30, 2022	$	70,861

There was no impairment of goodwill recorded during the six months ended June 30, 2022 and 2021.

Acquired Intangible Assets

Acquired intangible assets, net consisted of the following:

	June 30, 2022
(In thousands)	Gross Carry Amount		Accumulated Amortization		Net Carry Amount		Weighted Average Remaining Useful Life (in years)
Trade name and trademarks	$	1,000	$	28	$	972		5.8
Developed technology		9,600		323		9,277		4.8
Customer relationships		10,700		223		10,477		8.8
Total	$	21,300	$	574	$	20,726

The Company recorded $0.6 million of amortization expense during the three and six months ended June 30, 2022, which was recorded as intangible amortization expense in the condensed consolidated statement of operations. There was no amortization expense during the three and six months ended June 30, 2021. There was no impairment of intangible assets recorded for the six months ended June 30, 2022 and 2021.

As of June 30, 2022, future amortization expense related to acquired intangible assets was as follows:

(In thousands)	Amortization Expense
2022	$	1,638
2023		3,276
2024		3,276
2025		3,276
2026		3,276
2027 and thereafter		5,984
Total	$	20,726