Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

During the year ended December 31, 2021, the Company purchased a domain name for $2,202. The purchase of the domain name created an intangible asset with an indefinite life that is not being amortized for book purposes.

There were no changes in the recorded balance of goodwill during the six months ended June 30, 2022. In-process research and development assets were acquired in business combinations, and launched in September 2021. The Company started to amortize the assets in September 2021 using the straight-line method over the estimated useful lives determined as 5 years.

The components of intangible assets and accumulated amortization are as follows:

	As of June 30, 2022
	Weighted Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Developed technology	2.5 years	$	13,200	$	(6,643)	$	6,557
Customer relationships	6.5 years	7,501		(2,165)		5,336
Trade name	0.0 years	320		(320)		—
Launched IPR&D assets	4.2 years	960		(144)		816
Total finite-lived intangible assets		$	21,981	$	(9,272)	$	12,709
Indefinite-lived intangible assets:
Trade name – website domain (forge.com)	Indefinite	2,202		—		2,202
Total indefinite-lived intangible assets		2,202		—		2,202
Total intangible assets		$	24,183	$	(9,272)	$	14,911

	As of December 31, 2021
	Weighted Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Developed technology	3.0 years	$	13,200	$	(5,250)	$	7,950
Customer relationships	7.0 years	7,410		(1,696)		5,714
Trade name	0.0 years	320		(320)		—
Launched IPR&D assets	5.0 years	960		—		960
Total finite-lived intangible assets		$	21,890	$	(7,266)	$	14,624
Indefinite-lived intangible assets:
Trade name – website domain (forge.com)	Indefinite	2,202		—		2,202
Total indefinite-lived intangible assets		2,202		—		2,202
Total intangible assets		$	24,092	$	(7,266)	$	16,826

Amortization expense related to finite-lived intangible assets was included in depreciation and amortization in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2022 and 2021. Amortization expense related to finite-lived intangible assets for the three and six months ended June 30, 2022 was $1,075 and $2,006, respectively. Amortization expense related to finite-lived intangible assets for the three and six months ended June 30, 2021 was $1,248 and $2,496, respectively.

The table below presents estimated future amortization expense for finite-lived intangible assets as of June 30, 2022:

	Amount
Remainder of 2022	$	1,993
2023	3,969
2024	3,454
2025	802
2026	754
Thereafter	1,737
Total	$	12,709