GOODWILL AND INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2022

GOODWILL AND INTANGIBLE ASSETS, NET

GOODWILL AND INTANGIBLE ASSETS, NET

NOTE 5 – GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The following table presents goodwill balances and adjustments to those balances during the six months ended June 30, 2022:

	December 31,		Goodwill	Translation	June 30,
	2021		Acquired	Adjustments	2022
Total goodwill	$	21,127	—	(1,647)	$	19,480

Intangible assets, net

Composition of intangible assets, grouped by major classifications, is as follows:

	June 30,		December 31,
	2022		2021
Internal use software	$	63,298	$	55,164
Developed technology		14,069		15,259
Intangible assets		77,367		70,423
Accumulated amortization		(37,561)		(32,894)
Intangible assets, net	$	39,806	$	37,529

Amortization expense for the three months ended June 30, 2022 and 2021 were $3,016 and $2,669 respectively, and $5,555 and $5,473 for the six months ended June 30, 2022 and 2021, respectively. No impairment was recognized during the three and six months ended June 30, 2022. During the three and six months ended June 30, 2021 the Company recognized impairment of internal use of software in the amount of $114, due to the abandonment of specific projects.