GOODWILL AND INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 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 nine months ended September 30, 2022:

	December 31,		Goodwill	Translation	September 30,
	2021		Acquired	Adjustments	2022
Total goodwill	$	21,127	—	(2,888)	$	18,239

Intangible assets, net

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

	September 30,		December 31,
	2022		2021
Internal use software	$	67,245	$	55,164
Developed technology		13,173		15,259
Intangible assets		80,418		70,423
Accumulated amortization		(40,052)		(32,894)
Intangible assets, net	$	40,366	$	37,529

Amortization expense for the three months ended September 30, 2022 and 2021 were $3,203 and $2,721 respectively, and $8,758 and $8,194 for the nine months ended September 30, 2022 and 2021, respectively. During the three months ended September 2022 and 2021 the Company recognized impairment of internal use of software in the amount of $614 and $0, respectively, and during the nine months ended September 30, 2022 and 2021, the Company recognized impairment of internal use of software in the amount of $614 and $114, respectively, due to the abandonment of specific projects.