INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

8. INTANGIBLE ASSETS, NET

Table 8.1: Details of Intangible Assets, Net
	Estimated useful life	As of December 31, 2022						As of December 31, 2021
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
		(in thousands)
Acquired technology	8 years	$	3,630	$	(643)	$	2,987	$	3,630	$	(256)	$	3,374
Customer relationships	3 years	40		(19)		21		40		(5)		35
Software development costs	2 - 5 years	35,080		(7,793)		27,287		22,222		(6,432)		15,790
Subtotal		38,750		(8,455)		30,295		25,892		(6,693)		19,199
Software held for resale (1)		7,120		—		7,120		—		—		—
Total		$	45,870	$	(8,455)	$	37,415	$	25,892	$	(6,693)	$	19,199

(1) This amount is net of $0.7 million charged into cost of sales.

Amortization expense related to capitalized software development costs was $1.4 million, $1.6 million, and $1.7 million for the years ended December 31, 2022, 2021, and 2020, respectively.

Amortization expense related to other intangible assets was $0.4 million, and $0.3 million for the years ended December 31, 2022, and 2021, respectively. No other intangible assets reported prior to the acquisition in 2021, see Note 10 – Acquisition for further details.

The Company did not recognize any impairment charges on intangible assets for the periods presented.

Table 8.2: Estimated Future Amortization Expense of Intangible Assets, Net
	As of December 31, 2022
	(in thousands)
Year Ending December 31, 2023	$	6,046
Year Ending December 31, 2024	7,757
Year Ending December 31, 2025	5,699
Year Ending December 31, 2026	4,699
Year Ending December 31, 2027	3,936
Thereafter	2,158
Total	$	30,295

Actual amortization expense in future periods could differ from these estimates as a result of impairments, timing of completion of in-process software development projects, future releases and other factors.