Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 4 - Intangible Assets

The following table presents the components of net intangible assets for our Collaboration Products reporting segment (in thousands):

	As of June 30, 2022						As of December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Lives
Developed technology	$	10,060	$	(5,544)	$	4,516	$	10,060	$	(4,537)	$	5,523	5 years
Trade names	2,410		(663)		1,747		2,410		(542)		1,868		10 years
Distributor relationships	310		(171)		139		310		(139)		171		5 years
Total	$	12,780	$	(6,378)	$	6,402	$	12,780	$	(5,218)	$	7,562

At each reporting period, we determine if there was a triggering event that may result in an impairment of our intangible assets. During the three and six months ended June 30, 2022, we considered the declines in revenue for the Collaboration Products reporting segment to be a triggering event for an impairment test of intangible assets for this reporting unit. Based on the corresponding recoverability tests of the intangible assets for this reporting unit, we determined no impairment changes were required for the three and six months ended June 30, 2022. The recoverability test consisted of comparing the estimated undiscounted cash flows expected to be generated by those assets to the respective carrying amounts, and involves significant judgements and assumptions, related primarily to the future revenue and profitability of the assets. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which range from five years to ten years in accordance with ASC Topic 350.

Related amortization expense was $580,000, $1,160,000, $613,000, and $1,224,000 for the three and six months ended June 30, 2022 and 2021, respectively.

Amortization expense for each of the next five succeeding years will be as follows (in thousands):

Remainder of 2022	$	1,158
2023	2,309
2024	1,791
2025	241
2026	241
Thereafter	662
Total	$	6,402