Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.22.1
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Summary of Acquired Intangible Assets

The following is a summary of the Company’s acquired intangible assets (dollars in thousands):

 

March 31, 2022

 

 

Weighted
average
amortization
period
(in years)

 

Gross
carrying
amount

 

Accumulated
amortization

 

Net
carrying amount

 

Market related intangibles

5

 

$

1,820

 

$

540

 

$

1,280

 

Customer relationships

7

 

 

13,780

 

 

5,015

 

 

8,765

 

Developed technologies

11

 

 

4,380

 

 

997

 

 

3,383

 

Covenants to non-compete

2

 

 

115

 

 

71

 

 

44

 

Total intangible assets, net

 

 

$

20,095

 

$

6,623

 

$

13,472

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

Weighted
average
amortization
period
(in years)

 

Gross
carrying
amount

 

Accumulated
amortization

 

Net
carrying amount

 

Market related intangibles

5

 

$

1,820

 

$

454

 

$

1,366

 

Customer relationships

7

 

 

13,780

 

 

4,447

 

 

9,333

 

Developed technologies

11

 

 

4,380

 

 

908

 

 

3,472

 

Covenants to non-compete

2

 

 

115

 

 

57

 

 

58

 

Total intangible assets, net

 

 

$

20,095

 

$

5,866

 

$

14,229

 

 

Schedule of Estimated Annual Amortization of Intangible Assets stimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table (in thousands):

 

Estimated future amortization

 

2022 (remaining nine months)

$

2,269

 

2023

 

2,969

 

2024

 

2,968

 

2025

 

2,958

 

2026

 

557

 

Thereafter

 

1,751

 

Total

$

13,472