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Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

2. Goodwill and Intangible Assets

The change in the carrying amount of goodwill for the three months ended March 31, 2022 was as follows (in thousands):


Balance as of January 1, 2022	$	2,143
Foreign currency translation adjustment		(1)
Balance as of March 31, 2022	$	2,142

The fair value measurement of goodwill for the Agility segment was classified within Level 3 of the fair value hierarchy because the Company used the income approach, which utilizes significant inputs that are unobservable in the market and the market multiple approach which utilizes comparable entities to further validate the carrying values. The Company believes it made reasonable

estimates and assumptions to calculate the fair value of the reporting unit as of the impairment test measurement date. The carrying value of Goodwill was $2.1 million as of March 31, 2022, and December 31, 2021.

Information regarding the Company acquired intangible assets and capitalized developed software was as follows (in thousands):


	Company Acquired Intangible Assets										Capitalized Developed Software
													Capitalized
					Trademarks				Media		Capitalized		Developed
	Developed		Customer		and				Contact		Developed		Software - in
	technology		relationships		tradenames		Patents		Database		Software		Progress		Total
Gross carrying amounts:
Balance as of January 1, 2022	$	3,169	$	2,228	$	880	$	45	$	3,648	$	8,576	$	635	$	19,181
Additions		-		-		-		-		-		-		1,389		1,389
Transfers		-		-		-		-		-		1,265		(1,265)		-
Foreign currency translation		24		36		1		1		(44)		130		(1)		147
Balance as of March 31, 2022	$	3,193	$	2,264	$	881	$	46	$	3,604	$	9,971	$	758	$	20,717

Accumulated amortization:
Balance as of January 1, 2022	$	2,158	$	1,377	$	685	$	34	$	2,005	$	2,575	$	-	$	8,834
Amortization expense		79		47		14		1		91		365		-		597
Foreign currency translation		20		22		1		-		(23)		38		-		58
Balance as of March 31, 2022	$	2,257	$	1,446	$	700	$	35	$	2,073	$	2,978	$	-	$	9,489

Net carrying values - March 31, 2022	$	936	$	818	$	181	$	11	$	1,531	$	6,993	$	758	$	11,228

Amortization expense relating to acquired intangible assets was $0.2 million for the three months ended March 31, 2022.

Amortization expense relating to capitalized developed software was $0.4 million for the three months ended March 31, 2022.

As of March 31, 2022, estimated future amortization expense for intangible assets was as follows (in thousands):


Year	Amortization
2022	$	2,199
2023		2,630
2024		2,228
2025		1,456
2026		812
Thereafter		1,903
	$	11,228