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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

4.Goodwill and Intangible Assets

The change in the carrying amount of goodwill for the six months ended June 30, 2024 was as follows (in thousands):


Balance - January 1, 2024	$	2,075
Foreign currency translation adjustment		(31)
Balance - June 30, 2024	$	2,044

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 using 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 $2.0 million and $2.1 million as of June 30, 2024 and December 31, 2023, respectively.

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


	June 30, 2024
					Foreign
	Gross				Currency		Net
	Carrying		Accumulated		Translation		Carrying
	Value		Amortization		Adjustment		Value
Acquired Intangible Assets
Developed technology	$	3,060	$	(2,845)	$	(3)	$	212
Customer relationships		2,144		(1,770)		(16)		358
Trademarks and tradenames		862		(809)		-		53
Patents		44		(43)		-		1
Media Contact Database		3,546		(2,837)		-		709
Total Acquired Intangible Assets	$	9,656	$	(8,304)	$	(19)	$	1,333

Capitalized Developed Software
Capitalized Developed Software	$	18,504	$	(8,557)	$	(206)	$	9,741
Capitalized Developed Software - in Progress		2,840		-		(4)		2,836
Total Capitalized Developed Software	$	21,344	$	(8,557)	$	(210)	$	12,577

Total	$	31,000	$	(16,861)	$	(229)	$	13,910


	December 31, 2023
					Foreign
	Gross				Currency		Net
	Carrying		Accumulated		Translation		Carrying
	Value		Amortization		Adjustment		Value
Acquired Intangible Assets
Developed technology	$	2,999	$	(2,640)	$	7	$	366
Customer relationships		2,096		(1,645)		10		461
Trademarks and tradenames		852		(774)		2		80
Patents		43		(40)		-		3
Media Contact Database		3,492		(2,621)		16		887
Total Acquired Intangible Assets	$	9,482	$	(7,720)	$	35	$	1,797

Capitalized Developed Software
Capitalized Developed Software	$	15,216	$	(6,862)	$	138	$	8,492
Capitalized Developed Software - in Progress		3,480		-		(11)		3,469
Total Capitalized Developed Software	$	18,696	$	(6,862)	$	127	$	11,961

Total	$	28,178	$	(14,582)	$	162	$	13,758

Amortization expense relating to acquired intangible assets was $0.2 million for each of the three-month periods ended June 30, 2024 and 2023. Amortization expense relating to acquired intangible assets was $0.4 million for each of the six-month periods ended June 30, 2024 and 2023.

Amortization expense relating to capitalized developed software was $0.8 million and $0.6 million for the three-month periods ended June 30, 2024 and 2023. Amortization expense relating to capitalized developed software was $1.6 million and $1.2 million for the six-month periods ended June 30, 2024 and 2023.

As of June 30, 2024, estimated future amortization expense for intangible assets was as follows (in thousands):


Year	Amortization
2024	$	3,222
2025		4,714
2026		3,446
2027		1,168
2028		688
Thereafter		672
	$	13,910