Goodwill and Acquired Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

4. Goodwill and Acquired Intangible Assets

The carrying amount of goodwill was $9.8 million as of December 31, 2020 related to goodwill from the Company’s acquisition of Crosspointe. Goodwill is not amortized, but instead

reviewed for impairment at least annually or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. The Company considers its business to be one reporting unit for purposes of performing its goodwill impairment analysis. To date, the Company has had no impairments to goodwill.

Acquired intangible assets consisted of the following (in thousands):


		December 31, 2020
	Weighted Average Useful Life	Gross Amount		Accumulated Amortization			Carrying Value
	(in years)
Customer relationships	5	$	3,600	$	(464	)	$	3,136
Other identifiable intangible assets	3.7		270		(40	)		230

		$	3,870	$	(504	)	$	3,366

Future amortization expense of the intangible assets as of December 31, 2020, is expected to be as follows (in thousands):


Year Ending December 31,
2021	$	1,182
2022		826
2023		609
2024		440
2025		309

	$	3,366