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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill is recorded when the purchase price of an acquisition exceeds the fair value of the net tangible and identified intangible assets acquired. Goodwill is tested annually for impairment at the reporting unit level during the fourth quarter or earlier upon the occurrence of certain events or substantive changes in circumstances. There were no indicators of impairment in the three months ended March 31, 2021. The balance of the Company's goodwill as of March 31, 2021 and December 31, 2020 was $26.1 million and $23.9 million, respectively. Intangible Assets The following tables present details of the Company’s intangible assets as of March 31, 2021 ($ in thousands):
| March 31, 2021
| Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation |  | Net Carrying Amount |  | Weighted Average Remaining Useful Life (In Years)
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |
Acquired and developed technology | $ | 33,569 |  |  | $ | (9,692) |  |  | $ | (1,262) |  |  | $ | 22,615 |  |  | 9.0
Customer relationships | 19,308 |  |  | (5,015) |  |  | (953) |  |  | 13,340 |  |  | 10.6
Commercialization rights | 8,079 |  |  | (1,241) |  |  | — |  |  | 6,838 |  |  | 8.4
Trademarks and tradenames | 2,380 |  |  | (856) |  |  | (110) |  |  | 1,414 |  |  | 9.6
Total intangible assets with finite lives | $ | 63,336 |  |  | $ | (16,804) |  |  | $ | (2,325) |  |  | $ | 44,207 |  |  |
Acquired in-process technology | 1,250 |  |  | — |  |  | — |  |  | 1,250 |  |  |
Total intangible assets | $ | 64,586 |  |  | $ | (16,804) |  |  | $ | (2,325) |  |  | $ | 45,457 |  |  |
The following table presents details of the Company’s intangible assets as of December 31, 2020 ($ in thousands):
| December 31, 2020
| Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation |  | Net Carrying Amount |  | Weighted Average Remaining Useful Life (In Years)
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |
Acquired and developed technology | $ | 31,209 |  |  | $ | (8,991) |  |  | $ | (725) |  |  | $ | 21,493 |  |  | 9.1
Customer relationships | 18,168 |  |  | (4,684) |  |  | (449) |  |  | 13,035 |  |  | 10.9
Commercialization rights | 8,079 |  |  | (1,039) |  |  | — |  |  | 7,040 |  |  | 8.7
Trademarks and tradenames | 2,360 |  |  | (804) |  |  | (19) |  |  | 1,537 |  |  | 9.9
Total intangible assets with finite lives | $ | 59,816 |  |  | $ | (15,518) |  |  | $ | (1,193) |  |  | $ | 43,105 |  |  |
Acquired in-process technology | 1,250 |  |  | — |  |  | — |  |  | 1,250 |  |  |
Total intangible assets | $ | 61,066 |  |  | $ | (15,518) |  |  | $ | (1,193) |  |  | $ | 44,355 |  |  |
Acquisition of Intangible Assets In June 2020, the Company commercially launched AlloSeq HCT, a NGS solution for chimerism testing for stem cell transplant recipients. This technology has the potential to provide better sensitivity and data analysis compared to current solutions on the market. AlloSeq HCT is included in Acquired and developed technology as of December 31, 2020 and March 31, 2021. Amortization of Intangible Assets Amortization expense was $1.3 million and $1.1 million for the three months ended March 31, 2021 and 2020, respectively. For the three months ended March 31, 2021, expenses of $0.3 million, $0.5 million, $0.1 million and $0.4 million were amortized to cost of testing services, cost of product, cost of digital and other and sales and marketing, respectively. For the three months ended March 31, 2020, expenses of $0.3 million, $0.4 million, $0.1 million and $0.3 million were amortized to cost of testing services, cost of product, cost of digital and other and sales and marketing, respectively. The following table summarizes the Company’s estimated future amortization expense of intangible assets with finite lives as of March 31, 2021 (in thousands):
Years Ending December 31, |  | Cost of Testing Services |  | Cost of Product |  | Cost of Digital and Other |  | Sales and Marketing |  | Total
Remainder of 2021 |  | $ | 987 |  |  | $ | 1,430 |  |  | $ | 323 |  |  | $ | 1,083 |  |  | $ | 3,823 |
2022 |  | 1,316 |  |  | 1,906 |  |  | 431 |  |  | 1,437 |  |  | 5,090 |
2023 |  | 1,316 |  |  | 1,906 |  |  | 431 |  |  | 1,427 |  |  | 5,080 |
2024 |  | 1,316 |  |  | 1,906 |  |  | 431 |  |  | 1,427 |  |  | 5,080 |
2025 |  | 1,316 |  |  | 1,906 |  |  | 431 |  |  | 1,427 |  |  | 5,080 |
Thereafter |  | 5,457 |  |  | 5,020 |  |  | 1,622 |  |  | 7,955 |  |  | 20,054 |
Total future amortization expense |  | $ | 11,708 |  |  | $ | 14,074 |  |  | $ | 3,669 |  |  | $ | 14,756 |  |  | $ | 44,207 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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