Goodwill and Intangible assets

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets [Line Items]

5. Goodwill and intangible assets

Goodwill and intangible assets consisted of:

	As of
	September 30, 2020									December 31, 2019
(in thousands)	Useful life (months)		Gross carrying amount		Accumulated amortization			Net carrying amount		Gross carrying amount		Accumulated amortization			Net carrying amount
Technology and intellectual property		60	$	—	$	—		$	—	$	32,027	$	(32,027	)	$	—
Customer relationships		120		25,040		(9,285	)		15,755		25,040		(7,094	)		17,946
Costs to acquire third party publishers		24		—		—			—		1,363		(1,363	)		—
Non-compete agreements		60		303		(197	)		106		303		(155	)		148
Domain names		60		1,224		(735	)		489		1,224		(566	)		658
Total Intangible Assets				26,567		(10,217	)		16,350		59,957		(41,205	)		18,752
Goodwill	Indefinite			18,402		—			18,402		18,402		—			18,402

Amortization expense related to intangible assets amounted to $0.8 million and $2.4 million, and $1.4 million and $4.2 million for the three and nine months ended September 30, 2020 and, 2019, respectively. Goodwill is not amortized and is tested for impairment at least annually in the fourth quarter or when events or circumstances indicate that the fair value of a reporting unit may be below its carrying value. We have no accumulated impairment of goodwill.

The following table presents the change in goodwill and intangible assets:

	As of
	September 30, 2020					December 31, 2019
(in thousands)	Goodwill		Intangible assets			Goodwill		Intangible assets
Beginning balance at January 1,	$	18,402	$	18,752		$	18,402	$	23,985
Additions to goodwill and intangible assets		—		—			—		148
Amortization		—		(2,402	)		—		(5,381	)
Ending balance	$	18,402	$	16,350		$	18,402	$	18,752

As of September 30, 2020, future amortization expense on identifiable intangible assets with estimable useful lives over the next five years is as follows:

(in thousands)	Amortization expense
2020–Remaining Period	$	799
2021		2,984
2022		2,730
2023		2,389
2024		2,211
Thereafter		5,237
	$	16,350