Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill and intangible assets consisted of:


	As of
		June 30, 2022						December 31, 2021
(in thousands)	Useful life (months)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Customer relationships	84 - 120	$	43,500	$	(14,836)	$	28,664	$	25,040	$	(12,730)	$	12,310
Non-compete agreements	60	303		(286)		17		303		(268)		35
Trademarks, trade names, and domain names	60 - 120	8,884		(1,238)		7,646		1,224		(1,002)		222
Intangible assets		$	52,687	$	(16,360)	$	36,327	$	26,567	$	(14,000)	$	12,567
Goodwill	Indefinite	$	47,739	$	—	$	47,739	$	18,402	$	—	$	18,402

Amortization expense related to intangible assets amounted to $1.7 million and $0.7 million for the three months ended June 30, 2022 and 2021, respectively, and $2.4 million and $1.5 million for the six months ended June 30, 2022 and 2021, respectively. The Company has no accumulated impairment of goodwill.

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


	As of
	June 30, 2022				December 31, 2021
(in thousands)	Goodwill		Intangible assets		Goodwill		Intangible assets
Beginning balance	$	18,402	$	12,567	$	18,402	$	15,551
Additions to goodwill and intangible assets	29,337		26,120		—		—
Amortization	—		(2,360)		—		(2,984)
Ending balance	$	47,739	$	36,327	$	18,402	$	12,567

As of June 30, 2022, future amortization expense relating to identifiable intangible assets with estimable useful lives over the next five years was as follows:


(in thousands)	Amortization expense
2022–Remaining Period	$	3,396
2023	6,917
2024	6,427
2025	5,759
2026	5,142
Thereafter	8,686
	$	36,327