Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets Disclosure [Abstract]

6. Goodwill and intangible assets

Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired.

Goodwill amounts are not amortized but tested for impairment on an annual basis. There was no impairment of goodwill as of March 31, 2023.

Definite-lived intangible assets are amortized on a straight-line basis over the useful life. Definite-lived intangible assets amortization was $2.0 million for the three months ended March 31, 2023 and 2022, respectively.

6. Goodwill and intangible assets (continued)

Definite-lived intangible assets consists of the following:


(in thousands)	March 31, 2023							December 31, 2022							Weighted average remaining useful life as of March 31, 2023 (in years)
	Gross amount		Accumulated amortization			Net carrying amount		Gross amount		Accumulated amortization			Net carrying amount
Developed technology	$	13,367	$	(5,604	)	$	7,763	$	13,367	$	(4,745	)	$	8,622		2.3
Customer relationship	$	22,525	$	(6,731	)	$	15,794	$	22,525	$	(5,734	)	$	16,791		4.1
Tradename	$	2,470	$	(834	)	$	1,636	$	2,470	$	(711	)	$	1,759		3.3
Non-compete agreement	$	162	$	(91	)	$	71	$	162	$	(78	)	$	84		1.3
Other intangibles	$	485	$	(199	)	$	286	$	485	$	(158	)	$	327		1.8
Total definite-lived intangible	$	39,009	$	(13,459	)	$	25,550	$	39,009	$	(11,426	)	$	27,583

As of March 31, 2023, expected amortization expense for definite-lived intangible assets was as follows:


(in thousands)	March 31, 2023

2023 (April 1st through December 31st)		6,099
2024		7,997
2025		6,308
2026		3,429
2027		1,717
Thereafter		—
Total	$	25,550