Goodwill and Intangible Assets, net

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

(11) Goodwill and Intangible Assets, net

Intangible assets, net were comprised of the following at September 30, 2023 (in thousands, except for weighted-average period):


	Estimated life	Cost Basis		Accumulated Amortization			Net		Remaining Weighted-Average Amortization Period
Tradenames	5 years	$	1,233	$	(547	)	$	686		2.78
Customer relationships	5 years		2,574		(1,141	)		1,433		2.78
Software applications	5 years		3,771		(1,672	)		2,099		2.78
		$	7,578	$	(3,360	)	$	4,218

Intangible assets, net were comprised of the following at December 31, 2022 (in thousands, except for weighted-average period):


	Estimated life	Cost Basis		Accumulated Amortization			Net		Remaining Weighted-Average Amortization Period
Tradenames	5 years	$	1,233	$	(363	)	$	870		3.53
Customer relationships	5 years		2,574		(756	)		1,818		3.53
Software applications	5 years		3,771		(1,108	)		2,663		3.53
		$	7,578	$	(2,227	)	$	5,351

Amortization expense related to the intangibles with estimated lives of five years totaled $1.1 million and $1.1 million for the nine months ended September 30, 2023 and 2022, respectively. Amortization expense for the three months ended September 30, 2023 and 2022 totaled $0.4 million and $0.4 million, respectively. Amounts are included in depreciation and amortization in the consolidated Statements of Income (Loss) and Comprehensive Income (Loss).

Estimated future amortization expense as of September 30, 2023 approximately as follows (in thousands):


	Amount
2023 (for the remainder of)	$	382
2024		1,516
2025		1,516
2026		804
Total	$	4,218

There was no change in the amount of goodwill from December 31, 2022 to September 30, 2023.