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Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2022

8.	Intangible Assets and Goodwill

Acquired intangible assets subject to amortization consist of the following (in thousands):

	March 31, 2022							December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	19,073	$	(1,917	)	$	17,156	$	19,073	$	(1,619	)	$	17,454
Developed technologies		4,900		(748	)		4,152		4,900		(528	)		4,372
Trademark and trade names		400		(96	)		304		400		(65	)		335
Total acquired intangible assets	$	24,373	$	(2,761	)	$	21,612	$	24,373	$	(2,212	)	$	22,161

As of March 31, 2022, the weighted average remaining useful life for customer relationships was 14.9 years, developed technologies was 5.2 years, and trademarks and trade names was 3.2 years.

Amortization expense for customer relationships intangible assets is included in sales and marketing expenses and totaled $283,000 and $57,000 for the three months ended March 31, 2022 and 2021, respectively. Amortization expense for developed technologies intangible assets is included in cost of software solutions revenue and totaled $220,000 and $0 for the three months ended March 31, 2022 and 2021, respectively. Amortization expense for trademark and trade name intangible assets is included in general and administrative expenses and totaled $46,000 and $0 for the three months ended March 31, 2022 and 2021, respectively.

As of March 31, 2022, annual amortization of definite lived intangible assets, based on existing intangible assets and current useful lives, is estimated to be the following (in thousands):

Year ending December 31,
2022 remaining	$	1,649
2023		2,147
2024		2,057
2025		1,929
2026 and thereafter		13,830
Total	$	21,612

The following table provides a summary of changes in the carrying amounts of goodwill (in thousands):

	Goodwill
Balance at December 31, 2021	$	36,972
Additions		-
Balance at March 31, 2022	$	36,972