XML 22 R10.htm IDEA: XBRL DOCUMENT

INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

NOTE 4 — INTANGIBLE ASSETS

Intangible assets as of December 31, 2021 and 2020 consisted of the following:


	December 31,
(in thousands)	2021		2020
Finite-lived assets:
Patents	$	3,887	$	3,779
Capitalized software development costs		3,833		2,676
Customer Relationships		187		—
Accumulated amortization		(5,285)		(4,328)
Finite-lived assets, net		2,622		2,127
Indefinite-lived assets:
Domain name		—		10
Intangible assets, net	$	2,622	$	2,137

As of December 31, 2021 and 2020, capitalized cost associated with pending patents totaled $53,000 and 141,000, respectively.

For the years ended December 31, 2021 and 2020, software development costs capitalized totaled $1,425,000 and $1,157,000, respectively.

In 2021, we recorded $187,000 in customer relationships in connection with acquisition of Square ADA. We amortize our customer relationships on a straight-line basis over the estimated useful life of two years. Refer to Note 3 – Acquisitions for additional information on the Square ADA acquisition. for Refer to Note 2 – Significant Accounting Policies for additional information regarding our intangible assets, including specific information on our patents and capitalized software development costs.

The following table summarizes amortization expense associated with intangible assets for the fiscal years ended December 31, 2021 and 2020:


	Year ended December 31,
(in thousands)	2021		2020
Patents	$	379	$	428
Capitalized software development costs		845		449
Customer Relationships		1		—
Total amortization expense	$	1,225	$	877

The weighted average remaining useful life of our finite-lived intangible assets (in years) as of December 31, 2021 are as follows:


Weighted average remaining amortization period (in years)
Patents		2.2
Capitalized software development costs		2.3
Customer Relationships		2.0

No loss on impairment of long-lived assets was recorded for the years ended December 31, 2021 and 2020.