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GOODWILL AND INTANGIBLE ASSETS, NET
12 Months Ended
Dec. 31, 2020
GOODWILL AND INTANGIBLE ASSETS, NET  
GOODWILL AND INTANGIBLE ASSETS, NET

5.GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill consists of the following (in thousands):

December 31, 

    

2020

    

2019

Goodwill

$

1,625

$

1,625

Effect of foreign currency translation

 

114

 

70

Total goodwill

$

1,739

$

1,695

Intangible assets, net, consists of the following (in thousands):

December 31, 

    

2020

    

2019

Developed technology

$

500

$

500

Internally developed software

 

22,545

 

16,722

Intangible assets

 

23,045

 

17,222

Less: Accumulated amortization

 

(10,993)

 

(6,549)

Add: Currency translation adjustment

 

35

 

22

Total intangible assets, net

$

12,087

$

10,695

Amortization expense for intangible assets was $4.5 million and $3.1 million for the years ended December 31, 2020 and 2019, respectively, of which substantially all represents amortization of internally developed software recognized in cost of goods sold in the consolidated statements of operations.