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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table represents the allocation of the total cost of the MTE acquisition to the assets acquired (in thousands):
| Fair Value
Consideration for MTE assets |
Fair value of Travelzoo common stock issued | $ | 15,175 |
Direct transaction costs | 184 |
Less: |
Cash received from Azzurro Capital Inc. | (1,000) |
Notes receivable from Azzurro Capital Inc. | (4,753) |
Total consideration for MTE assets | $ | 9,606 |
Relative fair value of the assets acquired |
Cash and cash equivalents | $ | 6 |
Prepaid expenses and other | 45 |
Property and equipment | 18 |
Tax indemnification asset | 9,537 |
Total assets acquired | $ | 9,606 |
Schedule of Intangible Assets | The following table represents the fair value and estimated useful lives of intangible assets from the above acquisitions (in thousands):
| Fair Value |  | Estimated Life (Years)
Customer relationships (Jack's Flight Club) | $ | 3,500 |  |  | 5.0
Trade name (Jack's Flight Club) | 2,460 |  |  | indefinite
Non-compete agreements (Jack's Flight Club) | 660 |  |  | 4.0
Intangible assets (Secret Escape Spain member database) | 445 |  |  | 3.0
Intangible assets (Secret Escape U.S. member database) | 1,751 |  |  | 2.3
The following table represents the activities of intangible assets for the three months ended March 31, 2023 and 2022 (in thousands):
| Jack's Flight Club |  | Secret Escape Spain |  | Secret Escape U.S.
Intangible assets—January 1, 2022 | 3,426 |  |  |  |  |
Acquisitions—March 2022 | — |  |  | 445 |  |  | 1,751 |
Amortization of intangible assets with definite lives | (226) |  |  | (12) |  |  | (195) |
Intangible assets—March 31, 2022 | 3,200 |  |  | 433 |  |  | 1,556 |
Amortization of intangible assets with definite lives | (217) |  |  | (34) |  |  | (194) |
Intangible assets—June 30, 2022 | 2,983 |  |  | 399 |  |  | 1,362 |
Amortization of intangible assets with definite lives | (216) |  |  | (30) |  |  | (194) |
Intangible assets—September 30, 2022 | 2,767 |  |  | 369 |  |  | 1,168 |
Amortization of intangible assets with definite lives | (216) |  |  | (42) |  |  | (195) |
Impairment of trade name—December 31, 2022 | (200) |  |  | — |  |  | — |
Intangible assets—December 31, 2022 | 2,351 |  |  | 327 |  |  | 973 |
Amortization of intangible assets with definite lives | (168) |  |  | (39) |  |  | (195) |
Intangible assets—March 31, 2023 | $ | 2,183 |  |  | $ | 288 |  |  | $ | 778 |
Schedule of Expected Future Amortization Expense | Expected future amortization expense of acquired intangible assets as of March 31, 2023 is as follows (in thousands):
Years ending December 31, |
2023 (excluding the three months ended March 31, 2023) | 1,159 |
2024 | 587 |
2025 | 53 |
| $ | 1,799 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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