As a result of sustained decreases in the Company's publicly quoted share price and market capitalization during 2023, the Company conducted additional testing of its goodwill, definite-lived intangibles, and other long-lived assets as of March 31, 2023. As a result of this review, the Company did not identify an impairment to its definite-lived intangible assets or other long-lived assets, but the Company did identify indicators of goodwill impairment for the single reporting unit and concluded that a triggering event had occurred which required an interim goodwill impairment assessment.

In performing the quantitative assessment of goodwill, our reporting unit’s carrying amount exceeded its fair value. The Company estimated the reporting unit's fair value based on the market capitalization and a related control premium of 30% (amount paid by a new controlling shareholder for the benefits resulting from synergies and other potential benefits derived from controlling the acquired company). The Company evaluates the implied control premium or discount by comparing it to control premiums or discounts of recent comparable market transactions, as applicable. As a result of the interim quantitative impairment assessment, the Company recorded a $330,309 non-deductible, non-cash goodwill impairment charge for the quarter ended March 31, 2023. When considering a hypothetical sensitivity analysis to our goodwill assessment in future periods, should a triggering event be identified, a further 10% decline in our stock price could result in an impairment charge of approximately $85,000.

Identified intangible assets consisted of the following:


	Gross Amount		Accumulated Amortization			Carrying Value		Weighted Average Remaining Life
March 31, 2023
Customer relationships	$	80,341	$	(26,958	)		53,383		7.2
Contractor relationships		535		(298	)		237		5.8
Tradename		14,162		(3,637	)		10,525		4.8
Technology		89,747		(34,550	)		55,197		4.0
Internally developed software		16,905		(846	)		16,059		2.9
	$	201,690	$	(66,289	)	$	135,401

	Gross Amount		Accumulated Amortization			Carrying Value		Weighted Average Remaining Life
December 31, 2022
Customer relationships	$	80,168	$	(24,919	)		55,249		7.4
Contractor relationships		535		(288	)		247		6.0
Trade name		14,012		(3,050	)		10,962		5.0
Technology		89,262		(30,895	)		58,367		4.2
Internally developed software		10,155		—			10,155		3.0
	$	194,132	$	(59,152	)	$	134,980

The Company capitalized $6,751 of costs during the three months ended March 31, 2023, related to internally developed software to be sold as a service incurred during the application development stage and is amortizing these costs over the expected lives of the related services. Amortization expense related to intangible assets for the three months ended March 31, 2023 and 2022 was

$6,932 and $6,186, respectively. Estimated future amortization expense of the identified intangible assets as of March 31, 2023, is as follows: