Intangible Assets, net

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table reflects the changes in the net carrying amounts of the Company’s intangible assets for the year ended December 31, 2020.


	Balance at December 31, 2019		Assets Acquired Pursuant to Business Combination		Impairment Charges		Amortization Expense		Balance at December 31, 2020
Developed technology	$	9,046	$	—	$	—	$	793	$	8,253
	$	9,046	$	—	$	—	$	793	$	8,253

The following table reflects the changes in the net carrying amounts of the Company’s finite-lived intangible assets for the year ended December 31, 2019.


	Balance at December 31, 2018		Assets Acquired Pursuant to Business Combination		Impairment Charges		Amortization Expense		Balance at December 31, 2019
Developed technology	$	17,956	$	—	$	7,628	$	1,282	$	9,046
Customer relationships	112		—		—		112		—
	$	18,068	$	—	$	7,628	$	1,394	$	9,046

The following table reflects the carrying amounts of the Company's finite-lived intangible assets at December 31, 2020 and 2019.


	December 31, 2020				December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Developed technology	$	10,300	$	(2,047)	$	10,300	(1,254)
Customer relationships	—		—		270		(270)
	$	10,300	$	(2,047)	$	10,570	$	(1,524)

The Company uses the straight-line method to determine the amortization expense for its definite-lived intangible assets. The weighted-average remaining useful life for the intangible assets is 10.4 years. Amortization expense related to the purchased intangible assets was $793, $1,394 and $1,002 for the year ended December 31, 2020, 2019, and 2018, respectively. The Company recorded an impairment charge of $7,628 related to specific developed technology allocated to the Quickload during the third quarter of 2019. Amortizable intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable through the estimated undiscounted future cash flows derived from such assets. The Company has developed and tested a new transload technology and no longer plans to actively market the Quickload and as such, all developed technology intangible assets related to the Quickload has been impaired.

The Company conducted a review of its indefinite-lived intangible assets as of December 31, 2018 and determined the carrying value exceeded its fair value, which resulted in a full impairment of indefinite-lived intangible assets in 2018.

The table below reflects the future estimated amortization expense for amortizable intangible assets as of December 31, 2020.


Year ending December 31,
2021	$	792
2022	792
2023	792
2024	792
2025	792
Thereafter	4,293
Total	$	8,253