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Goodwill and Intangibles, net | 12 Months Ended
--- | ---
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles, net | Goodwill and Intangibles, net The following table presents the goodwill activities for the periods presented:
Balance as of December 31, 2022 | $ | 43,304 |
Balance as of December 31, 2023 | $ | 43,304 |
Balance as of December 31, 2024 | $ | 43,304 |
The goodwill attributable to Complex Networks and First We Feast as of December 31, 2023 was excluded from the table above and is reported within noncurrent assets of discontinued operations within the consolidated balance sheet. Additionally, impairment expense attributable to Complex Networks and First We Feast for the year ended December 31, 2022 was excluded from the table above and is reported within net income (loss) from discontinued operations, net of tax, in the consolidated statement of operations. The following table presents the detail of intangible assets for the periods presented and the weighted average remaining useful lives:
| December 31, 2024 |  | December 31, 2023
| Weighted- Average Remaining Useful Lives (in years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Acquired Technology | 0 years |  | $ | 5,500 |  |  | $ | 5,500 |  |  | $ | — |  |  | $ | 5,500 |  |  | $ | 5,271 |  |  | $ | 229 |
Trademarks and Trade Names | 11 years |  | 14,000 |  |  | 3,617 |  |  | 10,383 |  |  | 14,000 |  |  | 2,683 |  |  | 11,317 |
Trademarks and Trade Names | Indefinite |  | 1,368 |  |  | — |  |  | 1,368 |  |  | 1,368 |  |  | — |  |  | 1,368 |
Total |  |  | $ | 20,868 |  |  | $ | 9,117 |  |  | $ | 11,751 |  |  | $ | 20,868 |  |  | $ | 7,954 |  |  | $ | 12,914 |
Amortization expense associated with intangible assets for the years ended December 31, 2024, 2023, and 2022 was $1.2 million, $2.8 million, and $2.8 million, respectively, included in depreciation and amortization expense. Estimated future amortization expense as of December 31, 2024 is as follows (in thousands):
2025 | $ | 933 |
2026 | 933 |
2027 | 933 |
2028 | 933 |
2029 | 933 |
Thereafter | 5,718 |
Total | $ | 10,383 |
The intangible assets attributable to Complex Networks and First We Feast were excluded from the table above and are reported within noncurrent assets of discontinued operations within the consolidated balance sheet as of December 31, 2023. Additionally, amortization expense attributable to First We Feast for the years ended December 31, 2024, 2023, and 2022, and attributable to Complex for the years ended December 31, 2023 and 2022, were excluded from the figures herein and are reported within net income (loss) from discontinued operations, net of tax, in the consolidated statement of operations for all periods presented (through the date of held for sale classification). Goodwill Impairment Goodwill is tested for impairment at the reporting unit level, which is an operating segment, or one level below. We test goodwill for impairment annually on October 1, or more frequently if an event occurs or if circumstances change that would more likely than not reduce the fair value of our reporting unit below its carrying value. We have determined we have one reporting unit for the purposes of allocating and testing goodwill. For the 2024 annual impairment test, the Company performed a qualitative assessment. The assessment included, but was not limited to, consideration of macroeconomic conditions, industry and market conditions, actual and expected financial performance, legal and regulatory environments, and historical performance. Based on the qualitative assessment, considering the aggregation of the relevant factors, the Company concluded that it is more likely than not that the fair value of our reporting unit is greater than its carrying amount and therefore performing a quantitative impairment test was unnecessary. A quantitative goodwill impairment test, when performed, includes estimating the fair value of a reporting unit using an income approach based on a discounted cash flow analysis and / or a market-based approach. A discounted cash flow analysis requires us to make various judgmental assumptions, including assumptions about the timing and amount of future cash flows, growth rates, and discount rates. During the year ended December 31, 2022, the Company recorded a $48.3 million non-cash goodwill impairment charge driven by a sustained decline in share price that pushed its market capitalization below the carrying value of its stockholders’ equity.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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