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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Change in the Carrying Amount of Goodwill

The change in the carrying amount of goodwill was as follows (in thousands):

 

Goodwill as of December 31, 2020

 

$

3,700

 

2021 NimbeLink acquisition goodwill

 

 

7,145

 

Goodwill as of December 31, 2021

 

$

10,845

 

2022 Changes in goodwill

 

 

—

 

Goodwill as of December 31, 2022

 

$

10,845

 

 
Summary of Acquired Intangible Assets

The following is a summary of the Company’s acquired intangible assets (dollars in thousands):

 

 

 

December 31, 2022

 

 

 

Weighted average amortization period (in years)

 

Gross carrying amount

 

 

Accumulated amortization

 

 

Net carrying amount

 

Market related intangibles

 

5

 

$

1,820

 

 

$

795

 

 

$

1,025

 

Customer relationships

 

7

 

 

13,780

 

 

 

6,720

 

 

 

7,060

 

Developed technologies

 

11

 

 

4,380

 

 

 

1,263

 

 

 

3,117

 

Covenants to non-compete

 

2

 

 

115

 

 

 

114

 

 

 

1

 

Total intangible assets, net

 

 

 

$

20,095

 

 

$

8,892

 

 

$

11,203

 

 

 

 

December 31, 2021

 

 

 

Weighted average amortization period (in years)

 

Gross carrying amount

 

 

Accumulated amortization

 

 

Net carrying amount

 

Market related intangibles

 

5

 

$

1,820

 

 

$

454

 

 

$

1,366

 

Customer relationships

 

7

 

 

13,780

 

 

 

4,447

 

 

 

9,333

 

Developed technologies

 

11

 

 

4,380

 

 

 

908

 

 

 

3,472

 

Covenants to non-compete

 

2

 

 

115

 

 

 

57

 

 

 

58

 

Total intangible assets, net

 

 

 

$

20,095

 

 

$

5,866

 

 

$

14,229

 

 

 

Estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table (in thousands):
Schedule of Estimated Annual Amortization of Intangible Assets

 

 

 

Estimated future amortization

 

2023

 

$

2,969

 

2024

 

 

2,968

 

2025

 

 

2,958

 

2026

 

 

557

 

2027

 

 

356

 

Thereafter

 

 

1,395

 

Total

 

$

11,203

 
Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.