v3.22.4

Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, Net | Intangible Assets, Net Intangible assets that are subject to amortization consisted of the following at December 31, 2022 and 2021:
|  | 2022 |  | 2021
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trade name |  | $ | 2,630,000 |  |  | $ | (552,000) |  |  | $ | 2,078,000 |  |  | $ | 1,630,000 |  |  | $ | (210,000) |  |  | $ | 1,420,000 |
Customer relationships |  | 4,150,000 |  |  | (1,172,000) |  |  | 2,978,000 |  |  | 3,950,000 |  |  | (378,000) |  |  | 3,572,000 |
Developed technology |  | 41,600,000 |  |  | (5,615,000) |  |  | 35,985,000 |  |  | 22,800,000 |  |  | (950,000) |  |  | 21,850,000 |
Intangibles, net |  | $ | 48,380,000 |  |  | $ | (7,339,000) |  |  | $ | 41,041,000 |  |  | $ | 28,380,000 |  |  | $ | (1,538,000) |  |  | $ | 26,842,000 |
The Company recorded amortization expense for intangible assets of $5.8 million and $1.4 million for the years ended December 31, 2022 and 2021 respectively, in selling, general and administrative expenses. Intangible assets are amortized on a straight-line basis over their estimated useful lives of five years, with the exception of the developed technology intangible acquired through the acquisition of Purigen, which is amortized over fifteen years. Trade name intangibles have a weighted average remaining amortization period of four years. Customer relationships have a weighted average remaining amortization period of four years. Developed technology intangibles have a weighted average amortization period of ten years. Intangible assets not subject to amortization totaled $0.1 million at December 31, 2022 and related to the Company’s domain name. The Company did not hold any intangibles not subject to amortization at December 31, 2021. Future amortization expense of intangible assets is as follows:
2023 | $ | 7,169,000 |
2024 | 7,169,000 |
2025 | 7,064,000 |
2026 | 5,737,000 |
2027 | 1,473,000 |
Thereafter | 12,429,000 |
Total | $ | 41,041,000 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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