Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS AND GOODWILL

v3.23.1
INTANGIBLE ASSETS AND GOODWILL
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL
(9) INTANGIBLE ASSETS AND GOODWILL

The Company’s acquired intangible assets at March 31, 2023 and December 31, 2022 consisted of the following (in thousands):

March 31, 2023 Weighted
average
amortization
period (years)
  Cost Accumulated
amortization
Net
carrying
value
Tradename and trademarks 7.11 $ 3,104  $ 624  $ 2,480 
Licenses and customer base 9.22 18,033  1,056  16,977 
Non-compete agreements 2.00 42  19  23 
8.89 $ 21,179  $ 1,699  $ 19,480 


December 31, 2022 Weighted
average
amortization
period (years)
Cost Accumulated
amortization
Net
carrying
value
Tradename and trademarks 3.00 $ 2,041  $ 453  $ 1,588 
Licenses and customer base 8.94 13,260  675  12,585 
Non-compete agreements 2.00 42  14  28 
8.13 $ 15,343  $ 1,142  $ 14,201 


Estimated future amortization expense for the Company’s intangible assets at March 31, 2023 was as follows:

Year ending December 31,
Remainder of 2023 $ 2,023 
2024 2,683 
2025 2,223 
2026 1,996 
2027 1,996 
Thereafter 8,559 
Total $ 19,480 

The changes in the carrying value of the Company’s goodwill in the three months ended March 31, 2023 and 2022 were as follows (in thousands):
2023 2022
Balance at January 1, $ 8,079  $ 2,068 
Ermont Acquisition 3,925  — 
Balance at March 31, $ 12,004  $ 2,068