| 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):
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| March 31, 2023 |
Weighted
average
amortization
period (years) |
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Cost |
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Accumulated
amortization |
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Net
carrying
value |
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| Tradename and trademarks |
7.11 |
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$ |
3,104 |
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$ |
624 |
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$ |
2,480 |
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| Licenses and customer base |
9.22 |
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18,033 |
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1,056 |
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16,977 |
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| Non-compete agreements |
2.00 |
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42 |
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19 |
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23 |
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8.89 |
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$ |
21,179 |
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$ |
1,699 |
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$ |
19,480 |
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| December 31, 2022 |
Weighted
average
amortization
period (years) |
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Cost |
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Accumulated
amortization |
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Net
carrying
value |
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| Tradename and trademarks |
3.00 |
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$ |
2,041 |
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$ |
453 |
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$ |
1,588 |
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| Licenses and customer base |
8.94 |
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13,260 |
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675 |
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12,585 |
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| Non-compete agreements |
2.00 |
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42 |
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14 |
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28 |
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8.13 |
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$ |
15,343 |
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$ |
1,142 |
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$ |
14,201 |
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Estimated future amortization expense for the Company’s intangible assets at March 31, 2023 was as follows:
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| Year ending December 31, |
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| Remainder of 2023 |
$ |
2,023 |
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| 2024 |
2,683 |
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| 2025 |
2,223 |
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| 2026 |
1,996 |
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| 2027 |
1,996 |
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| Thereafter |
8,559 |
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| Total |
$ |
19,480 |
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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):
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2023 |
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2022 |
| Balance at January 1, |
$ |
8,079 |
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$ |
2,068 |
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| Ermont Acquisition |
3,925 |
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— |
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| Balance at March 31, |
$ |
12,004 |
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$ |
2,068 |
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