Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS AND GOODWILL

v3.22.4
INTANGIBLE ASSETS AND GOODWILL
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL INTANGIBLE ASSETS AND GOODWILL
The Company's acquired intangible assets at December 31, 2022 consisted of the following (in thousands):

Weighted
average
amortization
period (years)
Cost Accumulated
amortization
Net
carrying
value
Trade name 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 December 31, 2022 was as follows (in thousands):

Year ending December 31,
2023 $ 2,228 
2024 2,214 
2025 1,755 
2026 1,527 
2027 1,527 
Thereafter 4,950 
Total $ 14,201 
The changes in the carrying value of the Company’s goodwill in the years ended December 31, 2022 and 2021 were as follows (in thousands):
Year ended December 31,
2022 2021
Balance at January 1, $ 2,068  $ 2,068 
Kind Acquisition 6,011  — 
Balance at December 31, $ 8,079  $ 2,068 

Goodwill is reviewed on an annual basis for impairment. Based on these reviews and other factors, the Company determined there was no goodwill impairment in the years ended December 31, 2022 and 2021.