| INTANGIBLE ASSETS AND GOODWILL |
INTANGIBLE ASSETS AND GOODWILL The Company’s acquired intangible assets at September 30, 2023 and December 31, 2022 consisted of the following (in thousands):
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| September 30, 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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$ |
1,076 |
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$ |
2,028 |
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| Licenses and customer base |
9.15 |
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18,033 |
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2,217 |
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15,816 |
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| Non-compete agreements |
2.00 |
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42 |
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30 |
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12 |
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8.84 |
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$ |
21,179 |
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$ |
3,323 |
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$ |
17,856 |
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| December 31, 2022 |
Weighted
average
amortization
period (years) |
|
Cost |
|
Accumulated
amortization |
|
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 September 30, 2023 was as follows:
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| Year ending December 31, |
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| Remainder of 2023 |
$ |
844 |
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| 2024 |
3,254 |
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| 2025 |
2,772 |
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| 2026 |
2,344 |
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| 2027 |
2,191 |
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| Thereafter |
6,451 |
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| Total |
$ |
17,856 |
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The changes in the carrying value of the Company’s goodwill in the nine months ended September 30, 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 |
3,914 |
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— |
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| Kind Acquisition |
— |
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|
6,011 |
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| Balance at September 30, |
$ |
11,993 |
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$ |
8,079 |
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