Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles

v3.22.1
Goodwill and Intangibles
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles Goodwill and Intangibles
Goodwill:

The following table summarizes the changes in the carrying amount of Goodwill for the three months ended March 31, 2022 (in thousands):
Segments Acquisitions Balance as of January 1, 2022 Goodwill additions through acquisitions Valuation Measurement Period Adjustments Exchange rate fluctuations as of March 31, 2022 Balance as of March 31, 2022
SAVES Systat $ 695  $ —  $ —  $ —  $ 695 
Indoor Intelligence GTX —  —  — 
Nanotron 1,119  —  —  (21) 1,098 
Jibestream 480  —  —  487 
CXApp 5,066  —  —  —  5,066 
Game Your Game 152  —  —  —  152 
IntraNav 159  —  —  (2) 157 
Total $ 7,672  $ —  $ —  (16) $ 7,656 

The Company reviews goodwill for impairment on a reporting unit basis on December 31 of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. As of March 31, 2022, the Company did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable. As of March 31, 2022 and December 31, 2021, the Company has cumulative goodwill impairment charges of $0 and $14.8 million related to the Indoor Intelligence reporting unit, respectively.

Intangibles assets at March 31, 2022 and December 31, 2021 consisted of the following (in thousands):

Gross Carrying Amount Accumulated Amortization Amount Remaining Weighted Average Useful Life
March 31, December 31, March 31, December 31,
2022 2021 2022 2021
IP Agreement $ 167  $ 172  $ (63) $ (54) 2.50
Trade Name/Trademarks 3,598  3,602  (844) (662) 4.02
Webstores & Websites 404  404  (157) (123) 1.83
Customer Relationships 9,288  9,294  (1,782) (1,440) 5.53
Developed Technology 22,216  22,175  (3,608) (3,010) 8.25
Non-compete Agreements 4,783  4,786  (2,000) (1,666) 2.21
Totals $ 40,456  $ 40,433  $ (8,454) $ (6,955)

Amortization Expense:

Amortization expense for the three months ended March 31, 2022 and 2021 was approximately $1.5 million and $0.6 million, respectively.
Future amortization expense on intangibles assets is anticipated to be as follows (in thousands):

Amount
December 31, 2022 (for 9 months) $ 4,646 
December 31, 2023 5,987 
December 31, 2024 5,033 
December 31, 2025 4,402 
December 31, 2026 and thereafter 11,934 
$ 32,002