Fathom Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Intangible Assets, Net

Intangible Assets, Net

Note 6. Intangible Assets, Net

Intangible assets, net consisted of the following at the dates indicated (amount in thousands):


	December 31, 2021
	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Value
Trade names	$	6,326	$	(454)	$	5,872
Software development		9,017		(1,095)		7,922
Customer relationships		8,180		(897)		7,283
Agent relationships		3,030		(233)		2,797
Know-how		430		(61)		369
	$	26,983	$	(2,740)	$	24,243


	December 31, 2020
	Gross
	Carrying		Accumulated		Net Carrying
	Amount		Amortization		Value
Trade names	$	166	$	(1)	$	165
Software development		921		(164)		757
	$	1,087	$	(165)	$	922

As of December 31, 2021, the estimated future amortization expense for definite-lived intangible assets will be (amount in thousands):


Years Ended December 31,
2022	$	4,020
2023		3,920
2024		3,806
2025		3,571
2026		2,987
Thereafter		5,939
Total	$	24,243

Amortization expense for capitalized software was approximately $0.9 million and $0.1 million for the years ended December 31, 2021 and 2020, respectively. Capitalized software costs are amortized over the expected useful lives of the applicable software, which is estimated at five years.