Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.23.1
Intangible Assets, Net
3 Months Ended
Mar. 31, 2023
Intangible Assets, Net  
Intangible Assets, Net

Note 5. Intangible Assets, Net

Intangible assets, net consisted of the following (amounts in thousands):

    

March 31, 2023

Gross Carrying

Accumulated

Net Carrying

    

Amount

    

Amortization

    

Value

Trade names

$

7,956

$

(1,461)

$

6,495

Software development

 

12,927

 

(3,616)

 

9,311

Customer relationships

8,180

(2,364)

5,816

Agent relationships

 

5,856

 

(1,133)

 

4,724

Know-how

430

(168)

262

$

35,349

$

(8,742)

$

26,608

    

December 31, 2022

    

Gross Carrying

    

Accumulated

    

Net Carrying

    

Amount

    

Amortization

    

Value

Trade names

$

7,956

$

(1,262)

$

6,694

Software development

 

12,348

 

(3,029)

 

9,319

Customer relationships

8,180

(2,085)

6,095

Agent relationships

5,856

(988)

4,868

Know-how

 

430

 

(147)

 

283

$

34,770

$

(7,511)

$

27,259

Estimated future amortization of intangible assets as of March 31, 2023 was as follows (amounts in thousands):

Years Ending December 31,

    

    

2023 (Remaining)

$

4,003

2024

 

5,175

2025

 

4,937

2026

 

4,301

2027

 

3,301

2028

2,197

Thereafter

2,694

Total

$

26,608

The aggregate amortization expense for intangible assets was $1.2 million and $1.0 million, of which $0.7 million and $0.5 million was included in technology and development expense for the three months ended March 31, 2023 and 2022, respectively.