Veritone, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

NOTE 7. GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The carrying amount of goodwill was $34,058 as of December 31, 2021 and $6,904 as of December 31, 2020. The increase in the carrying amount of goodwill is due solely to the acquisition of PandoLogic in September 2021.

Intangible Assets

The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and other purchases, which continue to be amortized:

			December 31, 2021							December 31, 2020
	Weighted Average Remaining Useful Life (in years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Software and technology		0.2	$	3,582	$	(3,515	)	$	67	$	3,582	$	(3,357	)	$	225
Licensed technology		0.0		500		(500	)		—		500		(375	)		125
Developed technology		3.3		25,600		(7,564	)		18,036		9,600		(4,480	)		5,120
Customer relationships		6.2		77,300		(9,157	)		68,143		9,300		(4,340	)		4,960
Noncompete agreements		0.6		800		(683	)		117		800		(486	)		314
Trade names		4.7		2,100		(216	)		1,884		—		—			—
Total		5.6	$	109,882	$	(21,635	)	$	88,247	$	23,782	$	(13,038	)	$	10,744

The following table presents future amortization of the Company’s finite-lived intangible assets at December 31, 2021:

2022	$	18,549
2023		17,091
2024		14,571
2025		13,405
2026		9,988
Thereafter		14,643
Total	$	88,247