| Goodwill and Intangible Assets, Net |
NOTE 6. GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The following table presents the changes in the carrying amount of goodwill:
|
|
|
Carrying Amount
|
|
|
Balance as of December 31, 2018
|
|
$
|
5,509
|
|
|
Performance Bridge working capital adjustment
|
|
|
34
|
|
|
Performance Bridge purchase price allocation adjustment
|
|
|
1,309
|
|
|
Machine Box purchase price allocation adjustment
|
|
|
175
|
|
|
Wazee Digital purchase price allocation adjustment
|
|
|
(123
|
)
|
|
Balance as of December 31, 2019
|
|
$
|
6,904
|
|
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, 2019
|
|
|
December 31, 2018
|
|
|
|
|
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
|
|
|
1.3
|
|
|
$
|
3,582
|
|
|
$
|
(2,171
|
)
|
|
$
|
1,411
|
|
|
$
|
3,576
|
|
|
$
|
(1,613
|
)
|
|
$
|
1,963
|
|
|
Licensed technology
|
|
|
1.6
|
|
|
|
500
|
|
|
|
(208
|
)
|
|
|
292
|
|
|
|
500
|
|
|
|
(42
|
)
|
|
|
458
|
|
|
Developed technology
|
|
|
3.6
|
|
|
|
9,600
|
|
|
|
(2,560
|
)
|
|
|
7,040
|
|
|
|
9,600
|
|
|
|
(792
|
)
|
|
|
8,808
|
|
|
Customer relationships
|
|
|
3.6
|
|
|
|
9,300
|
|
|
|
(2,480
|
)
|
|
|
6,820
|
|
|
|
9,300
|
|
|
|
(733
|
)
|
|
|
8,567
|
|
|
Trademarks and trade names
|
|
|
0.9
|
|
|
|
100
|
|
|
|
(59
|
)
|
|
|
41
|
|
|
|
100
|
|
|
|
(15
|
)
|
|
|
85
|
|
|
Noncompete agreements
|
|
|
2.5
|
|
|
|
800
|
|
|
|
(278
|
)
|
|
|
522
|
|
|
|
800
|
|
|
|
(201
|
)
|
|
|
599
|
|
|
Total
|
|
|
3.4
|
|
|
$
|
23,882
|
|
|
$
|
(7,756
|
)
|
|
$
|
16,126
|
|
|
$
|
23,876
|
|
|
$
|
(3,396
|
)
|
|
$
|
20,480
|
|
The following table presents amortization expense associated with the Company’s finite-lived intangible assets, which is included in the consolidated statements of operations and comprehensive loss as follows:
|
|
|
Year Ended
|
|
|
|
|
December 31,
|
|
|
|
|
2019
|
|
|
|
|
2018
|
|
|
Cost of revenues
|
|
$
|
2,028
|
|
|
|
|
$
|
920
|
|
|
Sales and marketing
|
|
|
1,797
|
|
|
|
|
|
967
|
|
|
Research and development
|
|
|
1,025
|
|
|
|
|
|
1,076
|
|
|
General and administrative
|
|
|
10
|
|
|
|
|
|
13
|
|
|
Total
|
|
$
|
4,860
|
|
|
|
|
$
|
2,976
|
|
Amortization of finite-lived intangible assets in cost of revenues and research and development in the consolidated statements of operations and comprehensive loss relates primarily to acquired developed technology.
The following table summarizes the future estimated annual amortization expense for these assets at December 31, 2019:
|
2020
|
|
$
|
5,382
|
|
|
2021
|
|
|
4,261
|
|
|
2022
|
|
|
3,963
|
|
|
2023
|
|
|
2,520
|
|
|
Total
|
|
$
|
16,126
|
|
|