| Intangible Assets |
9. Intangible
Assets
The following table provides the components of
intangible assets (in thousands, except useful life):
| | |
| | |
As of December 31, 2023 | | |
As of December 31, 2022 | |
| | |
Useful life | | |
Gross | | |
Accumulated | | |
Net
Carrying | | |
Gross | | |
Accumulated | | |
Net
Carrying | |
| | |
(years) | | |
Cost | | |
Amortization | | |
Value | | |
Cost | | |
Amortization | | |
Value | |
| Indefinite-lived non-amortizing: | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Intellectual property | |
| | | |
$ | 8,456 | | |
$ | — | | |
$ | 8,456 | | |
$ | 8,456 | | |
$ | — | | |
$ | 8,456 | |
| Trademarks | |
| | | |
| 30 | | |
| — | | |
| 30 | | |
| 30 | | |
| — | | |
| 30 | |
| Definite-lived amortizing: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Internet domain | |
| 15 | | |
| 900 | | |
| (370 | ) | |
| 530 | | |
| 900 | | |
| (310 | ) | |
| 590 | |
| Customer relationships | |
| 10 | | |
| 10,876 | | |
| (2,286 | ) | |
| 8,590 | | |
| 10,876 | | |
| (187 | ) | |
| 10,689 | |
| Developed technology | |
| 2 | | |
| 644 | | |
| (429 | ) | |
| 215 | | |
| 644 | | |
| (107 | ) | |
| 537 | |
| Internal-use software | |
| 3 | | |
| 8,423 | | |
| (4,048 | ) | |
| 4,375 | | |
| 7,181 | | |
| (1,262 | ) | |
| 5,919 | |
| Intangible assets, net | |
| | | |
$ | 29,329 | | |
$ | (7,133 | ) | |
$ | 22,196 | | |
$ | 28,087 | | |
$ | (1,866 | ) | |
$ | 26,221 | |
Amortization expense for
intangible assets was $5.3 million, $1.2 million and $0.3 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Estimated amortization expense for definite-lived
intangible assets is expected to be as follows for the next five years (in thousands):
| Year ended December 31, | |
| |
| 2024 | |
$ | 4,343 | |
| 2025 | |
| 3,242 | |
| 2026 | |
| 2,399 | |
| 2027 | |
| 1,403 | |
| 2028 | |
| 791 | |
| Thereafter | |
| 1,532 | |
| Total future amortization for definite-lived intangible
assets | |
$ | 13,710 | |
|