Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.22.2
Intangible Assets, Net
6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 7. Intangible Assets, Net

Intangible assets consists of the following as of the dates presented (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Supplier relationships gained in acquisition

 

$

11,464

 

 

$

11,373

 

Capitalized software

 

 

2,455

 

 

 

2,322

 

Website development

 

 

132

 

 

 

168

 

 

 

 

14,051

 

 

 

13,863

 

Less: accumulated amortization

 

 

(2,608

)

 

 

(2,326

)

Total intangible assets, net

 

$

11,443

 

 

$

11,537

 

 

Amortization related to acquired intangible assets (see Note 3) and capitalized software totaled $0.2 million for both the three months ended June 30, 2022 and 2021, and $0.5 million and $0.2 million during the six months ended June 30, 2022 and 2021, respectively. The following table summarizes amortization expense expected to be recognized for the Company's intangible assets, described above, as of the date presented (in thousands):

 

 

 

June 30,

 

 

 

2022

 

2022

 

$

450

 

2023

 

 

849

 

2024

 

 

716

 

2025

 

 

598

 

2026

 

 

573

 

Thereafter

 

 

8,257

 

Total

 

$

11,443