Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Purchased Intangibles

v3.23.3
Goodwill and Purchased Intangibles
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Purchased Intangibles

4. Goodwill and Purchased Intangibles

 

Goodwill

 

The carrying value of goodwill at each of September 30, 2023 and December 31, 2022 was $0.

 

The following table presents details of our purchased intangible assets as of September 30, 2023 and December 31, 2022:

 

Intangible assets

 

    Balance at
December 31,
2022
    Additions     Impairments     Amortization     Fx and
Other
    Balance at
September 30,
2023
 
Patents and trademarks   $ 52,698     $ 6,300     $     $ (5,444 )   $ 1,555     $ 55,109  
Customer and merchant relationships     30,690                 $ (18,414 )           12,276  
Trade names     8,050                 $ (4,831 )           3,219  
    $ 91,438     $ 6,300     $     $ (28,689 )   $ 1,555     $ 70,604  

 

The intangible assets are being amortized on a straight-line basis over their estimated useful lives of one year to twenty years.

 

Amortization expense for intangible assets was $28,689 and $107,211 for the nine months ended September 30, 2023 and 2022, respectively, and is included in depreciation and amortization on the accompanying unaudited condensed consolidated statements of operations and comprehensive loss.

 

Amortization expense for intangible assets was $10,747 and $35,724 for the three months ended September 30, 2023 and 2022, respectively.

 

The estimated future amortization expense of our intangible assets as of September 30, 2023 is as follows:

 

Year ending December 31,   Amount  
2023   $ 9,193  
2024     13,526  
2025     5,778  
2026     5,778  
2027     5,778  
Thereafter     30,551  
Total   $ 70,604