Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets (Tables)

v3.23.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill Changes in the Company’s goodwill balance for the years ended December 31, 2022 and 2021, are summarized in the table below:

2022 2021
Balance, beginning of period $ 33,260  $ 25,900 
Acquisition of Lyte 35  7,374 
Foreign currency translation (121) (14)
Impairment of goodwill (2,061) — 
Balance, end of period $ 31,113  $ 33,260 
Schedule of Finite-Lived Intangible Assets The finite-lived intangible assets that are being amortized are summarized in the table below:
Weighted Average Useful Life
(years)
 December 31, 2022 December 31, 2021
Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount
Trade name 5.0 $ 3,986  $ (1,462) $ 2,524  $ 3,990  $ (799) $ 3,191 
Acquired technology 5.1 4,828  (4,828) —  4,828  (4,828) — 
In-process research and development 5.0 94  (94) —  94  (94) — 
Customer relationships 5.7 4,535  (4,535) —  4,626  (4,604) 22 
Order backlog 1.5 329  (329) —  329  (329) — 
$ 13,772  $ (11,248) $ 2,524  $ 13,867  $ (10,654) $ 3,213 
Schedule of Expected Future Annual Amortization Expense
Expected future annual amortization expense for finite-lived intangible assets is as follows:
Future amortization expense for the years ending December 31, Amortization
2023 $ 668 
2024 668 
2025 668 
2026 520 
Total $ 2,524