Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets are amortized over their useful lives on a straight-line basis. The Company’s intangible assets, net of accumulated amortization are as follows:


	December 31, 2021
(in thousands)	Weighted Average Life (in years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Patents	12	$	1,471	$	(1,176)	$	295
Acquired intellectual property and reacquired rights	12	15,126		(8,804)		6,322
Internal-use software implementation costs	3	2,873		(1,086)		1,787
		$	19,470	$	(11,066)	$	8,404


	December 31, 2020
(in thousands)	Weighted Average Life (in years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Patents	12	$	1,651	$	(1,203)	$	448
Acquired intellectual property and reacquired rights	12	15,126		(7,770)		7,356
Internal-use software implementation costs	3	1,675		(147)		1,528
		$	18,452	$	(9,120)	$	9,332

Amortization expense recognized by the Company related to intangible assets was $2.1 million, $1.3 million and $1.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. Amortization expense as it relates to the amortization of acquired intellectual property and other intangible assets resides within amortization on the consolidated statements of

operations. The estimated aggregate amortization expense for intangible assets over the next five fiscal years ending December 31, 2022 through December 31, 2026 is approximately $6.7 million.