Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Note 8—Goodwill and Intangible Assets

The tables below summarize goodwill and intangible assets activities as of December 31, 2020 and 2019 (in thousands):

	Goodwill		Intangible Assets
Balance, December 31, 2018	$	—	$	—
Rhythm Xience Acquisition		12,026		4,360
Amortization expense		—		(250	)
Balance, December 31, 2019		12,026		4,110
Biotronik License Agreement		—		2,000
Amortization expense		—		(457	)
Balance, December 31, 2020	$	12,026	$	5,653

	Estimated Useful	Weighted Average Remaining
	Life (in years)	Life (in years)		Intangible Assets		Accumulated Amortization			December 31, 2020
Developed technology	10		8.6	$	4,200	$	(600	)	$	3,600
Customer-related intangible	5	3.5			100		(30	)		70
Licensed intangibles	10		9.9		2,000		(17	)		1,983
Total				$	6,300	$	(647	)	$	5,653

	Estimated Useful	Weighted Average Remaining
	Life (in years)	Life (in years)	Intangible Assets		Accumulated Amortization			December 31, 2019
Developed technology	10	9.5	$	3,600	$	(180	)	$	3,420
In-process technology	indefinite			600		—			600
Trademarks and trade names	0.5	—		60		(60	)		—
Customer-related intangible	5	4.5		100		(10	)		90
Total			$	4,360	$	(250	)	$	4,110

Acquired in-process technology was classified as an indefinite-lived intangible asset until the receipt of FDA approval for the technology in January 2020. Once FDA approval was received, the in-process technology was reclassified as developed technology and amortization began. The Company recorded amortization expense related to the above intangible assets of $0.5 million and $0.3 million for the years ended December 31, 2020 and 2019, respectively.

The following table shows the remaining amortization expense associated with amortizable intangible assets as of December 31, 2020 (in thousands):

	Developed Technology		Customer- Related Intangible		Licensed Intangibles		Total Amortization
Year ending December 31, 2021	$	420	$	20	$	200	$	640
Year ending December 31, 2022		420		20		200		640
Year ending December 31, 2023		420		20		200		640
Year ending December 31, 2024		420		10		200		630
Year ending December 31, 2025		420		—		200		620
Thereafter		1,500		—		983		2,483
Total	$	3,600	$	70	$	1,983	$	5,653