Intangible Assets

3 Months Ended

Mar. 31, 2022

Intangible Assets [Abstract]

INTANGIBLE ASSETS

6. INTANGIBLE ASSETS

Goodwill as of March 31, 2022 and December 31, 2021 was $161,678 and $52,541, respectively. The increase relates to goodwill acquired from the acquisition of Even Financial. See Note 17, “Mergers and Acquisitions,” for more information regarding goodwill and other intangible assets acquired from Even Financial.

Intangible assets consisted of the following:

		March 31,			December 31,
	Useful Life	2022			2021
Proprietary technology and capitalized internal-use software	3 - 7 years	$	34,791		$	11,623
Work in process			2,291			1,481
Customer relationships	10 - 15 years		159,820			5,960
Trade names	10 - 15 years		24,980			11,820
Less: accumulated amortization			(8,934	)		(5,760	)
Intangible assets, net		$	212,948		$	25,124

For the three months ended March 31, 2022 and 2021, total amortization expense was $3,191 and $451, respectively.

The following table summarizes estimated future amortization expense of intangible assets placed in service at March 31, 2022 for the years ending:

Remainder of 2022	$	16,951
2023		22,219
2024		22,087
2025		22,087
2026		22,087
Thereafter		105,226
	$	210,657