Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents the components of net intangible assets (in thousands):


	December 31,
	2022		2021
Developed technology	$	486	$	10,060
Trade names	204		2,410
Distributor relationships	—		310
Total intangible assets	690		12,780
Accumulated amortization	(86)		(5,218)
Intangible assets, net	$	604	$	7,562

At each reporting period, we determine if there was a triggering event that may result in an impairment of our intangible assets.

Collaboration Products Reportable Segment

During the year ended December 31, 2022, we considered the declines in revenue for the Collaboration Products reporting segment and the decline in the Company’s market capitalization to be triggering events for an impairment test of intangible assets for this segment. Based on the corresponding recoverability tests of the asset group for this segment, it was determined that the carrying value exceeded the gross cash flows of the asset group. The recoverability test consisted of comparing the estimated undiscounted cash flows expected to be generated by those assets to the respective carrying amounts, and involves significant judgements and assumptions, related primarily to the future revenue and profitability of the assets. Based on the fair value of the asset group, which was determined using a market approach, we recorded impairment charges of $5,133,000 for the year ended December 31, 2022. Additionally, as part of our evaluation at September 30, 2022, we re-evaluated the remaining useful lives of our amortizing intangible assets and, based on our current plan, we adjusted its remaining useful life to 2 years. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets.

Managed Services Reportable Segment

During the year ended December 31, 2021, our Managed Services segment stopped offering video meeting suites (“VMS”) services. VMS services were a component of our video collaboration services revenue stream and contributed to the cash flows relating to the affiliate network intangible asset. As a result, we identified the cessation of our VMS services to be a triggering event for a recoverability test of the affiliate network intangible asset. Based on the corresponding recoverability test, we deemed the affiliate network intangible asset to have no remaining value. Therefore, we recorded an impairment charge of $207,000 for the year ended December 31, 2021.

Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which initially ranged from five years to twelve years in accordance with ASC Topic 350.

Related amortization expense was $1,825,000 and $2,371,000 for the years ended December 31, 2022 and 2021, respectively. Amortization expense for each of the remaining years will be as follows (in thousands):


2023	$	345
2024	259




Total	$	604