Goodwill and Acquired Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Note 4 – Goodwill and Acquired Intangible Assets

Goodwill

Changes in goodwill for Fiscal 2021 are as follows (in thousands):

	Amount
Goodwill, beginning of Fiscal 2020	$	-
Acquisition of CPM		901
Goodwill, beginning of Fiscal 2021		901
Adjustment for deferred tax liability		362
Acquisition of Nebula		4,446
Goodwill, end of Fiscal 2021	$	5,709

Intangible Assets, Net

Intangible assets as of December 31, 2021 and 2020 consisted of the following (in thousands):

	December 31,			December 31,			Estimated Useful
	2021			2020			Life (in years)
Trade names	$	5,550		$	-			15
Proprietary intellectual property		4,260			-			5
Customer relationships		1,180			-			1
CLIA license		1,307			1,307			3
		12,297			1,307
Less: accumulated amortization		(1,445	)		(73	)
Total intangible assets, net	$	10,852		$	1,234

Amortization expense for acquired intangible assets was $1,372,000 and $73,000 during the years ended December 31, 2021 and 2020, respectively. The estimated future amortization expense of acquired intangible assets as of December 31, 2021 is as follows (in thousands):

Year ended December 31, 2022	$	2,378
Year ended December 31, 2023		1,585
Year ended December 31, 2024		1,222
Year ended December 31, 2025		1,222
Year ended December 31, 2026		890
Thereafter		3,555
	$	10,852