Goodwill and Acquired Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Note 4 – Goodwill and Acquired Intangible Assets

Goodwill

There were no changes in goodwill for the three months ended March 31, 2022.

ProPhase Labs, Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

(unaudited)

Intangible Assets, Net

Intangible assets as of March 31, 2022 and December 31, 2021 consisted of the following (in thousands):

	March 31, 2022			December 31, 2021			Estimated Useful Life (in years)
Trade names	$	5,550		$	5,550		15
Proprietary intellectual property		4,260			4,260		5
Customer relationships		1,180			1,180		1
CLIA license		1,307			1,307		3
		12,297			12,297
Less: accumulated amortization		(2,154	)		(1,445	)
Total intangible assets, net	$	10,143		$	10,852

Amortization expense for acquired intangible assets was $709,000 and $109,000 during the three months ended March 31, 2022 and 2021, respectively. The estimated future amortization expense of acquired intangible assets as of March 31, 2022 is as follows (in thousands):

Remaining periods ended December 31, 2022	$	1,669
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
	$	10,143