Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill

The following table summarizes the changes in carrying amount of goodwill (in thousands):
Amount
Balance as of December 31, 2021 $ — 
Acquisition activity 431 
Balance as of December 31, 2022 $ 431 

The Company determined no impairment existed for goodwill for the year ended December 31, 2022.

Intangible Assets

The following table summarizes the components of preliminary gross assets, accumulated amortization, and net carrying values for definite and indefinite lived intangible asset balances as of December 31, 2022:
December 31, 2022
Gross Carrying Amount Accumulated Amortization Net Carrying Amount
Developed technology $ 2,310  $ (22) $ 2,288 
Trade name 2,310  N/A 2,310 
Intellectual property 460  —  460 
Customer relationships 140  (1) 139 
Below market lease 20  $ —  $ 20 
   Total intangible assets $ 5,240  $ (23) $ 5,217 

Definite lived intangible assets are amortized over their estimated lives using the straight line method, which is estimated as 8 years for developed technology, 12 years for intellectual property, 8 years for customer relationships and 1 year for below market lease. The acquired trade name was estimated to have an indefinite life, and consequently, no amortization expense was recorded. The Company determined no impairment existed for intangible assets for the year ended December 31, 2022.

The estimated future amortization expenses related to definite lived intangible assets as of December 31, 2022 is as follows (in thousands):

Fiscal Year Amount
2023 $ 325 
2024 306 
2025 345 
2026 345 
2027 345 
2028 and thereafter 1,241 
  Total $ 2,907