Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS (Tables)

v3.22.1
GOODWILL AND INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill
The changes in goodwill are as follows:
 
  March 31, 2022 December 31,
2021
Balance, beginning of period $ 125,401  $ 62,951 
Goodwill additions and measurement period adjustments 7,099  62,450 
Balance, end of period $ 132,500  $ 125,401 
Schedule of intangible assets
A summary of intangible assets is as follows:
Weighted-Average
Amortization Period
of Intangible Assets
as of March 31, 2022
(in years)
Trade names 3.92
Patents 3.83
Customer relationships 5.12
Non-competes 3.20
Intellectual property 3.92
Total 4.34

Intangible assets consist of the following:
 
  March 31, 2022 December 31, 2021
  Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Trade names $ 28,774  $ (6,377) $ 28,300  $ (4,948)
Patents 100  (45) 100  (42)
Customer relationships 27,569  (4,157) 25,175  (3,055)
Non-competes 1,639  (335) 1,384  (233)
Intellectual property 2,065  (447) 2,065  (344)
Total $ 60,147  $ (11,361) $ 57,024  $ (8,622)
Schedule of future amortization expense
Amortization expense for the three months ended March 31, 2022 and 2021 was $2.7 million and $1.4 million, respectively. 
Future amortization expense is as follows:  
2022, remainder $ 8,414 
2023 11,217 
2024 11,094 
2025 10,700 
2026 5,654 
Thereafter 1,707 
Total $ 48,786