Intangibles Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets are stated at cost or acquisition-date fair value less accumulated amortization and impairment and consist of the following at June 30, 2023 and December 31, 2022 (in thousands):


	As of June 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Intangible Assets, Net
Intangible assets subject to amortization:

Trademarks/Trade name/Patents	$	376	$	(213)	$	—	$	163
Customer Relationships	6,500		(1,589)		—		4,911
Total intangible assets subject to amortization	6,876		(1,802)		—		5,074
Trademarks, not subject to amortization	1,500		—		—		1,500
Total	$	8,376	$	(1,802)	$	—	$	6,574

	As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Intangible Assets, Net
Intangible assets subject to amortization:
Software	$	40,341	$	(13,542)	$	(26,799)	$	—
Trademarks/Trade name/Patents	6,549		(6,044)		(284)		221
Customer Relationships	96,510		(18,647)		(72,519)		5,344
Total intangible assets subject to amortization	143,400		(38,233)		(99,602)		5,565
Trademarks, not subject to amortization	3,038		—		(1,538)		1,500
Total	$	146,438	$	(38,233)	$	(101,140)	$	7,065

Schedule of Estimated Future Amortization Expense of Intangible Assets

Estimated future amortization expense of intangible assets subject to amortization as of June 30, 2023 is as follows (in thousands):


	Amortization
The remainder of 2023	$	496
2024	953
2025	876
2026	871
2027	867
Thereafter	1,011
Total future amortization	$	5,074

Summary of Goodwill Activity

The following table presents changes in the carrying value of goodwill for the Company’s single reporting unit prior to the allocation of goodwill to segments (in thousands).


Balance as of December 31, 2021	$	130,624
March 15, 2022 impairment	(67,190)
Balance prior to segment allocation	63,434
September 30, 2022 impairment	(51,991)
Remaining goodwill to be allocated to segments	$	11,443

The following table presents changes in the carrying value of goodwill for the Company’s segments after the allocation of goodwill to segments through December 31, 2022 (in thousands).


	Delivery Services Segment		Third-Party Payment Processing Referral Services Segment		Total
Goodwill allocation to segments	$	1,907	$	9,536	$	11,443

September 30, 2022 impairment	(1,907)		—		(1,907)
Balance as of December 31, 2022	$	—	$	9,536	$	9,536

The following table presents the carrying value of goodwill for the Company’s segments as of June 30, 2023 (in thousands).


	Delivery Services Segment		Third-Party Payment Processing Referral Services Segment		Total
Balance as of December 31, 2022	$	—	$	9,536	$	9,536
June 30, 2023 impairment	—		(9,536)		(9,536)
Balance as of June 30, 2023	$	—	$	—	$	—

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

Waitr Holdings Inc. 10-Q