Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Acquired Intangible Assets

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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
 Total intangible assets, gross     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  
 Total intangible assets, net   $ 10,143