Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Acquired Intangible Assets

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Goodwill and Acquired Intangible Assets
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2022.

 

 

ProPhase Labs, Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

(unaudited)

 

Intangible Assets, Net

 

Intangible assets as of June 30, 2022 and December 31, 2021 consisted of the following (in thousands):

 

                         
           

Estimated Useful

  
    June 30, 2022     December 31, 2021     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     (2,863 )     (1,445 )        
Total intangible assets, net   $ 9,434     $ 10,852          

 

Amortization expense for acquired intangible assets was $709,000 and $109,000 during the three months ended June 30, 2022 and 2021, respectively. Amortization expense for acquired intangible assets was $1.4 million and $207,000 during the six months ended June 30, 2022 and 2021, respectively. The estimated future amortization expense of acquired intangible assets as of June 30, 2022 is as follows (in thousands):

 

         
Remaining periods in the year ended December 31, 2022   $ 960  
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   $ 9,434