Kaleyra, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

6. GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Goodwill as of September 30, 2021 and December 31, 2020 was as follows (in thousands):

Balance as of December 31, 2020	$	16,657
Goodwill additions related to 2021 acquisitions		94,361
Effect of exchange rate		(361	)
Balance as of September 30, 2021	$	110,657

Intangible assets, net

Intangible assets consisted of the following (in thousands):

	As of September 30, 2021						As of December 31, 2020
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Amortizable Intangible Assets:
Developed technology	$	40,585	$	3,748	$	36,837	$	2,742	$	1,576	$	1,166
Customer relationships		86,842		6,179		80,663		8,925		2,598		6,327
Trade names		13,060		544		12,516		—		—		—
Patent		128		59		69		130		49		81
Total amortizable intangible assets	$	140,615	$	10,530	$	130,085	$	11,797	$	4,223	$	7,574

Amortization expense was $4.2 million and $406,000 for the three months ended September 30, 2021 and 2020, respectively, and $6.4 million and $1.2 million for the nine months ended September 30, 2021 and 2020, respectively.

Total estimated future amortization expense as of September 30, 2021 is as follows (in thousands):

	As of September 30, 2021
2021 (remaining three months)	$	4,292
2022		17,122
2023		17,020
2024		16,817
2025		16,604
2026 and thereafter		58,230
Total	$	130,085