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

Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2020

5. GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Goodwill as of March 31, 2020 and December 31, 2019 was as follows (in thousands):

Intangible assets, net

Intangible assets consisted of the following (in thousands):

	As of March 31, 2020						As of December 31, 2019
	Gross		Accumulated amortization		Net		Gross		Accumulated amortization		Net
Amortizable Intangible Assets:
Developed technology	$	2,711	$	1,080	$	1,631	$	2,775	$	952	$	1,823
Customer relationships		8,777		1,826		6,951		9,077		1,631		7,446
Patent		118		35		83		113		29		84
Total amortizable intangible assets	$	11,606	$	2,941	$	8,665	$	11,965	$	2,612	$	9,353

Amortization expense was $422,000 and $449,000 for the three months ended March 31, 2020 and 2019, respectively.

Total estimated future amortization expense as of March 31, 2020 is as follows (in thousands):