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, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

5. GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Goodwill as of September 30, 2020 and December 31, 2019 was as follows (in thousands):

Balance as of December 31, 2019	$	16,953
Effect of exchange rate		(395	)
Balance as of September 30, 2020	$	16,558

Intangible assets, net

Intangible assets consisted of the following (in thousands):

	As of September 30, 2020						As of December 31, 2019
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Amortizable Intangible Assets:
Developed technology	$	2,731	$	1,408	$	1,323	$	2,775	$	952	$	1,823
Customer relationships		8,873		2,341		6,532		9,077		1,631		7,446
Patent		126		44		82		113		29		84
Total amortizable intangible assets	$	11,730	$	3,793	$	7,937	$	11,965	$	2,612	$	9,353

Amortization expense was $406,000 and $440,000 for the three months ended September 30, 2020 and 2019, respectively, and $1.2 million and $1.3 million for the nine months ended September 30, 2020 and 2019, respectively.

Total estimated future amortization expense as of September 30, 2020 is as follows (in thousands):

	As of September 30, 2020
2020 (remaining three months)	$	417
2021		1,425
2022		1,149
2023		1,044
2024		842
2025 and thereafter		3,060
Total	$	7,937