Better Choice Company Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible assets

Intangible assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The Company’s intangible assets (in thousands) and related useful lives (in years) are as follows:


				March 31, 2023				December 31, 2022
	Estimated useful life	Gross carrying amount		Accumulated amortization		Net carrying amount		Accumulated amortization		Net carrying amount
Customer relationships	7	$	7,190	$	(3,371)	$	3,819	$	(3,115)	$	4,075
Trade name	15	7,500		(1,641)		5,859		(1,516)		5,984
Total intangible assets		$	14,690	$	(5,012)	$	9,678	$	(4,631)	$	10,059

Amortization expense was $0.4 million for the for the three months ended March 31, 2023 and March 31, 2022, respectively.

The estimated future amortization of intangible assets over the remaining weighted average useful life of 8.6 years is as follows (in thousands):


Remainder of 2023	$	1,145
2024	1,527
2025	1,527
2026	1,494
2027	500
Thereafter	3,485
	$	9,678

The Company assesses intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be fully recoverable. If impairment indicators are present, the Company performs a recoverability test by comparing the sum of the estimated undiscounted future cash flows attributable to these long-lived assets to their carrying value. There were no indicators of impairment of the intangible assets as of March 31, 2023.