Post-effective amendment to a registration statement that is not immediately effective upon filing

Goodwill and Intangible Assets

v3.22.1
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
10. Goodwill and Intangible Assets
Goodwill
The Company performed an annual qualitative goodwill assessment of the goodwill held related to the BlackSky reporting unit as of October 1, 2021. The Company determined that no triggering events occurred that would require the Company to quantitatively test goodwill for impairment during the year ended December 31, 2021. As of December 31, 2021, the Company believes that the estimated fair values of the BlackSky reporting unit is still in excess of its respective carrying value and therefore is not at-risk of being impaired. To the extent this reporting unit realizes actual operating results in the future below forecasted results, or realize decreases in forecasted results as compared to previous forecasts or, in the event the estimated fair value of the reporting unit decreases (as a result, among other things, of changes in market capitalization, including further declines in the stock price), the Company may incur goodwill impairment charges in the future. Goodwill was as follows:
December 31, 2021 December 31, 2020
(in thousands)
Gross carrying amount $ 9,393  $ 9,393 
Accumulated impairment losses —  — 
Net carrying value of goodwill $ 9,393  $ 9,393 
Intangible Assets
Intangible assets consisted of the following:
Gross Carrying Amount Accumulated Amortization Net Carrying Amount
(in thousands)
December 31, 2021
Customer relationships $ 6,530  $ (4,050) $ 2,480 
Distribution agreements 326  (326) — 
Technology and domain name 4,054  (4,054) — 
Total intangible assets at December 31, 2021 $ 10,910  $ (8,430) $ 2,480 
December 31, 2020
Customer relationships $ 6,530  $ (3,489) $ 3,041 
Distribution agreements 326  (326) — 
Technology and domain name 4,047  (3,257) 790 
Total intangible assets at December 31, 2020 $ 10,903  $ (7,072) $ 3,831 
For each of the years ended December 31, 2021 and 2020, amortization expense related to intangible assets was $1.4 million. These amounts were included in depreciation and amortization expense in the consolidated statements of operations and comprehensive loss. The Company estimates that it will have the following amortization expense for the future periods indicated below:
For the years ending December 31: (in thousands)
2022 561 
2023 561 
2024 561 
2025 561 
2026 236 
Total 2,480