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

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill (Tables)

Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2021

Intangible Assets and Goodwill

Schedule of intangible assets


		Weighted
		Average		Intangible						Intangible
		Useful Life		Assets,			Accumulated			Assets,
		(in years)		gross			Amortization			Net
Customer relationships		9.0		$	48,590		$	(5,006)		$	43,584
Acquired technology		6.0			19,565			(8,008)			11,557
Trademarks and tradenames		9.0			23,873			(2,009)			21,864
Non-compete agreements		2.0			410			(179)			231
Value of business acquired		1.0			400			(194)			206
Renewal rights		8.0			9,734			(486)			9,248
Insurance licenses		Indefinite			4,960			—			4,960
Total intangible assets				$	107,532		$	(15,882)		$	91,650

Intangible assets consist of the following, as of December 31, 2020:


		Weighted
		Average		Intangible						Intangible
		Useful Life		Assets,			Accumulated			Assets,
		(in years)		gross			Amortization			Net
Customer relationships		7.0		$	8,440		$	(2,173)		$	6,267
Acquired technology		6.0			12,170			(5,481)			6,689
Trademarks and tradenames		9.0			3,688			(893)			2,795
Non-compete agreements		2.0			225			(15)			210
Total intangible assets				$	24,523		$	(8,562)		$	15,961

Summary of changes in the carrying amount of goodwill


		Goodwill
Balance as of December 31, 2020		$	28,289
Acquisitions			142,750
Purchase price adjustments			(612)
Balance as of September 30, 2021		$	170,427