Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.24.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Goodwill, carrying amount, as of January 1, 2022
 $ 45,828 
Additions from acquisitions, including reclassification of $254
 35,480 
Impairment (39,643)
Measurement period adjustment (3,426)
Goodwill, carrying amount, as of December 31, 2022
 38,239 
Impairment (7,329)
Goodwill, carrying amount, as of December 31, 2023
 $ 30,910 
Schedule of Finite-Lived Intangible Assets
The components of other intangible assets are as follows:
As of December 31, Estimated Useful
Life
2023 2022
Licenses $ 82,401  $ 82,401  Indefinite
Intellectual Property 9,580  9,580  10 years
Tradenames 12,209  12,800 
5 - 10 years
Patient/Customer database 3,195  3,195 
5 - 10 years
Non-compete 155  155  3 years
Website development 61  61  3 years
Formulations 50  50  Indefinite
Total gross amount 107,651  108,242 
Less: Accumulated Amortization (11,684) (8,160)
Other Intangible Assets, net $ 95,967  $ 100,082 
Schedule of Indefinite-Lived Intangible Assets
The components of other intangible assets are as follows:
As of December 31, Estimated Useful
Life
2023 2022
Licenses $ 82,401  $ 82,401  Indefinite
Intellectual Property 9,580  9,580  10 years
Tradenames 12,209  12,800 
5 - 10 years
Patient/Customer database 3,195  3,195 
5 - 10 years
Non-compete 155  155  3 years
Website development 61  61  3 years
Formulations 50  50  Indefinite
Total gross amount 107,651  108,242 
Less: Accumulated Amortization (11,684) (8,160)
Other Intangible Assets, net $ 95,967  $ 100,082 
Schedule of Future Annual Amortization Expense
The estimated future annual amortization expense related to intangible assets as of December 31, 2023 are as follows:
2024 $ 2,950 
2025 2,919 
2026 2,648 
2027 1,844 
2028 1,779 
Thereafter 1,376 
   Total estimated future amortization expense $ 13,516 
Schedule of Key Assumptions
Year Ended December 31, 2022 Key Assumptions
State Goodwill Impairment Intangible Asset Impairment Perpetual Growth Rate Discount Rate Weighted Average Cost of Capital Cash Flow Forecast
California $ 2,432  $ 10,142  2% 22.5% 21.5% 5 years
Massachusetts
 12,231 37,954 2% 21.0% 20.0% 5 years
Nevada
 24,980 22,150 2% 21.0% 20.0% 5 years
Ohio
 —  5,317 2% 24.5% 23.5% 5 years
Pennsylvania
 —  35,952 2% 22.0% 21.0% 5 years
$ 39,643  $ 111,515