Accolade, Inc. - 10-Q filing on 2021-07-08

Goodwill and Intangible Assets

3 Months Ended

May 31, 2021

(5) Goodwill and Intangible Assets

The following table presents changes in the carrying amount of goodwill for the three months ended May 31, 2021:

Intangible assets consist of the following as of May 31, 2021:


		As of May 31, 2021
	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life
Customer relationships	20 years	$	120,000	$	(1,750)	$	118,250	19.8 years
Technology	2 to 5 years		60,900		(5,558)		55,342	4.7 years
Supplier-based network	5 years		25,000		(1,250)		23,750	4.8 years
Trade name	10 years		3,400		(85)		3,315	9.8 years
Non-compete agreement	3 years		3,100		(259)		2,841	2.8 years
		$	212,400	$	(8,902)	$	203,498

Amortization expense for intangible assets was $6,605 and $362 for the three months ended May 31, 2021 and 2020, respectively.