Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.24.0.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Intangible Assets, Gross (Excluding Goodwill) [Abstract]  
Changes in Carrying Value of Goodwill
The changes in the carrying value of goodwill are as follows:

Goodwill balance, December 31, 2022 $ 39,445 
Adjustment(1) 100 
Foreign currency translation 828 
Goodwill balance, December 31, 2023 $ 40,373 
(1) Represents a measurement period adjustment made during the year ended December 31, 2023. See Note 3 for additional information.
Schedule of Indefinite-Lived Intangible Assets
The following table presents information about the Company's intangible assets as of:

December 31, 2023 December 31, 2022
Estimated Useful Life
Gross
Carrying
Amount
Accumulated
Amortization

 
Net
Gross
Carrying
Amount

Accumulated
Amortization

Net
Exclusive rights to air transportation services(1)(2)
5-12 years
 $ 18,946  $ (8,042) $ 10,904  $ 38,594  $ (3,473) $ 35,121 
Customer list(1)
3-10 years
 12,094  (3,653) 8,441  12,077  (2,346) 9,731 
Domain name Indefinite 504  —  504  504  —  504 
Trademarks
6-10 years
 1,006  (392) 614  1,006  (136) 870 
Developed technology
3 years
 250  (194) 56  250  (111) 139 
Total $ 32,800  $ (12,281) $ 20,519  $ 52,431  $ (6,066) $ 46,365 
(1) Includes intangible assets associated with the acquisition of Blade Europe. See Note 3 for additional information.
(2) Exclusive rights to air transportation services include exclusive rights to Helijet’s scheduled passenger routes in Canada acquired in 2021.
Schedule of Finite-Lived Intangible Assets
The following table presents information about the Company's intangible assets as of:

December 31, 2023 December 31, 2022
Estimated Useful Life
Gross
Carrying
Amount
Accumulated
Amortization

 
Net
Gross
Carrying
Amount

Accumulated
Amortization

Net
Exclusive rights to air transportation services(1)(2)
5-12 years
 $ 18,946  $ (8,042) $ 10,904  $ 38,594  $ (3,473) $ 35,121 
Customer list(1)
3-10 years
 12,094  (3,653) 8,441  12,077  (2,346) 9,731 
Domain name Indefinite 504  —  504  504  —  504 
Trademarks
6-10 years
 1,006  (392) 614  1,006  (136) 870 
Developed technology
3 years
 250  (194) 56  250  (111) 139 
Total $ 32,800  $ (12,281) $ 20,519  $ 52,431  $ (6,066) $ 46,365 
(1) Includes intangible assets associated with the acquisition of Blade Europe. See Note 3 for additional information.
(2) Exclusive rights to air transportation services include exclusive rights to Helijet’s scheduled passenger routes in Canada acquired in 2021.
Schedule of Estimated Amortization Expense
As of December 31, 2023, the estimated amortization expense of its finite-lived intangible assets for each of the next five years are as follows:

For the Year Ended December 31,
2024 $ 4,440 
2025 4,315 
2026 3,994 
2027 1,761 
2028 1,649