Similarweb Ltd. Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Goodwill and Intangible assets, net

12 Months Ended

Dec. 31, 2022

Goodwill

The following table represents the changes to goodwill:


	Carrying Amount

Balance as of December 31, 2020	$	2,868
Additions from acquisitions	8,450
Balance as of December 31, 2021	$	11,318
Additions from acquisitions	2,036
Adjustments during the measurement period	(487)
Balance as of December 31, 2022	$	12,867

Intangible Assets, Net

Intangible assets, net consisted of the following:


	December 31, 2021			December 31, 2022
	Intangible Assets		Weighted- Average Remaining Useful Life	Intangible Assets		Weighted- Average Remaining Useful Life
Developed technology	$	797	2.21	$	2,832	1.93
Customer relationships	17		3.00	440		2.69
Database	208		1.96	208		1.00
User panel	11,202		2.87	11,202		1.92
Brand name	—		0	59		1.38
Total intangible assets	12,224		2.51	14,741		1.78
Less: accumulated amortization	(607)			(5,180)
Total intangible assets, net	$	11,617		$	9,561

Amortization expenses amounted to $607 and $4,573, for the years ended December 31, 2021 and 2022.

As of December 31, 2022, the expected future amortization expenses for the intangible assets are as follows: