MARKETWISE, INC. Goodwill & Intangibles Disclosure
Balance at January 1, 2023 | $ | 31,307 | |||
Acquisition of Investor Channel | 85 | ||||
Sale of Buttonwood Publishing | (354) | ||||
Balance at December 31, 2023 | 31,038 | ||||
| Acquisition of MPP | 2,522 | ||||
| Disposal of MPP and other Legacy Research Brands | (3,517) | ||||
Balance at December 31, 2024 | 30,043 | ||||
Balance at December 31, 2025 | 30,043 | ||||
| As of December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| 1729 Research | $ | — | $ | 14,190 | |||||||
| Alta | — | 13,005 | |||||||||
| Altimetry | 866 | — | |||||||||
| Brownstone Research | 2,848 | 2,848 | |||||||||
| Chaikin Resources | 8,412 | — | |||||||||
| InvestorPlace | 4,923 | — | |||||||||
| Stansberry Research | 4,912 | — | |||||||||
| TradeSmith | 8,082 | — | |||||||||
| December 31, 2025 | |||||||||||||||||||||||
| Cost | Accumulated Amortization | Net Book Value | Weighted-Average Remaining Useful Life (in years) | ||||||||||||||||||||
| Finite-lived intangible assets: | |||||||||||||||||||||||
| Customer relationships | $ | 12,443 | $ | (11,754) | $ | 689 | 1.2 | ||||||||||||||||
| Tradenames | 3,588 | (3,227) | 361 | 3.1 | |||||||||||||||||||
| Capitalized software development costs | 6,438 | (4,762) | 1,676 | 1.7 | |||||||||||||||||||
| Finite-lived intangible assets, net | 22,469 | (19,743) | 2,726 | ||||||||||||||||||||
| Indefinite-lived intangible assets: | |||||||||||||||||||||||
| Internet domain names | 1,087 | — | 1,087 | ||||||||||||||||||||
| Indefinite-lived intangible assets, net | 1,087 | — | 1,087 | ||||||||||||||||||||
| Intangible assets, net | $ | 23,556 | $ | (19,743) | $ | 3,813 | |||||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||
| Cost | Accumulated Amortization | Net Book Value | Weighted-Average Remaining Useful Life (in years) | ||||||||||||||||||||
| Finite-lived intangible assets: | |||||||||||||||||||||||
| Customer relationships | $ | 12,443 | $ | (11,087) | $ | 1,356 | 2.1 | ||||||||||||||||
| Tradenames | 3,588 | (2,921) | 667 | 3.2 | |||||||||||||||||||
| Capitalized software development costs | 5,262 | (3,699) | 1,563 | 2.8 | |||||||||||||||||||
| Finite-lived intangible assets, net | 21,293 | (17,707) | 3,586 | ||||||||||||||||||||
| Indefinite-lived intangible assets: | |||||||||||||||||||||||
| Internet domain names | 1,087 | — | 1,087 | ||||||||||||||||||||
| Indefinite-lived intangible assets, net | 1,087 | — | 1,087 | ||||||||||||||||||||
| Intangible assets, net | $ | 22,380 | $ | (17,707) | $ | 4,673 | |||||||||||||||||
| 2026 | $ | 1,839 | |||
| 2027 | 473 | ||||
| 2028 | 359 | ||||
| 2029 | 53 | ||||
| 2030 | 1 | ||||
| Thereafter | 1 | ||||
| Finite-lived intangible assets, net | $ | 2,726 | |||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 7, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 10, 2022 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.