Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Note 7 - Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the year ended December 31, 2023 were as follows (in thousands):

			Software and
	TASER		Sensors		Total
Balance, beginning of period	$	2,957	$	42,026	$	44,983
Goodwill acquired		—		12,751		12,751
Purchase accounting adjustments		—		(19)		(19)
Foreign currency translation adjustments		27		203		230
Balance, end of period	$	2,984	$	54,961	$	57,945

Intangible assets (other than goodwill) consisted of the following at December 31, 2023 and December 31, 2022 (in thousands):

		December 31, 2023						December 31, 2022
		Gross				Net		Gross				Net
	Useful	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Life	Amount		Amortization		Amount		Amount		Amortization		Amount
Amortizable (definite-lived) intangible assets:
Domain names	5 ‑ 10 years	$	3,043	$	(2,128)	$	915	$	3,043	$	(1,823)	$	1,220
Issued patents	5 ‑ 25 years		3,222		(1,707)		1,515		2,981		(1,507)		1,474
Issued trademarks	3 ‑ 15 years		1,333		(817)		516		1,119		(713)		406
Customer relationships	4 ‑ 8 years		5,530		(3,620)		1,910		4,892		(2,995)		1,897
Non-compete agreements	3 ‑ 4 years		448		(448)		—		447		(447)		—
Developed technology	3 ‑ 5 years		29,402		(16,562)		12,840		18,586		(13,244)		5,342
Total amortizable			42,978		(25,282)		17,696		31,068		(20,729)		10,339
Non-amortizable (indefinite-lived) intangible assets:
Trademarks			1,068		—		1,068		1,068		—		1,068
Patents and trademarks pending			775		—		775		751		—		751
Total non-amortizable			1,843		—		1,843		1,819		—		1,819
Total intangible assets		$	44,821	$	(25,282)	$	19,539	$	32,887	$	(20,729)	$	12,158

Amortization expense of intangible assets was $4.5 million, $4.0 million and $2.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated amortization for intangible assets with definitive lives for the next five years ended December 31, and thereafter, is as follows (in thousands):

2024	$	5,210
2025		2,375
2026		2,176
2027		1,814
2028		1,755
Thereafter		4,366
Total	$	17,696