Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Note 6 – Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the three months ended March 31, 2024 were as follows (in thousands):

			Software and
	TASER		Sensors		Total
Balance, beginning of period	$	2,984	$	54,961	$	57,945
Goodwill acquired		—		250,653		250,653
Purchase accounting adjustments		—		(231)		(231)
Foreign currency translation adjustments		(37)		140		103
Balance, end of period	$	2,947	$	305,523	$	308,470

Intangible assets (other than goodwill) consisted of the following at March 31, 2024 and December 31, 2023 (in thousands):

		March 31, 2024						December 31, 2023
		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	3 ‑ 10 years	$	3,043		(2,205)	$	838	$	3,043	$	(2,128)	$	915
Issued patents	5 ‑ 25 years		3,147		(1,648)		1,499		3,222		(1,707)		1,515
Trademarks	3 ‑ 15 years		3,214		(935)		2,279		1,333		(817)		516
Customer relationships	4 ‑ 10 years		18,629		(2,719)		15,910		5,530		(3,620)		1,910
Non-compete agreements	3 ‑ 4 years		—		—		—		448		(448)		—
Developed technology	3 ‑ 8 years		82,532		(15,438)		67,094		29,402		(16,562)		12,840
Total amortizable			110,565		(22,945)		87,620		42,978		(25,282)		17,696
Non-amortizable (indefinite-lived) intangible assets:
Trademarks			1,068		—		1,068		1,068		—		1,068
Patents and trademarks pending			731		—		731		775		—		775
Total non-amortizable			1,799		—		1,799		1,843		—		1,843
Total intangible assets		$	112,364	$	(22,945)	$	89,419	$	44,821	$	(25,282)	$	19,539

Amortization expense of intangible assets for the three months ended March 31, 2024 was $3.0 million. Amortization expense of intangible assets for the three months ended March 31, 2023 was $1.0 million. Estimated amortization for intangible assets with definite lives for the remaining nine months of 2024, the next five years ended December 31, and thereafter, is as follows (in thousands):

2024 remaining	$	11,520
2025		12,534
2026		12,336
2027		11,394
2028		11,283
2029		11,098
Thereafter		17,455
Total	$	87,620