Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 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 six months ended June 30, 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		—		(425)		(425)
Foreign currency translation adjustments		(76)		(339)		(415)
Balance, end of period	$	2,908	$	304,850	$	307,758

Intangible assets (other than goodwill) consisted of the following at June 30, 2024 and December 31, 2023 (in thousands):

		June 30, 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	$	(2,281)	$	762	$	3,043	$	(2,128)	$	915
Issued patents	5 ‑ 25 years		3,157		(1,704)		1,453		3,222		(1,707)		1,515
Trademarks	3 ‑ 15 years		3,214		(1,124)		2,090		1,333		(817)		516
Customer relationships	4 ‑ 10 years		18,624		(3,222)		15,402		5,530		(3,620)		1,910
Non-compete agreements	3 ‑ 4 years		—		—		—		448		(448)		—
Developed technology	3 ‑ 8 years		82,532		(18,457)		64,075		29,402		(16,562)		12,840
Total amortizable intangible assets			110,570		(26,788)		83,782		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			721		—		721		775		—		775
Total non-amortizable intangible assets			1,789		—		1,789		1,843		—		1,843
Total intangible assets		$	112,359	$	(26,788)	$	85,571	$	44,821	$	(25,282)	$	19,539

Amortization expense of intangible assets for the three and six months ended June 30, 2024 was $3.9 million and $6.9 million, respectively. Amortization expense of intangible assets for the three and six months ended June 30, 2023 was $1.0 million and $1.9 million, respectively. Estimated amortization for intangible assets with definite lives for the remaining six months of 2024, the next five years ended December 31, and thereafter, is as follows (in thousands):

2024 remaining	$	7,679
2025		12,532
2026		12,335
2027		11,394
2028		11,283
2029		11,099
Thereafter		17,460
Total	$	83,782