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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

The following table summarizes the activity related to goodwill (in thousands):

 

 

June 30,

 

 

 

2022

 

 

2021

 

Balance at beginning of period, gross

 

$

7,148

 

 

$

4,980

 

Accumulated impairment at beginning of period

 

 

(1,003

)

 

 

(1,003

)

Goodwill from acquisitions

 

 

22,803

 

 

 

1,698

 

Foreign exchange impact

 

 

29

 

 

 

 

Balance at end of period

 

$

28,977

 

 

$

5,675

 

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

 

 

June 30, 2022

 

 

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

Developed technology

 

$

10,807

 

 

$

(3,750

)

 

$

7,057

 

Customer relationships

 

 

18,230

 

 

 

(3,266

)

 

 

14,964

 

In-process research and development

 

 

890

 

 

 

(251

)

 

 

639

 

Tradenames

 

 

500

 

 

 

(4

)

 

 

496

 

Total intangible assets, net

 

$

30,427

 

 

$

(7,271

)

 

$

23,156

 

 

 

 

December 31, 2021

 

 

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

Developed technology

 

$

5,007

 

 

$

(3,464

)

 

$

1,543

 

Customer relationships

 

 

5,730

 

 

 

(2,886

)

 

 

2,844

 

In-process research and development

 

 

890

 

 

 

(162

)

 

 

728

 

Total intangible assets, net

 

$

11,627

 

 

$

(6,512

)

 

$

5,115

 

Future Amortization Expense of Intangible Assets

The following table presents the future amortization expense of the Company’s intangible assets as of June 30, 2022 (in thousands):

Remainder of 2022

 

$

1,610

 

2023

 

 

3,220

 

2024

 

 

3,220

 

2025

 

 

3,220

 

2026

 

 

2,449

 

Thereafter

 

 

9,437

 

Total

 

$

23,156