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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The following table presents goodwill as of March 31, 2025 (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

18,723

 

 

$

19,696

 

Foreign currency translation adjustment

 

 

654

 

 

 

(353

)

   Total

 

$

19,377

 

 

$

19,343

 

Schedule of Intangible Assets

As of March 31, 2025, intangible assets comprised the following (in thousands):

 

 

 

Estimated Useful Life in Years

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

   Backlog

 

0.25

 

$

757

 

 

$

(757

)

 

$

 

   Customer Relationships

 

1

 

 

3,623

 

 

 

(3,623

)

 

 

 

   Developed Technology

 

7.25

 

 

12,761

 

 

 

(3,521

)

 

 

9,240

 

   Patent

 

3

 

 

250

 

 

 

(142

)

 

 

108

 

   Tradename

 

8

 

 

1,190

 

 

 

(297

)

 

 

893

 

   Total definite-lived intangible assets (1)

 

 

 

$

18,581

 

 

$

(8,340

)

 

$

10,241

 

(1) Foreign intangible asset carrying amounts are affected by foreign currency translation

 

Schedule of Estimated Intangible Asset Amortization Expense

As of March 31, 2025, the estimated intangible asset amortization expense for the next five years and thereafter is as follows:

 

 

Estimated Amortization

 

 

 

(in thousands)

 

2025

 

 

1,494

 

2026

 

 

1,954

 

2027

 

 

1,909

 

2028

 

 

1,909

 

2029

 

 

1,909

 

Thereafter

 

 

1,066

 

Total

 

$

10,241