Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4. Goodwill and Intangible Assets

Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in business combinations accounted for under the purchase method of accounting. The following table presents goodwill as of June 30, 2025 (in thousands):


	Six Months Ended June 30,
	2025		2024
Balance at beginning of period	$	18,723	$	19,696
Foreign currency translation adjustment		2,037		(440	)
Total	$	20,760	$	19,256

As of June 30, 2025, intangible assets comprised the following (in thousands):


	Estimated Useful Life in Years	Gross Carrying Amount		Accumulated Amortization			Net
Definite-lived intangible assets:
Developed Technology	7.25		13,900		(4,314	)		9,586
Patent	3		250		(163	)		87
Tradename	8		1,296		(364	)		932
Total definite-lived intangible assets (1)		$	15,446	$	(4,841	)	$	10,605
(1) Foreign intangible asset carrying amounts are affected by foreign currency translation

We amortize identifiable intangible assets with finite lives over their useful lives on a straight-line basis. Amortization of intangible assets was $0.5 million and $1.0 million for the three and six months ended June 30, 2025, respectively, and $0.5 million and $1.9 million for the three and six months ended June 30, 2024, respectively.

As of June 30, 2025, the estimated intangible asset amortization expense for the next five years and thereafter is as follows:


	Estimated Amortization
	(in thousands)
2025	$	1,081
2026		2,124
2027		2,079
2028		2,079
2029		2,079
Thereafter		1,163
Total	$	10,605