Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill

The following table represents the changes to goodwill from December 31, 2021 to December 31, 2023 (in thousands):

	Carrying Amount
Balance as of December 31, 2021	$	118,071
Additions from acquisitions	16,264
Balance as of December 31, 2022	$	134,335
Additions from acquisitions	7,536
Foreign currency translation adjustments	258
Balance as of December 31, 2023	$	142,129

There are no accumulated impairment losses for any period presented.

Intangible Assets

The following tables present details of the Company’s finite-lived intangible assets as of December 31, 2023 and December 31, 2022 (in thousands):

	As of December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	75,455	$	(39,411)	$	36,044
Patents	14,200		(650)		13,550
Assembled workforce	10,000		(7,374)		2,626
Trade name	500		(233)		267
Total intangible assets	$	100,155	$	(47,668)	$	52,487

	As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	72,059	$	(24,240)	$	47,819
Assembled workforce	10,000		(4,042)		5,958
Trade name	500		(133)		367
Total intangible assets	$	82,559	$	(28,415)	$	54,144

The above tables do not include $0.6 million of indefinite lived intangible assets as of December 31, 2023 and December 31, 2022.

As of December 31, 2023, the weighted-average remaining useful lives of our finite-lived intangible assets were 2.4 years for developed technology, 8.7 years for patents, 0.8 years for assembled workforce, 2.7 years for trade names, and 3.2 years in total, for all finite-lived intangible assets.

Amortization expense related to our finite-lived intangible assets was $19.3 million, $16.4 million, and $10.8 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Expected future amortization expenses related to the intangible assets as of December 31, 2023 are as follows (in thousands):

Year ending December 31:
2024	$	18,954
2025	15,727
2026	6,692
2027	3,129
2028	1,934
Thereafter	6,051
Total remaining amortization	$	52,487