Goodwill and Intangibles

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

3. Goodwill and Intangibles

Goodwill

There have been no changes to the $50,177 carrying amount of goodwill since December 31, 2020.

Intangible Assets

Identifiable intangible assets consist of developed technology, amortized over seven years using a straight-line amortization method; customer relationships, amortized over ten years using a straight-line amortization method; and a trade name, amortized over three years using a straight-line amortization method. The weighted-average life of these identifiable intangible assets recognized is 8.2 years. In addition, intangible assets include purchased software to be used in the Company's products, amortized over three years using a straight-line amortization. Intangible assets are not deductible for tax purposes.

Intangible assets, net consisted of the following at December 31, 2022 and 2021, respectively:


	As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		25,000		(12,502	)		12,498
Customer relationships		18,000		(6,300	)		11,700
Trade name		1,000		(1,000	)		—
Purchased software		2,545		(984	)		1,561
Totals as of December 31, 2022	$	46,545	$	(20,786	)	$	25,759


	As of December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		25,000		(8,930	)		16,070
Customer relationships		18,000		(4,500	)		13,500
Trade name		1,000		(830	)		170
Purchased software		1,832		(428	)		1,404
Totals as of December 31, 2021	$	45,832	$	(14,688	)	$	31,144

As of December 31, 2022, amortization expense on existing intangible assets for the next five years and beyond is summarized as follows:


Year Ending December 31,
2023	$	6,002
2024		5,899
2025		5,754
2026		3,604
2027		1,800
Thereafter		2,700
	$	25,759

A summary of amortization expense recorded during the years ended December 31, 2022 and 2021 is as follows:


	Year Ended December 31,
	2022		2021		2020
Product cost of revenue	$	3,572	$	3,572	$	3,571
Research and development		556		396		32
Selling, general and administrative		1,970		2,132		2,133
Totals	$	6,098	$	6,100	$	5,736