Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

Goodwill

The change in the carrying amount of goodwill during the period ended September 30, 2022 include the following (in thousands):

December 31, 2021	$	39,689
Purchase price allocation adjustment		1,628
Foreign currency fluctuation		(3,724	)
September 30, 2022	$	37,593

Intangible assets, net

Intangible assets, net consist of the following (in thousands, except as indicated):

	Remaining Avg. Useful lives	Gross		Accumulated			Intangible
September 30, 2022:	(in years)	Amount		Amortization			Assets, net
Developed product technology	7	$	69,724	$	(10,380	)	$	59,344
Trademarks and trade names	8		4,974		(792	)		4,182
Customer relationships	4		13,532		(6,344	)		7,188
Distribution network	2		2,413		(1,991	)		422
Total amortized intangible assets			90,643		(19,507	)		71,136
Software in development	n/a		3,340					3,340
In-process research and development	n/a		5,262					5,262
Total intangible assets		$	99,245	$	(19,507	)	$	79,738
		.
	Remaining Avg. Useful lives	Gross		Accumulated			Intangible
December 31, 2021:	(in years)	Amount		Amortization			Assets, net
Developed product technology	12	$	74,543	$	(5,768	)	$	68,775
Trademarks and trade names	10		5,732		(477	)		5,255
Customer relationships	5		14,732		(5,264	)		9,468
Distribution network	3		2,413		(1,840	)		573
Total amortized intangible assets			97,420		(13,349	)		84,071
In-process research and development	n/a		1,203					1,203
Total intangible assets		$	98,623	$	(13,349	)	$	85,274

Total amortization expense attributed to intangible assets was $2.8 million and $7.2 million for the three and nine months ended September 30, 2022, respectively, and $2.3 million and $4.2 million for the three and nine months ended September 30, 2021, respectively. Software in development will be amortized when the projects are complete and the assets are ready for their intended use. In-process research and development assets begin amortizing when the relevant products reach full commercial launch.

Future amortization expense related to intangible assets is as follows (in thousands):

Remainder of 2022	$	2,734
2023		10,936
2024		10,833
2025		10,248
2026		10,248
Thereafter		26,137
	$	71,136