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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

The change in the carrying amount of goodwill during the period ended September 30, 2023 includes the following (in thousands):

 

December 31, 2022

 

$

47,367

 

Additions

 

 

24,582

 

Foreign currency fluctuation

 

 

(394

)

September 30, 2023

 

$

71,555

 

 

Intangible Assets, Net

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

 

 

Remaining Avg.
Useful lives

 

Gross

 

 

Accumulated

 

 

Intangible

 

September 30, 2023:

 

(in years)

 

Amount

 

 

Amortization

 

 

Assets, net

 

Developed product technology

 

6

 

$

102,211

 

 

$

(22,512

)

 

$

79,699

 

Trademarks and trade names

 

7

 

 

5,359

 

 

 

(1,370

)

 

 

3,989

 

Customer relationships

 

3

 

 

14,141

 

 

 

(8,150

)

 

 

5,991

 

Distribution network

 

1

 

 

2,413

 

 

 

(2,192

)

 

 

221

 

Total amortized intangible assets

 

 

 

 

124,124

 

 

 

(34,224

)

 

 

89,900

 

 

 

 

 

 

 

 

 

 

 

 

 

Software in development

 

n/a

 

 

5,659

 

 

 

 

 

 

5,659

 

In-process research and development

 

n/a

 

 

6,637

 

 

 

 

 

 

6,637

 

Total intangible assets

 

 

 

$

136,420

 

 

$

(34,224

)

 

$

102,196

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

Remaining Avg.
Useful lives

 

Gross

 

 

Accumulated

 

 

Intangible

 

December 31, 2022:

 

(in years)

 

Amount

 

 

Amortization

 

 

Assets, net

 

Developed product technology

 

7

 

$

75,896

 

 

$

(13,420

)

 

$

62,476

 

Trademarks and trade names

 

8

 

 

5,421

 

 

 

(987

)

 

 

4,434

 

Customer relationships

 

4

 

 

14,240

 

 

 

(6,906

)

 

 

7,334

 

Distribution network

 

2

 

 

2,413

 

 

 

(2,041

)

 

 

372

 

Total amortized intangible assets

 

 

 

 

97,970

 

 

 

(23,354

)

 

 

74,616

 

 

 

 

 

 

 

 

 

 

 

 

Software in development

 

n/a

 

 

2,503

 

 

 

 

 

 

2,503

 

In-process research and development

 

n/a

 

 

5,662

 

 

 

 

 

 

5,662

 

Total intangible assets

 

 

 

$

106,135

 

 

$

(23,354

)

 

$

82,781

 

Schedule of Intangible Assets, Future Expected Amortization Expense

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

Remainder of 2023

 

$

5,691

 

2024

 

 

16,064

 

2025

 

 

14,575

 

2026

 

 

14,575

 

2027

 

 

12,703

 

Thereafter

 

 

26,292

 

 

 

$

89,900