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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

The change in the carrying amount of goodwill during the period ended September 30, 2024, includes the following (in thousands):

 

December 31, 2023

 

$

73,003

 

Foreign currency fluctuation

 

 

394

 

September 30, 2024

 

$

73,397

 

 

Intangible Assets, Net

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

 

 

Remaining Avg.
Useful lives

 

Gross

 

 

Accumulated

 

 

Intangible

 

September 30, 2024:

 

(in years)

 

Amount

 

 

Amortization

 

 

Assets, net

 

Developed product technology

 

6

 

$

105,916

 

 

$

(35,971

)

 

$

69,945

 

Internally-developed software

 

3

 

 

1,674

 

 

 

(1,480

)

 

 

194

 

Trademarks and trade names

 

7

 

 

5,651

 

 

 

(1,993

)

 

 

3,658

 

Customer relationships

 

2

 

 

14,603

 

 

 

(10,033

)

 

 

4,570

 

Distribution network

 

 

 

2,413

 

 

 

(2,393

)

 

 

20

 

Total amortized intangible assets

 

 

 

 

130,257

 

 

 

(51,870

)

 

 

78,387

 

 

 

 

 

 

 

 

 

 

 

 

 

Software in development

 

n/a

 

 

14,113

 

 

 

 

 

 

14,113

 

In-process research and development

 

n/a

 

 

6,285

 

 

 

 

 

 

6,285

 

Total intangible assets

 

 

 

$

150,655

 

 

$

(51,870

)

 

$

98,785

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

Remaining Avg.
Useful lives

 

Gross

 

 

Accumulated

 

 

Intangible

 

December 31, 2023:

 

(in years)

 

Amount

 

 

Amortization

 

 

Assets, net

 

Developed product technology

 

6

 

$

106,782

 

 

$

(26,560

)

 

$

80,222

 

Trademarks and trade names

 

7

 

 

5,588

 

 

 

(1,561

)

 

 

4,027

 

Customer relationships

 

3

 

 

14,504

 

 

 

(8,692

)

 

 

5,812

 

Distribution network

 

1

 

 

2,413

 

 

 

(2,242

)

 

 

171

 

Total amortized intangible assets

 

 

 

 

129,287

 

 

 

(39,055

)

 

 

90,232

 

 

 

 

 

 

 

 

 

 

 

 

Software in development

 

n/a

 

 

7,934

 

 

 

 

 

 

7,934

 

In-process research and development

 

n/a

 

 

4,285

 

 

 

 

 

 

4,285

 

Total intangible assets

 

 

 

$

141,506

 

 

$

(39,055

)

 

$

102,451

 

Schedule of Intangible Assets, Future Expected Amortization Expense

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

Remainder of 2024

 

$

5,723

 

2025

 

 

15,013

 

2026

 

 

15,013

 

2027

 

 

12,791

 

2028

 

 

10,714

 

Thereafter

 

 

19,133

 

 

 

$

78,387