Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired less liabilities assumed arising from business combinations. The Company believes the goodwill represents the synergies expected from expanded market opportunities when integrating with its offerings.

The changes in the carrying amount of goodwill for the six months ended June 30, 2025 is due to the Cyral acquisition. For additional information regarding the acquisition, see Note 4.

The following table reflects goodwill activity for the six months ended June 30, 2025 (in thousands):


	Amount (unaudited)
Balance at December 31, 2024	$	23,135
Goodwill acquired	16,615
Balance at June 30, 2025	$	39,750

Intangible Assets

Total cost and amortization of intangible assets is comprised of the following (in thousands, except useful life):


	Estimated Useful Life	June 30, 2025
Intangible assets, net	(in years)	(unaudited)
Developed technology & non-compete	9	$	6,040
Total intangible assets		6,040
Less: Accumulated amortization		(196)
Total intangible assets, net		$	5,844

Intangible assets are expensed on a straight-line basis over the useful life of the asset. The Company recorded amortization expense of $170 and $196 for the three and six months ended June 30, 2025, respectively, and $381 and $762 for the three and six months ended June 30, 2024, respectively.

The following table summarizes estimated future amortization expense of the Company's intangible assets as of June 30, 2025 (in thousands):


	Amount
Years ending December 31,	(unaudited)
2025	$	340
2026	680
2027	680
2028	669
2029	667
Thereafter	2,808
Total future amortization expense	$	5,844