Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in goodwill by reportable segment are outlined below (in thousands):


	Alarm.com		Other		Total
Balance as of January 1, 2024	$	154,498	$	—	$	154,498


Foreign currency translation adjustment	(142)		—		(142)
Balance as of June 30, 2024	$	154,356	$	—	$	154,356

The following table reflects changes in the net carrying amount of the components of intangible assets (in thousands):


	Customer Relationships		Developed Technology		Trade Name		Capitalized Software Development Costs		Other		Total
Balance as of January 1, 2024	$	39,294	$	37,174	$	1,217	$	879	$	—	$	78,564
Intangible assets acquired	—		—		—		—		45		45
Capitalized software development costs	—		—		—		740		—		740
Amortization	(4,837)		(4,106)		(414)		(64)		—		(9,421)
Balance as of June 30, 2024	$	34,457	$	33,068	$	803	$	1,555	$	45	$	69,928

During the three and six months ended June 30, 2024, we paid less than $0.1 million for the purchase of domain names. We recorded $4.7 million and $9.4 million of amortization related to our intangible assets for the three and six months ended June 30, 2024, respectively, as compared to $4.7 million and $9.3 million for the same periods in the prior year. There were no impairments of long-lived intangible assets during the three and six months ended June 30, 2024 and 2023. During the six months ended June 30, 2024, $0.3 million of fully amortized developed technology intangible assets previously acquired were written-off in the Alarm.com segment as the technology was no longer in use.

The following tables reflect the weighted average remaining life and carrying value of finite-lived intangible assets (in thousands, except weighted-average remaining life):


	June 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Weighted- Average Remaining Life (in years)
Customer relationships	$	128,280	$	(93,823)	$	34,457	5.7
Developed technology	69,731		(36,663)		33,068		4.3
Trade name	4,474		(3,671)		803		2.6
Capitalized software development costs	1,622		(67)		1,555		3.0
Other	45		—		45		5.0
Total intangible assets	$	204,152	$	(134,224)	$	69,928	4.9


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Weighted- Average Remaining Life (in years)
Customer relationships	$	128,280	$	(88,986)	$	39,294	6.2
Developed technology	70,061		(32,887)		37,174		4.7
Trade name	4,474		(3,257)		1,217		2.6
Capitalized software development costs	882		(3)		879		3.3
Total intangible assets	$	203,697	$	(125,133)	$	78,564	5.4