Goodwill and Acquired Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Goodwill and Acquired Intangible Assets

Acquired intangible assets subject to amortization consist of the following (in thousands):

	As of June 30, 2022
	Cost		Accumulated Amortization		Net		Weighted Average Remaining Useful Life
							(In years)
Developed technology	$	28,000	$	(16,089)	$	11,911	2.5
Customer relationships	14,300		(9,517)		4,783		3.0
	$	42,300	$	(25,606)	$	16,694

	As of December 31, 2021
	Cost		Accumulated Amortization		Net		Weighted Average Remaining Useful Life
							(In years)
Developed technology	$	28,000	$	(13,734)	$	14,266	3.0
Customer relationships	14,300		(8,233)		6,067		3.2
	$	42,300	$	(21,967)	$	20,333

Amortization expense of acquired intangible assets was $2 million for each of the three months ended June 30, 2022 and 2021, and $4 million for each of the six months ended June 30, 2022 and 2021.

Estimated future amortization expense as of June 30, 2022 is as follows (in thousands):

Remainder of 2022	$	3,658
2023	6,579
2024	4,837
2025	972
2026	488
Thereafter	160
	$	16,694

As of June 30, 2022 and December 31, 2021, the carrying amount of goodwill was $177 million. There was no material change to the carrying amount of goodwill for the six months ended June 30, 2022.