Goodwill and Acquired Intangible Assets

9 Months Ended

Sep. 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 September 30, 2022
	Cost		Accumulated Amortization		Net		Weighted Average Remaining Useful Life
							(In years)
Developed technology	$	28,000	$	(17,267)	$	10,733	2.3
Customer relationships	14,300		(10,159)		4,141		2.9
	$	42,300	$	(27,426)	$	14,874

	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 September 30, 2022 and 2021, and $5 million for each of the nine months ended September 30, 2022 and 2021.

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

Remainder of 2022	$	1,838
2023	6,579
2024	4,837
2025	972
2026	488
Thereafter	160
	$	14,874

As of September 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 nine months ended September 30, 2022.