Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

The carrying value of goodwill was $6.2 million as of September 30, 2021 and December 31, 2020.

Acquired intangible assets consist of developed technology and customer relationships and are amortized on a straight-line basis over their estimated useful lives. The following tables summarize acquired intangible assets as of September 30, 2021 and December 31, 2020:

	September 30, 2021
	Gross Amount		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life
	(amounts in thousands)						(in years)
Developed technology	$	10,496	$	(8,157)	$	2,339	0.9
Customer relationships	1,600		(954)		646		1.7
Total	$	12,096	$	(9,111)	$	2,985

	December 31, 2020
	Gross Amount		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life
	(amounts in thousands)						(in years)
Developed technology	$	10,496	$	(5,218)	$	5,278	1.5
Customer relationships	1,600		(655)		945		2.4
Total	$	12,096	$	(5,873)	$	6,223

Total amortization of acquired intangible assets was $1.1 million and $1.1 million for the three months ended September 30, 2021 and 2020, respectively; and $3.3 million and $3.1 million for the nine months ended September 30, 2021 and 2020, respectively.

The Company recorded amortization of developed technology totaling $1.0 million and $1.0 million for the three months ended September 30, 2021 and 2020, respectively; and $3.0 million and $2.8 million for the nine months ended September 30, 2021 and 2020, respectively, as cost of revenue in each of the respective periods in the condensed consolidated statements of operations.

The Company recorded amortization of customer relationships totaling $0.1 million and $0.1 million for the three months ended September 30, 2021 and 2020, respectively, and $0.3 million and $0.3 million for the nine months ended September 30, 2021 and 2020, respectively as sales and marketing expense in each of the respective periods in the condensed consolidated statements of operations.

Expected future amortization expense related to acquired intangible assets is as follows (in thousands):

As of September 30,	Amortization Expense
2021 (remaining three months)	$	1,091
2022	1,591
2023	303
Total future amortization	$	2,985