Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

9. Goodwill and Intangible Assets

Goodwill

The change in the carrying amount of goodwill during the year ended December 31, 2024 was as follows:

	(in thousands)
Balance as of December 31, 2023	$	26,299
Goodwill acquired	15,875
Balance as of December 31, 2024	$	42,174

There was no change in the carrying amount of goodwill during the year ended December 31, 2023.

Acquired Intangible Assets

Acquired intangible assets consisted of the following:

	December 31, 2024
	Gross carrying value		Accumulated amortization		Net carrying value		Weighted-average remaining useful life (years)
	(in thousands, except year data)
Developed technology	$	47,460	$	22,051	$	25,409	2.6
Other intangible assets	600		600		—		—
Total acquired intangible assets	$	48,060	$	22,651	$	25,409

	December 31, 2023
	Gross carrying value		Accumulated amortization		Net carrying value		Weighted-average remaining useful life (years)
	(in thousands, except year data)
Developed technology	$	43,160	$	12,973	$	30,187	3.6
Other intangible assets	600		467		133		0.3
Total acquired intangible assets	$	43,760	$	13,440	$	30,320

Amortization expense was $9.2 million and $9.0 million for the years ended December 31, 2024 and 2023, respectively. Amortization expense was immaterial for the year ended December 31, 2022.

The estimated future amortization expense related to acquired intangible assets as of December 31, 2024 was as follows:

	(in thousands)
2025	$	9,913
2026	9,913
2027	5,583
Total	$	25,409