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Goodwill and Intangible Assets, Net (Tables)
6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill

Goodwill as of June 30, 2023 and December 31, 2022 was as follows (in thousands):

 

Balance as of December 31, 2022

 

$

111,526

 

Effect of exchange rate

 

 

379

 

Balance as of June 30, 2023

 

$

111,905

 

Summary of Intangible Assets

Intangible assets consisted of the following (in thousands):

 

 

 

As of June 30, 2023

 

 

As of December 31, 2022

 

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

Amortizable Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

23,772

 

 

$

12,560

 

 

$

11,212

 

 

$

23,895

 

 

$

11,162

 

 

$

12,733

 

Customer relationships

 

 

56,444

 

 

 

20,585

 

 

 

35,859

 

 

 

56,336

 

 

 

17,826

 

 

 

38,510

 

Trade names

 

 

8,599

 

 

 

3,051

 

 

 

5,548

 

 

 

8,658

 

 

 

2,568

 

 

 

6,090

 

Patent

 

 

145

 

 

 

86

 

 

 

59

 

 

 

143

 

 

 

76

 

 

 

67

 

Total amortizable intangible assets

 

$

88,960

 

 

$

36,282

 

 

$

52,678

 

 

$

89,032

 

 

$

31,632

 

 

$

57,400

 

The changes in carrying amounts of intangible assets consisted of the following as of June 30, 2023:

 


 

 

Developed technology

 

 

Customer relationships

 

 

Trade names

 

 

Patent

 

 

Total

 

December 31, 2022

 

$

12,733

 

 

$

38,510

 

 

$

6,090

 

 

$

67

 

 

$

57,400

 

Additions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortizations

 

 

(1,354

)

 

 

(2,694

)

 

 

(475

)

 

 

(9

)

 

 

(4,532

)

Impairments

 

 

(234

)

 

 

 

 

 

(87

)

 

 

 

 

 

(321

)

Foreign exchange

 

 

67

 

 

 

43

 

 

 

20

 

 

 

1

 

 

 

131

 

June 30, 2023

 

$

11,212

 

 

$

35,859

 

 

$

5,548

 

 

$

59

 

 

$

52,678

 

Summary of Estimated Future Amortization Expense

Total estimated future amortization expense as of June 30, 2023 is as follows (in thousands):

 

 

 

As of June 30, 2023

 

2023 (remaining six months)

 

$

4,414

 

2024

 

 

8,857

 

2025

 

 

8,788

 

2026

 

 

8,719

 

2027

 

 

7,239

 

2028 and thereafter

 

 

14,661

 

Total

 

$

52,678