Intangible Assets, Net

6 Months Ended

Jun. 30, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

3. Intangible assets, net

Intangible assets other than goodwill consist of the following:


		June 30, 2024							December 31, 2023
(In thousands)	Amortization period	Gross amount		Accumulated amortization			Net		Gross amount		Accumulated amortization			Net
Software developed for internal use	5-10 years	$	69,165	$	(33,678	)	$	35,487	$	63,545	$	(29,142	)	$	34,403

The gross amount associated with software developed for internal use represents capitalized costs of internally-developed software, including eligible salaries and staff benefits, share-based compensation, travel expenses incurred by relevant employees, and other relevant costs.

Amortization expenses of $2,322 and $1,995 for the three months ended June 30, 2024 and 2023, respectively, and $4,536 and $3,853 for the six months ended June 30, 2024 and 2023, respectively, were included in depreciation and amortization expense. As of June 30, 2024, intangible assets of $5,799, included in the gross amounts of software developed for internal use, have not started amortization, as they are not ready for their intended use.

The Company capitalized costs of software developed for internal use of $2,847 and $2,649 during the three months ended June 30, 2024 and 2023, respectively, and $5,620 and $5,381 during the six months ended June 30, 2024 and 2023, respectively.

As of June 30, 2024, estimated amortization expense related to the Company’s intangible assets for the remainder of 2024 through 2029 and thereafter are as follows:


(In thousands)
Year	June 30, 2024
Remainder of 2024	$	4,872
2025		9,317
2026		7,864
2027		6,248
2028		3,816
2029 and thereafter		3,370
Total	$	35,487