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Intangible Assets and Goodwill (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets, net

As of March 31, 2023 and December 31, 2022, intangible assets, net consisted of the following:

 

 

 

March 31, 2023

 

 

December 31, 2022

 

(in thousands)

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net
Carrying
Amount

 

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net
Carrying
Amount

 

Customer relationships

 

$

10,100

 

$

(5,315

)

$

4,785

 

 

$

10,100

 

$

(4,944

)

$

5,156

 

Trade name

 

 

900

 

 

(900

)

 

 

 

 

900

 

 

(900

)

 

 

Acquisition intangible assets, net

 

$

11,000

 

$

(6,215

)

$

4,785

 

 

$

11,000

 

$

(5,844

)

$

5,156

 

As of March 31, 2023 and December 31, 2022, capitalized internal-use software consisted of the following:

 

(in thousands)

 

March 31, 2023

 

December 31, 2022

 

Gross capitalized internal-use software

 

$

45,078

 

$

62,249

 

Less: Accumulated amortization

 

 

(15,136

)

 

(32,654

)

Capitalized internal-use software, net

 

$

29,942

 

$

29,595

 

 

Schedule of Carrying Amount of Goodwill

The changes in the carrying amount of goodwill were as follows (in thousands):

 

Balance as of December 31, 2022

$

459,817

 

Foreign currency translation

 

1,162

 

Balance as of March 31, 2023

$

460,979

 

Summary of Future Amortization Expense

As of March 31, 2023, future amortization expense by year is expected to be as follows:

 

(in thousands)

 

Capitalized
internal-use
software, net

 

 

Acquisition
intangible
assets, net

 

Remainder of 2023

 

$

5,085

 

 

$

1,113

 

2024

 

 

4,964

 

 

 

1,483

 

2025

 

 

3,458

 

 

 

1,389

 

2026

 

 

279

 

 

 

800

 

Total amortization expense

 

$

13,786

 

 

$

4,785