Intangible Assets, net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

Intangible Assets, net

The intangible asset balances and accumulated amortization are as follows:

	December 31, 2024
	Gross carrying amount		Accumulated amortization		Impact of foreign currency translation		Net carrying amount		Weighted average useful life in years
Customer relationships	$	96,270	$	(16,064)	$	—	$	80,206	20
Technology	41,035		(16,665)		—		24,370		7
Software for sale	14,459		(927)		(289)		13,243		3
Trade name	1,560		(260)		—		1,300		5
Total	$	153,324	$	(33,916)	$	(289)	$	119,119
	December 31, 2023
	Gross carrying amount		Accumulated amortization		Impact of foreign currency translation		Net carrying amount		Weighted average useful life in years
Customer relationships	$	74,600	$	(11,432)	$	—	$	63,168	20
Technology	26,200		(11,156)		—		15,044		7
Software for sale	3,828		—		—		3,828		3
Trade name	—		—		—		—		5
Total	$	104,628	$	(22,588)	$	—	$	82,040

Amortization expense of $0.9 million and zero was recognized for the capitalized software development costs during the year ended December 31, 2024 and December 31, 2023, respectively.

The table below presents the amortization expense related to intangible assets for the following periods:

	Year Ended December 31,
	2024		2023		2022
Amortization expense related to intangible assets	$	11,327	$	7,473	$	7,261

The table below presents the estimated amortization expense on intangible assets for the next five years and thereafter as of December 31, 2024:

2025	$	14,808
2026	15,713
2027	14,225
2028	8,650
2029	7,118
Thereafter	58,605
Total estimated amortization expense	$	119,119