Goodwill and Other Intangible Assets, Net

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

8. Goodwill and Other Intangible Assets, Net

Other Intangibles Assets, Net

The following is a summary of the components of intangible assets and the related amortization expense (in thousands):

	June 30, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-average remaining life (years)
Developed technology	$	18,253	$	(12,208	)	$	6,045		4.8
Customer relationships		38,999		(36,575	)		2,424	0.9
Trade names		314		(314	)		—		—
Total intangibles	$	57,566	$	(49,097	)	$	8,469	3.6

	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-average remaining life (years)
Developed technology	$	12,235	$	(11,452	)	$	783	0.3
Customer relationships		39,921		(32,896	)		7,025	0.9
Trade names		323		(323	)		—		—
Capitalized software costs - WIP		5,550		—			5,550	N/A
Total intangibles	$	58,029	$	(44,671	)	$	13,358	0.8

For the three months ended June 30, 2024 and 2023, amortization expense amounted to $2.4 million and $2.7 million, respectively, and $5.7 million and $4.6 million for the six months ended June 30, 2024 and 2023, respectively.

Expected future amortization expense for intangible assets as of June 30, 2024 is as follows (in thousands):

Year ended December 31,
2024	$	2,266
2025		2,065
2026		1,270
2027		1,270
Thereafter		1,598
Total	$	8,469

Goodwill

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

	June 30, 2024			December 31, 2023
Beginning Balance	$	95,869		$	92,728
Foreign currency translation		(2,811	)		2,323
Additions from acquisitions		—			818
Ending Balance	$	93,058		$	95,869