GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The change in the carrying value of goodwill including the effect of measurement period adjustments for the year ended December 31, 2024, was as follows (in thousands):


Balance as of December 31, 2023	$	—
Acquisition of SYNQ3	6,000
Acquisition of Amelia	$	95,704
Balance as of December 31, 2024	$	101,704

The Company has applied the acquisition method of accounting in accordance with ASC 805 and recognized assets acquired and liabilities assumed of SYNQ3 and Amelia at their fair value as of the date of acquisition, with the excess purchase consideration recorded to goodwill. As the Company finalizes the estimation of the fair value of the assets acquired and liabilities assumed, additional adjustments to the amount of goodwill may be necessary. Refer to Note 3 for further information on the measurement period adjustments of SYNQ3 and Amelia Acquisitions.

Intangible Assets

The gross carrying value, accumulated amortization and net carrying value of intangible assets consisted of the following (in thousands):


		December 31, 2024
	Useful life (in years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology	3.0 - 7.0	$	105,640	$	7,696	$	97,944
Customer relationships	3.0 - 7.0	74,360		5,322		69,038
Tradename	2.0 - 5.0	8,470		1,280		7,190
Conversation data	2.5	1,285		514		771
Total		$	189,755	$	14,812	$	174,943

Amortization expense of intangible assets was $14.8 million for the year ended December 31, 2024. This expense was recorded as $7.7 million within cost of revenues for the year ended December 31, 2024. There was no amortization expense during the year ended December 31, 2023.

Future amortization expense of intangible assets held as of December 31, 2024, is as follows (in thousands):


Year ending December 31,
2025	$	30,334
2026	29,372
2027	26,923
2028	25,398
2029	24,761
Thereafter	$	38,155
Total	$	174,943