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Intangible Assets, Net
9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets, net consist of the following:

September 30, 2022December 31, 2021
Weighted
Average
Remaining
Useful Life
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Weighted
Average
Remaining
Useful Life
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Developed technology3.7$24,305 $(4,558)$19,747 6.7$49,040 $(1,374)$47,666 
Software licenses2.023,305 (10,009)13,296 2.523,297 (6,286)17,011 
Customer relationships8.115,470 (1,379)14,091 6.712,682 (365)12,317 
Intellectual property licenses1.31,777 (1,707)70 1.51,736 (1,687)49 
Trade names5.77,911 (967)6,944 6.76,125 (182)5,943 
Backlog1.3619 (203)416 1.82,378 (239)2,139 
Effect of exchange rate on gross carrying amount(4,705)(4,705)(631)— (631)
Intangible assets with finite lives68,682 (18,823)49,859 94,627 (10,133)84,494 
IPR&D12,270 — 12,270 11,866 — 11,866 
Effect of exchange rate on gross carrying amount(1,265)— (1,265)(75)— (75)
Total intangible assets with indefinite lives11,005 — 11,005 11,791 — 11,791 
Total intangible assets$79,687 $(18,823)$60,864 $106,418 $(10,133)$96,285 

The Company obtained software licenses, which it uses for its research and development efforts related to its products. In fiscal 2022 and 2021, the Company obtained additional software licenses. Further, the Company has acquired developed technology, customer relationships, trade names, backlog and IPR&D as a result of the business combinations. The change in gross amount
of intangible assets is related to the business combination valuation for TeraXion and ON Design that was finalized during the three months ended September 30, 2022. See Note 2 - Business Combinations for additional information.

Intangible assets with finite lives are amortized on a straight-line basis over the expected period to be benefited by future cash flows. The Company monitors and assesses these assets for impairment on a periodic basis. As of September 30, 2022, the Company determined that there was no impairment of intangible assets.

Amortization of intangible assets for the three months ended September 30, 2022 and 2021 was $51 and $1,459, respectively. Amortization for the nine months ended September 30, 2022 and 2021 was $8,859 and $2,222, respectively. Amortization of intangible assets is included within Cost of goods sold, Research and development expenses, and Selling, general and administrative expenses based their respective nature, in the condensed consolidated statements of operations.

Based on the amount of definite-lived intangible assets subject to amortization as of September 30, 2022, amortization expense for each of the next five fiscal years is expected to be as follows:

2022 (remaining three months)$3,455 
202314,933 
202411,806 
20256,462 
20263,389 
Thereafter9,814 
$49,859