Intangible Assets, Net

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net consist of the following:


	June 30, 2023							December 31, 2022
	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 technology	4.6	$	90,581	$	(11,430)	$	79,151	4.0	$	22,734	$	(4,993)	$	17,741
Software licenses	0.8	23,590		(14,889)		8,701		1.5	23,305		(11,514)		11,791
Customer relationships	9.2	52,841		(3,918)		48,923		8.2	17,569		(1,895)		15,674
Intellectual property licenses	0.4	1,814		(1,728)		86		1.0	1,777		(1,716)		61
Trade names	5.7	15,581		(2,431)		13,150		5.5	9,536		(1,466)		8,070
Backlog	0.8	3,787		(1,310)		2,477		1.0	366		(175)		191
Effect of exchange rate on gross carrying amount		(2,523)				(2,523)			(3,614)		—		(3,614)
Intangible assets with finite lives		185,671		(35,706)		149,965			71,673		(21,759)		49,914

IPR&D		32,368		—		32,368			14,160		—		14,160
Effect of exchange rate on gross carrying amount		(895)		—		(895)			(957)		—		(957)
Total intangible assets with indefinite lives		31,473		—		31,473			13,203		—		13,203

Total intangible assets		$	217,144	$	(35,706)	$	181,438		$	84,876	$	(21,759)	$	63,117

The Company obtained software licenses, which it uses for its research and development efforts related to its products. In fiscal 2022, 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 business combinations. 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. Amortization of intangible assets for the three months ended June 30, 2023 and 2022 was $8,577 and $4,133, respectively. Amortization of intangible assets for the six months ended June 30, 2023 and 2022 was $13,657 and $8,808, 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 June 30, 2023, amortization expense for each of the next five fiscal years is expected to be as follows:


2023 (remaining six months)	$	18,366
2024	30,008
2025	24,463
2026	23,712
2027	21,138
Thereafter	32,279
	$	149,965