Intangible Assets, Net

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net consist of the following:


	September 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	4.5	$	98,549	$	(15,657)	$	82,892	4.0	$	22,734	$	(4,993)	$	17,741
Software licenses	1.2	23,542		(16,787)		6,755		1.5	23,305		(11,514)		11,791
Customer relationships	8.9	58,153		(5,164)		52,989		8.2	17,569		(1,895)		15,674
Intellectual property licenses	0.3	1,849		(1,736)		113		1.0	1,777		(1,716)		61
Trade names	5.6	19,565		(2,927)		16,638		5.5	9,536		(1,466)		8,070
Backlog	0.8	4,451		(2,171)		2,280		1.0	366		(175)		191
Effect of exchange rate on gross carrying amount		(4,383)				(4,383)			(3,614)		—		(3,614)
Intangible assets with finite lives		201,726		(44,442)		157,284			71,673		(21,759)		49,914

IPR&D		40,336		—		40,336			14,160		—		14,160
Effect of exchange rate on gross carrying amount		(1,196)		—		(1,196)			(957)		—		(957)
Total intangible assets with indefinite lives		39,140		—		39,140			13,203		—		13,203

Total intangible assets		$	240,866	$	(44,442)	$	196,424		$	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 September 30, 2023 and 2022 was $9,044 and $51, respectively. Amortization of intangible assets for the nine months ended September 30, 2023 and 2022 was $22,701 and $8,859, 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, 2023, amortization expense for each of the next five fiscal years is expected to be as follows:


2023 (remaining 3 months)	$	10,007
2024	32,266
2025	26,680
2026	25,714
2027	23,201
Thereafter	39,416
	$	157,284