Goodwill

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The following table sets forth the carrying amount and activity of goodwill as of June 30, 2024:

	Amount
Balance as of Balance as of the beginning of the period	$	295,096
Acquisitions (Note 2)	766
Effect of exchange rate on goodwill	(6,586)
Balance as of Balance as of the end of the period	$	289,276

The change in goodwill is primarily driven by a $766 increase during the six months ended June 30, 2024 due to acquisition of Kinetic that was completed during the period, as well as a $6,586 decrease in value due to the effect of exchange rate on goodwill. See Note 2 — Business Combinations for a detailed discussion of goodwill acquired.

The Company tests its goodwill for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value of goodwill may be impaired. There were no indicators of impairment noted during the six months ended June 30, 2024.