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Intangible Assets
6 Months Ended
Jun. 30, 2024
Intangible Assets Disclosure [Abstract]  
Intangible Assets

3. Intangible Assets

The details of intangible assets and related accumulated amortization are set forth below:

 

 

As of June 30, 2024

 

 

As of December 31, 2023

 

 

Gross
value

 

 

Accumulated
amortization

 

 

Net
value

 

 

Gross
value

 

 

Accumulated
amortization

 

 

Net
value

 

Data supply relationships

 

$

52,354

 

 

$

28,186

 

 

$

24,168

 

 

$

43,484

 

 

$

20,350

 

 

$

23,134

 

Tradenames

 

 

2,720

 

 

 

2,720

 

 

 

 

 

 

2,720

 

 

 

2,706

 

 

 

14

 

Completed technologies

 

 

34,932

 

 

 

28,242

 

 

 

6,690

 

 

 

34,932

 

 

 

26,164

 

 

 

8,768

 

Customer relationships

 

 

74,453

 

 

 

60,473

 

 

 

13,980

 

 

 

74,453

 

 

 

57,588

 

 

 

16,865

 

Total intangible assets

 

$

164,459

 

 

$

119,621

 

 

$

44,838

 

 

$

155,589

 

 

$

106,808

 

 

$

48,781

 

 

Amortization expense of intangibles for the three and six months ended June 30, 2024 was $6,094 and $12,813 respectively and for the three and six months ended June 30, 2023 was $5,625 and $10,449, respectively.

Weighted average useful life of the unamortized intangibles as of June 30, 2024 was 2.50 years. Based on the amount of intangible assets subject to amortization, the Company’s estimated future amortization expense over the next five years and beyond are as follows:

 

 

As of June 30, 2024

 

Year ended December 31,

 

 

 

Remaining six months of 2024

 

$

11,513

 

2025

 

 

18,695

 

2026

 

 

10,237

 

2027

 

 

2,911

 

2028

 

 

1,482

 

2029 and thereafter

 

 

-

 

Total

 

$

44,838