Goodwill and Intangible Assets

3 Months Ended

Mar. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The changes in the carrying value of goodwill were as follows (in thousands):

Balance as of December 31, 2024	$	384,937
Foreign exchange rate changes	4,992
Balance as of March 30, 2025	$	389,929

Amortized intangible assets as of March 30, 2025 consisted of the following (in thousands):

	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	$	70,082	$	(11,650)	$	58,432
Completed technologies	59,520		(27,279)		32,241
Trademarks	844		(421)		423
Non-compete agreements	340		(302)		38
Balance as of March 30, 2025	$	130,786	$	(39,652)	$	91,134

Amortized intangible assets as of December 31, 2024 consisted of the following (in thousands):

	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	$	67,781	$	(10,229)	$	57,552
Completed technologies	58,373		(25,766)		32,607
Trademarks	810		(337)		473
Non-compete agreements	340		(288)		52
Balance as of December 31, 2024	$	127,304	$	(36,620)	$	90,684

Future amortization expense related to intangible assets as of March 30, 2025 is as follows (in thousands):

	Amount
Remainder of fiscal 2025	$	7,773
2026	10,064
2027	9,131
2028	8,401
2029	8,401
2030	7,858
Thereafter	39,506
	$	91,134