v3.24.1.u1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The following table presents goodwill as of March 31, 2024 (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

19,696

 

 

$

3,881

 

Foreign currency translation adjustment

 

 

(353

)

 

 

—

 

   Total

 

$

19,343

 

 

$

3,881

 
Schedule of Intangible Assets

As of March 31, 2024, intangible assets comprised of the following (in thousands):

 

 

 

Estimated Useful Life in Years

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

   Backlog

 

0.25

 

$

755

 

 

$

(755

)

 

$

—

 

   Customer Relationships

 

1

 

 

3,615

 

 

 

(3,615

)

 

 

—

 

   Developed Technology

 

7.25

 

 

12,734

 

 

 

(1,757

)

 

 

10,977

 

   Patent

 

3

 

 

250

 

 

 

(59

)

 

 

191

 

   Tradename

 

8

 

 

1,187

 

 

 

(148

)

 

 

1,039

 

   Total definite-lived intangible assets (1)

 

 

 

 

18,541

 

 

 

(6,334

)

 

 

12,207

 

(1) Foreign intangible asset carrying amounts are affected by foreign currency translation

 
Schedule of Estimated Intangible Asset Amortization Expense

As of March 31, 2024, the estimated intangible asset amortization expense for the next five years and thereafter is as follows:

 

 

Estimated Amortization

 

 

 

(in thousands)

 

2024

 

 

1,491

 

2025

 

 

1,988

 

2026

 

 

1,950

 

2027

 

 

1,905

 

2028

 

 

1,905

 

Thereafter

 

 

2,968

 

Total

 

$

12,207