Acquisition, Goodwill and Acquisition-Related Intangible Assets

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Acquisition, Goodwill and Acquisition-Related Intangible Assets

Acquisitions

We had no business acquisitions during the three months ended March 31, 2024 and 2023.

Goodwill

No changes were made to the carrying values of goodwill for the three months ended March 31, 2024 and 2023.

Acquisition-Related Intangible Assets

Acquisition-related intangible assets, excluding those that are fully amortized, were as follows (in thousands, except years):


	Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount				Weighted Average Remaining Useful Life (in years)
	December 31, 2023		Additions		March 31, 2024		December 31, 2023		Amortization		March 31, 2024		December 31, 2023		March 31, 2024
Developed technology	$	154,930	$	—	$	154,930	$	(102,493)	$	(4,194)	$	(106,687)	$	52,437	$	48,243	3.8
Customer relationships	54,620		—		54,620		(21,797)		(1,926)		(23,723)		32,823		30,897		4.5
Trade name	12,390		—		12,390		(8,882)		(570)		(9,452)		3,508		2,938		1.3
Total	$	221,940	$	—	$	221,940	$	(133,172)	$	(6,690)	$	(139,862)	$	88,768	$	82,078	4.0

Amortization expense related to acquisition-related intangible assets was $6.7 million and $9.3 million for the three months ended March 31, 2024 and 2023, respectively.

As of March 31, 2024, future estimated amortization expense related to the acquisition-related intangible assets is as follows (in thousands):


	Future Amortization Expense
Remainder of 2024	$	20,069
2025	19,642
2026	17,260
2027	13,436
2028	10,037
Thereafter	1,634
Total	$	82,078