v3.24.2
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The following table presents goodwill as of June 30, 2024 (in thousands):

 

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

19,696

 

 

$

3,881

 

Additions from acquisition

 

 

—

 

 

 

15,590

 

Foreign currency translation adjustment

 

 

(440

)

 

 

45

 

   Total

 

$

19,256

 

 

$

19,516

 
Schedule of Intangible Assets

As of June 30, 2024, intangible assets comprised the following (in thousands):

 

 

 

Estimated Useful Life in Years

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

   Backlog

 

0.25

 

$

751

 

 

$

(751

)

 

$

—

 

   Customer Relationships

 

1

 

 

3,595

 

 

 

(3,595

)

 

 

—

 

   Developed Technology

 

7.25

 

 

12,662

 

 

 

(2,183

)

 

 

10,479

 

   Patent

 

3

 

 

250

 

 

 

(80

)

 

 

170

 

   Tradename

 

8

 

 

1,180

 

 

 

(184

)

 

 

996

 

   Total definite-lived intangible assets (1)

 

 

 

 

18,438

 

 

 

(6,793

)

 

 

11,645

 

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

 
Schedule of Estimated Intangible Asset Amortization Expense

As of June 30, 2024, the estimated intangible asset amortization expense for the next five years and thereafter is as follows:

 

 

Estimated Amortization

 

 

 

(in thousands)

 

2024

 

 

989

 

2025

 

 

1,977

 

2026

 

 

1,939

 

2027

 

 

1,894

 

2028

 

 

1,894

 

Thereafter

 

 

2,952

 

Total

 

$

11,645