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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill
Goodwill represents the excess of purchase consideration in a business combination over the fair value of tangible and intangible assets acquired net of the liabilities assumed. All goodwill relates to the Company’s platform segment.
Intangible Assets
The following tables summarize the Company’s intangible assets for the periods presented (in thousands, except years):
As of June 30, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Useful Lives
(in years)
Developed technology$73,367 $(54,992)$18,375 5.9
Customer relationships14,100 (14,100)— —
Tradename20,400 (6,966)13,434 9.8
Patents4,076 (1,334)2,742 14.0
Total Intangible assets$111,943 $(77,392)$34,551 6.7
As of December 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Weighted-Average Useful Lives
(in years)
Developed technology$73,367 $(49,087)$24,280 5.9
Customer relationships14,100 (13,948)152 4.0
Tradename20,400 (5,966)14,434 9.8
Patents4,076 (1,189)2,887 14.0
Total Intangible assets$111,943 $(70,190)$41,753 6.7
The Company recorded amortization expense of $3.5 million and $4.4 million for intangible assets during the three months ended June 30, 2024 and 2023, respectively. The Company recorded amortization expense of $7.2 million and $8.8 million for intangible assets during the six months ended June 30, 2024 and 2023, respectively.
The Company recorded amortization of developed technology in Cost of revenue, platform during the three and six months ended June 30, 2024, and in Cost of revenue, platform and Research and development expenses during the three and six months ended June 30, 2023. The Company recorded amortization of customer relationships and tradename in Sales and marketing expenses and amortization of patents in General and administrative expenses in the condensed consolidated statements of operations for all periods presented.
As of June 30, 2024, the estimated future amortization expense for intangible assets for the next five years and thereafter is as follows (in thousands):
Year Ending December 31, 
2024 (remaining 6 months)$7,050 
202512,533 
20264,074 
20272,737 
20282,291 
Thereafter5,866 
Total$34,551