v3.24.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The following table presents goodwill as of September 30, 2024 (in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

19,696

 

 

$

3,881

 

Additions from acquisition

 

 

—

 

 

 

15,590

 

Foreign currency translation adjustment

 

 

137

 

 

 

(422

)

   Total

 

$

19,833

 

 

$

19,049

 
Schedule of Intangible Assets

As of September 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

 

$

779

 

 

$

(779

)

 

$

—

 

   Customer Relationships

 

1

 

 

3,730

 

 

 

(3,730

)

 

 

—

 

   Developed Technology

 

7.25

 

 

13,137

 

 

 

(2,718

)

 

 

10,419

 

   Patent

 

3

 

 

250

 

 

 

(101

)

 

 

149

 

   Tradename

 

8

 

 

1,225

 

 

 

(230

)

 

 

995

 

   Total definite-lived intangible assets (1)

 

 

 

$

19,121

 

 

$

(7,558

)

 

$

11,563

 

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

 
Schedule of Estimated Intangible Asset Amortization Expense

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

 

 

Estimated Amortization

 

 

 

(in thousands)

 

2024

 

$

512

 

2025

 

 

2,048

 

2026

 

 

2,010

 

2027

 

 

1,965

 

2028

 

 

1,965

 

Thereafter

 

 

3,063

 

Total

 

$

11,563