v3.24.3
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
8. Goodwill and Intangible Assets
Goodwill
The change in the carrying amount of goodwill during the nine months ended September 30, 2024 was as follows:
(in thousands)
Balance as of December 31, 2023$26,299 
Goodwill acquired15,875 
Balance as of September 30, 2024$42,174 
Acquired Intangible Assets
Acquired intangible assets consisted of the following:
September 30, 2024
Gross carrying
value		Accumulated
amortization		Net carrying
value		Weighted-average remaining useful life (years)
(in thousands, except year data)
Developed technology$47,460 $19,572 $27,888 2.8
Other intangible assets600 600 — — 
Total acquired intangible assets$48,060 $20,172 $27,888 
December 31, 2023
Gross carrying
value		Accumulated
amortization		Net carrying
value		Weighted-average remaining useful life (years)
(in thousands, except year data)
Developed technology$43,160 $12,973 $30,187 3.6
Other intangible assets600 467 133 0.3
Total acquired intangible assets$43,760 $13,440 $30,320 
Amortization expense was immaterial for the three months ended September 30, 2024 and 2023 and $6.7 million and $6.8 million for the nine months ended September 30, 2024 and 2023, respectively.
Cryptocurrency
During the three months ended September 30, 2024, we sold the majority of our cryptocurrency portfolio, which consisted primarily of Bitcoin and Ether. The net carrying value of our cryptocurrencies, as well as the gain recognized on sale, was immaterial for the periods presented.