v3.24.3
Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

Goodwill was $28,772 as of September 30, 2024 and December 31, 2023. There was no impairment of goodwill recorded during the three and nine months ended September 30, 2024 and 2023.

Intangible assets consisted of the following as of September 30, 2024:

 

 

 

Original

 

 

Accumulated

 

 

Net Book

 

 

 

Cost

 

 

Amortization

 

 

Value

 

Developed technology

 

$

32,620

 

 

$

(26,214

)

 

$

6,406

 

Customer relationships

 

 

10,690

 

 

 

(4,321

)

 

 

6,369

 

Patent

 

 

7,623

 

 

 

(7,623

)

 

 

—

 

Independent sales agency network

 

 

4,500

 

 

 

(4,500

)

 

 

—

 

Trade names and trademarks

 

 

2,080

 

 

 

(1,697

)

 

 

383

 

Non-compete agreements

 

 

1,010

 

 

 

(866

)

 

 

144

 

Total

 

$

58,523

 

 

$

(45,221

)

 

$

13,302

 

 

Intangible assets consisted of the following as of December 31, 2023:

 

 

 

Original

 

 

Accumulated

 

 

Net Book

 

 

 

Cost

 

 

Amortization

 

 

Value

 

Developed technology

 

$

32,620

 

 

$

(24,666

)

 

$

7,954

 

Customer relationship

 

 

10,690

 

 

 

(3,519

)

 

 

7,171

 

Patent

 

 

7,623

 

 

 

(7,623

)

 

 

—

 

Independent sales agency network

 

 

4,500

 

 

 

(4,500

)

 

 

—

 

Trade names and trademarks

 

 

2,080

 

 

 

(1,590

)

 

 

490

 

Non-compete agreements

 

 

1,010

 

 

 

(754

)

 

 

256

 

Total

 

$

58,523

 

 

$

(42,652

)

 

$

15,871

 

 

Amortization of intangible assets, calculated on a straight-line basis or using an accelerated method, was $834, $2,569, $1,229, and $3,688 for the three and nine months ended September 30, 2024 and 2023, respectively. The weighted average remaining useful lives for developed technology, trade names and trademarks, customer relationship, and non-compete agreements are 3.8 years, 3.7 years, 6.0 years, and 1.0 year, respectively, as of September 30, 2024.