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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
5. Goodwill and Intangible Assets

The following table details the changes in goodwill during the six months ended June 30, 2023 and fiscal year ended December 31, 2022 (in thousands):

Carrying Amount
Balance as of December 31, 2021
$27,795 
Foreign currency translation adjustments(1,446)
Balance as of December 31, 2022
26,349 
Foreign currency translation adjustments269 
Balance as of June 30, 2023
$26,618 

Intangible assets, net consisted of the following as of June 30, 2023 and December 31, 2022 (in thousands):

As of
June 30, 2023December 31, 2022
Developed technology$6,963 $6,893 
Customer relationships 1,085 1,073 
Intangible assets, gross8,048 7,966 
Less: accumulated amortization(3,486)(2,715)
Intangible assets, net$4,562 $5,251 

Intangible amortization expense was $0.4 million and $0.7 million for the three and six months ended June 30, 2023, respectively. Intangible amortization expense was $0.4 million and $0.8 million for the three and six months ended June 30, 2022, respectively. As of June 30, 2023, the weighted average remaining amortization periods for developed technology, non-RPA customer relationships, and RPA customer relationships were approximately 3.0 years, 8.2 years, and 6.5 years, respectively.

The following table shows the projected annual amortization expense related to amortizable intangible assets as of June 30, 2023:

Projected Amortization
2023 (excluding the six months ended June 30, 2023)
$743 
20241,486 
20251,182 
2026761 
202793 
Thereafter297 
Total projected amortization expense$4,562