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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 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 nine months ended September 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 adjustments | (358) |
Balance as of September 30, 2023 | $ | 25,991 |
Intangible assets, net consisted of the following as of September 30, 2023 and December 31, 2022 (in thousands):
| As of
| September 30, 2023 |  | December 31, 2022
Developed technology | $ | 6,799 |  |  | $ | 6,893 |
Customer relationships - Process mining and RPA | 911 |  |  | 1,073 |
Intangible assets, gross | 7,710 |  |  | 7,966 |
Less: accumulated amortization | (3,618) |  |  | (2,715) |
Intangible assets, net | $ | 4,092 |  |  | $ | 5,251 |
Intangible amortization expense was $0.4 million and $1.1 million for the three and nine months ended September 30, 2023, respectively. Intangible amortization expense was $0.4 million and $1.1 million for the three and nine months ended September 30, 2022, respectively. As of September 30, 2023, the weighted average remaining amortization periods for developed technology, process mining customer relationships, and RPA customer relationships were approximately 2.7 years, 7.9 years, and 6.3 years, respectively. The following table shows the projected annual amortization expense related to amortizable intangible assets as of September 30, 2023 (in thousands):
| Projected Amortization
2023 (excluding the nine months ended September 30, 2023) | $ | 363 |
2024 | 1,451 |
2025 | 1,154 |
2026 | 743 |
2027 | 91 |
Thereafter | 290 |
Total projected amortization expense | $ | 4,092 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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