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Goodwill and Intangible Assets
 9 Months Ended
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, 2023December 31, 2022
Developed technology$6,799 $6,893 
Customer relationships - Process mining and RPA
911 1,073 
Intangible assets, gross7,710 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 
20241,451 
20251,154 
2026743 
202791 
Thereafter290 
Total projected amortization expense$4,092