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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2024
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 three months ended March 31, 2024 and fiscal year ended December 31, 2023 (in thousands):

Carrying Amount
Balance as of December 31, 2022
$26,349 
Foreign currency translation adjustments757 
Balance as of December 31, 2023
27,106 
Foreign currency translation adjustments(588)
Balance as of March 31, 2024
$26,518 

Intangible assets, net consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):

As of
March 31, 2024December 31, 2023
Developed technology$6,937 $7,091 
Customer relationships
929 950 
Intangible assets, gross7,866 8,041 
Less: accumulated amortization(4,432)(4,152)
Intangible assets, net$3,434 $3,889 

Intangible amortization expense was $0.4 million for each of the three months ended March 31, 2024 and 2023. As of March 31, 2024, the weighted average remaining amortization periods for developed technology and customer relationships were approximately 2.3 years and 7.0 years, respectively.
The following table shows the projected annual amortization expense related to amortizable intangible assets as of March 31, 2024 (in thousands):

Projected Amortization
2024 (excluding the three months ended March 31, 2024)
$1,110 
20251,178 
2026758 
202793 
202893 
Thereafter202 
Total projected amortization expense$3,434