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Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 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 nine months ended September 30, 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 adjustments356 
Balance as of September 30, 2024
$27,462 

Intangible assets, net consisted of the following as of September 30, 2024 and December 31, 2023 (in thousands):

As of
September 30, 2024December 31, 2023
Developed technology$7,184 $7,091 
Customer relationships
962 950 
Intangible assets, gross8,146 8,041 
Less: accumulated amortization(5,356)(4,152)
Intangible assets, net$2,790 $3,889 

Intangible amortization expense was $0.4 million and $1.1 million for the three and nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, the weighted average remaining amortization periods for developed technology and customer relationships were approximately 1.9 years and 6.6 years, respectively.
The following table shows the projected annual amortization expense related to amortizable intangible assets as of September 30, 2024 (in thousands):

Projected Amortization
2024 (excluding the nine months ended September 30, 2024)
$383 
20251,220 
2026785 
202796 
202896 
Thereafter210 
Total projected amortization expense$2,790