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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2025
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, 2025 and fiscal year ended December 31, 2024 (in thousands):

Carrying Amount
Balance as of December 31, 2023
$27,106 
Foreign currency translation adjustments(1,551)
Balance as of December 31, 2024
25,555 
Foreign currency translation adjustments991 
Balance as of March 31, 2025
$26,546 

Intangible assets, net consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):

As of
March 31, 2025December 31, 2024
Developed technology$6,944 $6,685 
Customer relationships
930 896 
Intangible assets, gross7,874 7,581 
Less: accumulated amortization(5,842)(5,341)
Intangible assets, net$2,032 $2,240 

Intangible amortization expense was $0.3 million and $0.4 million for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, the weighted average remaining amortization periods for developed technology and customer relationships were approximately 1.4 years and 6.1 years, respectively.

The following table shows the projected annual amortization expense related to amortizable intangible assets as of March 31, 2025 (in thousands):

Projected Amortization
2025 (excluding the three months ended March 31, 2025)
$884 
2026759 
202793 
202893 
202993 
Thereafter110 
Total projected amortization expense$2,032