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Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 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 nine months ended September 30, 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 adjustments3,278 
Balance as of September 30, 2025
$28,833 

Intangible assets, net consisted of the following as of September 30, 2025 and December 31, 2024 (in thousands):

As of
September 30, 2025December 31, 2024
Developed technology$7,542 $6,685 
Customer relationships
1,010 896 
Intangible assets, gross8,552 7,581 
Less: accumulated amortization(6,985)(5,341)
Intangible assets, net$1,567 $2,240 

Intangible amortization expense was $0.3 million and $0.9 million for the three and nine months ended September 30, 2025, respectively. Intangible amortization expense was $0.4 million and $1.1 million for the three and nine months ended September 30, 2024, respectively. As of September 30, 2025, the weighted average remaining amortization periods for developed technology and customer relationships were approximately 0.9 years and 5.6 years, respectively.
The following table shows the projected annual amortization expense related to amortizable intangible assets as of September 30, 2025 (in thousands):

Projected Amortization
2025 (excluding the nine months ended September 30, 2025)
$320 
2026824 
2027101 
2028101 
2029101 
Thereafter120 
Total projected amortization expense$1,567