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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill represents the excess of purchase consideration in a business combination over the fair value of tangible and intangible assets acquired net of the liabilities assumed. All goodwill relates to the platform segment. Goodwill is evaluated for impairment annually. No impairment was recognized during the years ended December 31, 2023, 2022, and 2021. Intangible Assets The following tables summarize the Company’s intangible assets for the periods presented (in thousands, except years):
| As of December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted-Average Useful Lives (in years)
Developed technology | $ | 73,367 |  |  | $ | (49,087) |  |  | $ | 24,280 |  |  | 5.9
Customer relationships | 14,100 |  |  | (13,948) |  |  | 152 |  |  | 4.0
Tradename | 20,400 |  |  | (5,966) |  |  | 14,434 |  |  | 9.8
Patents | 4,076 |  |  | (1,189) |  |  | 2,887 |  |  | 14.0
Total Intangible assets | $ | 111,943 |  |  | $ | (70,190) |  |  | $ | 41,753 |  |  | 6.7
| As of December 31, 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted-Average Useful Lives (in years)
Developed technology | $ | 73,367 |  |  | $ | (37,278) |  |  | $ | 36,089 |  |  | 5.9
Customer relationships | 14,100 |  |  | (10,920) |  |  | 3,180 |  |  | 4.0
Tradename | 20,400 |  |  | (3,966) |  |  | 16,434 |  |  | 9.8
Patents | 4,076 |  |  | (898) |  |  | 3,178 |  |  | 14.0
Total Intangible assets | $ | 111,943 |  |  | $ | (53,062) |  |  | $ | 58,881 |  |  | 6.7
The Company recognized an impairment charge of $7.5 million during the year ended December 31, 2022 as part of its restructuring efforts related to the abandonment of future development of certain technology assets. See Note 17 for additional details. The Company recorded expenses of $17.1 million, $17.7 million, and $17.3 million for amortization of intangible assets during the years ended December 31, 2023, 2022, and 2021, respectively. The Company recorded most of the amortization of developed technology in Cost of revenue, platform for the year ended December 31, 2023, and in Cost of revenue, platform and Research and development expenses for the years ended December 31, 2022 and 2021. The Company recorded amortization of customer relationships and tradename in Sales and marketing expenses, and recorded amortization of patents in General and administrative expenses in the consolidated statements of operations. As of December 31, 2023, the estimated future amortization expense for intangible assets for the next five years and thereafter is as follows (in thousands):
Year Ending December 31, |
2024 | $ | 14,252 |
2025 | 12,533
2026 | 4,074
2027 | 2,737
2028 | 2,291
Thereafter | 5,866
Total | $ | 41,753 |

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