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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2024
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 Company’s platform segment.
Intangible Assets
The following tables summarize the Company’s intangible assets for the periods presented (in thousands, except years):
As of March 31, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Useful Lives
(in years)
Developed technology$73,367 $(52,039)$21,328 5.9
Customer relationships14,100 (14,100)— —
Tradename20,400 (6,466)13,934 9.8
Patents4,076 (1,262)2,814 14.0
Total Intangible assets$111,943 $(73,867)$38,076 6.7
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 relationships14,100 (13,948)152 4.0
Tradename20,400 (5,966)14,434 9.8
Patents4,076 (1,189)2,887 14.0
Total Intangible assets$111,943 $(70,190)$41,753 6.7
The Company recorded amortization expense of $3.7 million and $4.4 million for intangible assets during the three months ended March 31, 2024 and 2023, respectively.
The Company recorded amortization of developed technology in Cost of revenue, platform for the three months ended March 31, 2024, and in Cost of revenue, platform and Research and development expenses for the three months ended March 31, 2023. The Company recorded amortization of customer relationships and tradename in Sales and marketing expenses and amortization of patents in General and administrative expenses in the condensed consolidated statements of operations for all periods presented.
As of March 31, 2024, 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 (remaining 9 months)$10,575 
202512,533 
20264,074 
20272,737 
20282,291 
Thereafter5,866 
Total$38,076