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Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 7. Intangible Assets The following table presents details of the Company’s acquired intangible assets as of December 31, 2023 and 2022 (in thousands, except weighted-average amortization period):
As of December 31, 2023 |  | Weighted-Average Amortization Period |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Finite-lived intangible assets: |  |  |  |  |  |  |  |
Developed technology |  | 8.8 years |  | $ | 83,289 |  |  | $ | (19,640) |  |  | $ | 63,649 |
Customer relationships |  | 15.0 years |  | 6,579 |  |  | (2,851) |  |  | 3,728 |
Trade secrets and processes |  | 20.0 years |  | 5,256 |  |  | (1,577) |  |  | 3,679 |
Total intangible assets |  | 9.6 years |  | $ | 95,124 |  |  | $ | (24,068) |  |  | $ | 71,056 |
As of December 31, 2022 |  | Weighted-Average Amortization Period |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Finite-lived intangible assets: |  |  |  |  |  |  |  |
Developed technology |  | 8.8 years |  | $ | 83,289 |  |  | $ | (10,113) |  |  | $ | 73,176 |
Customer relationships |  | 15.0 years |  | 6,383 |  |  | (2,340) |  |  | 4,043 |
Trade secrets and processes |  | 20.0 years |  | 5,256 |  |  | (1,314) |  |  | 3,942 |
Other |  | 5.0 years |  | 1,646 |  |  | (1,646) |  |  | — |
Total intangible assets |  | 9.6 years |  | $ | 96,574 |  |  | $ | (15,413) |  |  | $ | 81,161 |
The gross carrying amount and accumulated amortization of the customer relationships and other intangible assets are subject to foreign currency translation effects. The Company’s $5.3 million trade secrets and processes intangible asset was recognized in connection with a royalty buyout agreement in 2018. The Company reviews indefinite-lived intangible assets for impairment annually during the fourth quarter or more frequently if events or circumstances indicate that an impairment loss may have occurred. During the three months ended September 30, 2022, the Company reclassified a $20.8 million IPR&D asset from the Sixense acquisition to a finite-lived developed technology intangible asset upon the completion of the IPR&D project and began amortizing the intangible asset over its useful life of 8.8 years. Prior to reclassifying the IPR&D asset to a finite-lived intangible asset during the three months ended September 30, 2022, the Company performed an impairment analysis and determined that the IPR&D asset was not impaired. The following table presents the amortization recorded related to the Company’s finite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021 (in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2023 |  | 2022 |  | 2021
Cost of revenue |  |  |  |  |  | $ | 263 |  |  | $ | 263 |  |  | $ | 263 |
Sales, general and administrative |  |  |  |  |  | 9,949 |  |  | 8,917 |  |  | 2,618 |
Total |  |  |  |  |  | $ | 10,212 |  |  | $ | 9,180 |  |  | $ | 2,881 |
As of December 31, 2023, expected amortization expense for the unamortized acquired intangible assets for the next five years and thereafter is as follows (in thousands):
| Amortization Expense
2024 | $ | 10,220 |
2025 | 10,220 |
2026 | 10,220 |
2027 | 10,220 |
2028 | 10,220 |
Thereafter | 19,956 |
Total amortization | $ | 71,056 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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