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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Changes in Carrying Value of Goodwill The following table represents the changes in the carrying value of goodwill for the years ended December 31, 2023 and 2022 (amounts in thousands):

 

Balance as of December 31, 2021

 

$

860,362

 

Measurement period adjustment - BioFlex

 

 

(346

)

Measurement period adjustment - Avitide

 

 

(1,768

)

Cumulative translation adjustment

 

 

(2,735

)

Balance as of December 31, 2022

 

$

855,513

 

Acquisition of FlexBiosys, Inc.

 

 

14,321

 

Acquisition of Metenova Holding AB

 

 

115,778

 

Cumulative translation adjustment

 

 

1,508

 

Balance as of December 31, 2023

 

$

987,120

 
Schedule of Intangible Assets

Intangible assets, net consisted of the following at December 31, 2023:

 

 

 

December 31, 2023

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

(As Restated)

 

 

(As Restated)

 

 

(As Restated)

 

 

 

 

Technology - developed

 

$

256,536

 

 

$

(44,633

)

 

$

211,903

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

—

 

 

 

8

 

Customer relationships

 

 

269,949

 

 

 

(83,963

)

 

 

185,986

 

 

 

15

 

Trademarks

 

 

8,757

 

 

 

(1,789

)

 

 

6,968

 

 

 

19

 

Other intangibles

 

 

3,914

 

 

 

(2,514

)

 

 

1,400

 

 

 

3

 

Total finite-lived intangible assets

 

 

539,396

 

 

 

(133,139

)

 

 

406,257

 

 

 

15

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

—

 

 

 

700

 

 

 

—

 

Total intangible assets

 

$

540,096

 

 

$

(133,139

)

 

$

406,957

 

 

 

 

 

Intangible assets consisted of the following at December 31, 2022:

 

 

 

December 31, 2022

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

(As Revised)

 

 

 

 

 

(As Revised)

 

 

 

 

Technology - developed

 

$

197,405

 

 

$

(30,992

)

 

$

166,413

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

—

 

 

 

8

 

Customer relationships

 

 

252,934

 

 

 

(66,559

)

 

 

186,375

 

 

 

15

 

Trademarks

 

 

7,682

 

 

 

(1,319

)

 

 

6,363

 

 

 

19

 

Other intangibles

 

 

2,811

 

 

 

(2,044

)

 

 

767

 

 

 

4

 

Total finite-lived intangible assets

 

 

461,072

 

 

 

(101,154

)

 

 

359,918

 

 

 

16

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

—

 

 

 

700

 

 

 

—

 

Total intangible assets

 

$

461,772

 

 

$

(101,154

)

 

$

360,618

 

 

 

 
Schedule of Amortization Expense for Amortized Intangible Assets As of December 31, 2023, the Company expects to record the following amortization expense (amounts in thousands):

 

 

 

Estimated

 

 

 

Amortization

 

 

 

Expense

 

For the Years Ended December 31,

 

(As Restated)

 

2024

 

$

34,785

 

2025

 

 

34,350

 

2026

 

 

33,995

 

2027

 

 

33,892

 

2028

 

 

33,160

 

2029 and thereafter

 

 

236,075

 

Total

 

$

406,257