GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The Company’s goodwill as of September 30, 2023 and December 31, 2022 were as follows:


Goodwill	September 30, 2023		December 31, 2022

	(In thousands)
Goodwill, beginning of period	$	213,559	$	181,254
Goodwill acquired	—		33,354
Currency translation adjustment	(366)		(1,049)
Goodwill, end of period	$	213,193	$	213,559

The Company’s purchased intangible assets as of September 30, 2023 and December 31, 2022 were as follows:


	September 30, 2023								December 31, 2022
	Gross		Additions		Accumulated Amortization		Net		Gross		Additions		Accumulated Amortization		Net

	(In thousands)


Intangible assets:
Other indefinite-lived intangibles	$	286	$	—	$	—	$	286	$	286	$	—	$	—	$	286

Intangible assets with finite lives:

Developed technology	51,044		—		(24,632)		26,412		38,650		12,394		(17,260)		33,784
Customer relationships	55,106		—		(27,069)		28,037		41,021		14,085		(19,702)		35,404
Trade names	37,700		—		(13,288)		24,412		37,700		—		(7,633)		30,067
Order backlog	600		—		(600)		—		600		—		(600)		—

Total purchased intangible assets	$	144,736	$	—	$	(65,589)	$	79,147	$	118,257	$	26,479	$	(45,195)	$	99,541

During the nine months ended September 30, 2023, intangible assets acquired decreased by less than $0.1 million due to the impact of foreign currency translation.

Amortization expense related to finite-lived intangible assets were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

	(In thousands)
Developed technology	$	2,456	$	2,012	$	7,366	$	5,888
Customer relationships	2,456		2,066		7,364		5,891
Trade names	1,885		1,885		5,655		5,655
Order backlog	—		—		—		600
Total amortization expense	$	6,797	$	5,963	$	20,385	$	18,034

Amortization of developed technology is recorded to cost of sales, amortization of customer relationships and trade names are recorded to sales and marketing expense, and amortization of certain customer relationships is recorded as a reduction to revenue.

The expected future amortization expense of intangible assets as of September 30, 2023 is presented below:


	September 30, 2023
	(In thousands)
Fiscal year:
2023 (remaining three months)	$	6,795
2024	24,365
2025	23,041
2026	19,482
2027	5,178

Total	$	78,861