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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

The Company’s goodwill as of March 31, 2024 and December 31, 2023 was as follows:

Goodwill			March 31, 2024						December 31, 2023
			(In thousands)
Goodwill, beginning of period			$	214,562					$	213,559
Currency translation adjustment			(937)						1,003
Goodwill, end of period			$	213,625					$	214,562

The Company’s purchased intangible assets as of March 31, 2024 and December 31, 2023 were as follows:

			March 31, 2024																								December 31, 2023
			Gross						Additions						Accumulated Amortization												Net						Gross						Additions												Accumulated Amortization						Impairment						Net
			(In thousands)
Intangible assets:
Other indefinite-lived intangibles			$	286					$	—					$	—											$	286					$	286					$	—											$	—					$	—					$	286
Intangible assets with finite lives:
Developed technology			51,054						—						(29,560)												21,494						51,044						—												(27,093)						—						23,951
Customer relationships			51,306						—						(31,103)												20,203						55,106						—												(29,527)						(3,807)						21,772
Trade names			37,700						—						(17,058)												20,642						37,700						—												(15,173)						—						22,527
Total purchased intangible assets			$	140,346					$	—					$	(77,721)											$	62,625					$	144,136					$	—											$	(71,793)					$	(3,807)					$	68,536

During the three months ended March 31, 2024, intangible assets 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 March 31,
															2024						2023
															(In thousands)
Developed technology															$	2,467					$	2,455
Customer relationships															1,576						2,454
Trade names															1,885						1,885
Total amortization expense															$	5,928					$	6,794

Amortization of developed technology is recorded to cost of revenues, 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 March 31, 2024 is presented below:

			March 31, 2024
			(In thousands)
Fiscal year:
2024 (remaining nine months)			$	16,811
2025			21,397
2026			19,108
2027			5,023
Total			$	62,339

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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