Goodwill, Internal-use Software Development Costs and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Internal-use Software Development Costs and Intangible Assets

5. Goodwill, Internal-use Software Development Costs and Intangible Assets

Goodwill

The changes in the carrying amount of goodwill by reporting unit were as follows (in thousands):


	United States		Other			Total
Balance as of December 31, 2023	$	131,028	$	832		$	131,860
Foreign currency translation adjustments		—		(10	)		(10	)
Balance as of March 31, 2024	$	131,028	$	822		$	131,850

Internal-use Software Development Costs

During the three months ended March 31, 2024 and 2023, the Company capitalized $9.3 million and $8.1 million in software development and implementation costs, respectively.

During the three months ended March 31, 2024 and 2023, the Company recorded $4.0 million and $2.7 million of amortization expense in cost of revenue, respectively, and $2.3 million and $2.0 million of amortization expense in operating expenses, respectively.

Intangible Assets

Intangible assets, net consisted of the following (in thousands):


	March 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Technology	$	21,832	$	(15,880	)	$	5,952
License		2,509		(2,509	)		—
Customer relationship		31,989		(14,281	)		17,708
Software		449		(417	)		32
Trademark		4,038		(2,593	)		1,445
Total	$	60,817	$	(35,680	)	$	25,137


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Technology	$	21,845	$	(14,951	)	$	6,894
License		2,568		(2,568	)		—
Customer relationship		32,006		(13,480	)		18,526
Software		451		(411	)		40
Trademark		4,038		(2,340	)		1,698
Total	$	60,908	$	(33,750	)	$	27,158

Amortization expense of intangible assets was $2.0 million and $2.2 million for the three months ended March 31, 2024 and 2023, respectively.

As of March 31, 2024, future expected amortization expense is as follows (in thousands):


Years Ending December 31,
2024 (remaining 9 months)		6,062
2025		6,620
2026		3,737
2027		3,269
2028		3,269
Thereafter		2,180
Total future amortization expense	$	25,137

There were no impairments of goodwill, internal-use software development costs or intangible assets in the three months ended March 31, 2024 and 2023.