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Goodwill and Other Intangibles | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | Goodwill and Other Intangibles Goodwill and intangible assets deemed to have an indefinite life are not amortized, but are reviewed annually for impairment of value or when indicators of a potential impairment are present. As part of the Company’s business planning cycle, the Company performs an annual goodwill impairment test in the fourth quarter of the fiscal year. There were no indications of impairment of goodwill noted as of March 31, 2024. Goodwill had a carrying value of $148.1 million as of both March 31, 2024 and December 31, 2023. Total intangibles, net, consisted of the following as of March 31, 2024 and December 31, 2023:
|  | As of March 31, 2024
(in thousands) |  | Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Finite-lived: |  |  |  |  |  |
Customer Relationships |  | $ | 20,470 |  |  | $ | (3,161) |  |  | $ | 17,309 |
Developed Technology |  | 27,700 |  |  | (11,489) |  |  | 16,211 |
Tradenames |  | 750 |  |  | (184) |  |  | 566 |
Subtotal amortizable intangible assets |  | 48,920 |  |  | (14,834) |  |  | 34,086 |
Website domain name |  | 25 |  |  | — |  |  | 25 |
Total intangible assets |  | $ | 48,945 |  |  | $ | (14,834) |  |  | $ | 34,111 |
|  | As of December 31, 2023
(in thousands) |  | Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Finite-lived: |  |  |  |  |  |
Customer Relationships |  | $ | 20,470 |  |  | $ | (2,820) |  |  | $ | 17,650 |
Developed Technology |  | 27,700 |  |  | (10,151) |  |  | 17,549 |
Tradenames |  | 750 |  |  | (167) |  |  | 583 |
Subtotal amortizable intangible assets |  | 48,920 |  |  | (13,138) |  |  | 35,782 |
Website domain name |  | 25 |  |  | — |  |  | 25 |
Total intangible assets |  | $ | 48,945 |  |  | $ | (13,138) |  |  | $ | 35,807 |
Amortization expense recognized on intangible assets was $1.7 million for both the three months ended March 31, 2024 and 2023. The following table shows the estimated annual amortization expense of the definite-lived intangible assets for the next five years and thereafter (in thousands):
2024 (remaining nine months) | $ | 5,090 |
2025 | 6,786 |
2026 | 6,554 |
2027 | 3,162 |
2028 | 1,435 |
Thereafter | 11,059 |
| $ | 34,086 |

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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 + Details
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