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Goodwill and Other Intangibles | 12 Months Ended
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Dec. 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 or intangibles noted for the years ended December 31, 2024 and 2023. Goodwill has a carrying value of $148.1 million as of both December 31, 2024 and 2023. Total intangibles, net, consisted of the following as of December 31, 2024 and 2023:
|  | As of December 31, 2024
(in thousands) |  | Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Finite-lived: |  |  |  |  |  |
Customer Relationships |  | $ | 20,470 |  |  | $ | (4,185) |  |  | $ | 16,285 |
Developed Technology |  | 27,700 |  |  | (15,502) |  |  | 12,198 |
Tradenames |  | 750 |  |  | (237) |  |  | 513 |
Subtotal amortizable intangible assets |  | 48,920 |  |  | (19,924) |  |  | 28,996 |
Website domain name |  | 25 |  |  | — |  |  | 25 |
Total intangible assets |  | $ | 48,945 |  |  | $ | (19,924) |  |  | $ | 29,021 |
|  | 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 $6.8 million, $6.8 million, and $5.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. The following table shows the estimated annual amortization expense of the definite-lived intangible assets for the next five years and thereafter (in thousands):
2025 |  | $ | 6,786 |
2026 |  | 6,554 |
2027 |  | 3,162 |
2028 |  | 1,435 |
2029 |  | 1,435 |
Thereafter |  | 9,624 |
|  | $ | 28,996 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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