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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | . Goodwill and Intangible Assets Goodwill The change in the carrying amount of goodwill during the period ended March 31, 2025, includes the following (in thousands):
December 31, 2024 |  | $ | 70,976 |
Foreign currency fluctuation |  |  | 1,358 |
March 31, 2025 |  | $ | 72,334 |
Intangible assets, net Intangible assets, net consist of the following (in thousands, except as indicated):
|  | Remaining Avg. Useful lives |  | Gross |  |  | Accumulated |  |  | Intangible |
March 31, 2025: |  | (in years) |  | Amount |  |  | Amortization |  |  | Assets, net |
Developed product technology |  | 5 |  | $ | 105,050 |  |  | $ | (42,166 | ) |  | $ | 62,884 |
Internally developed software |  | 6 |  |  | 14,373 |  |  |  | (3,087 | ) |  |  | 11,286 |
Trademarks and trade names |  | 6 |  |  | 5,482 |  |  |  | (2,144 | ) |  |  | 3,338 |
Customer relationships |  | 3 |  |  | 14,336 |  |  |  | (10,583 | ) |  |  | 3,753 |
Distribution network |  | – |  |  | 2,413 |  |  |  | (2,413 | ) |  |  | — |
Total amortized intangible assets |  |  |  |  | 141,654 |  |  |  | (60,393 | ) |  |  | 81,261 |
Software in development |  | n/a |  |  | 5,494 |  |  |  | — |  |  |  | 5,494 |
In-process research and development |  | n/a |  |  | 8,285 |  |  |  | — |  |  |  | 8,285 |
Total intangible assets |  |  |  | $ | 155,433 |  |  | $ | (60,393 | ) |  | $ | 95,040 |
|  |  |  | . |  |  |  |  |  |  |
|  | Remaining Avg. Useful lives |  | Gross |  |  | Accumulated |  |  | Intangible |
December 31, 2024: |  | (in years) |  | Amount |  |  | Amortization |  |  | Assets, net |
Developed product technology |  | 5 |  | $ | 102,412 |  |  | $ | (38,055 | ) |  | $ | 64,357 |
Internally developed software |  | 3 |  |  | 4,283 |  |  |  | (1,515 | ) |  |  | 2,768.0 |
Trademarks and trade names |  | 7 |  |  | 5,267 |  |  |  | (1,991 | ) |  |  | 3,276 |
Customer relationships |  | 2 |  |  | 13,996 |  |  |  | (10,094 | ) |  |  | 3,902 |
Distribution network |  | – |  |  | 2,413 |  |  |  | (2,410 | ) |  |  | 3 |
Total amortized intangible assets |  |  |  |  | 128,371 |  |  |  | (54,065 | ) |  |  | 74,306 |
Software in development |  | n/a |  |  | 12,927 |  |  |  | — |  |  |  | 12,927 |
In-process research and development |  | n/a |  |  | 6,285 |  |  |  | — |  |  |  | 6,285 |
Total intangible assets |  |  |  | $ | 147,583 |  |  | $ | (54,065 | ) |  | $ | 93,518 |
Total amortization expense attributed to intangible assets w as $4.2 m illion for each of the three months ended March 31, 2025 and 2024. Software in development is amortized when the projects are completed and the assets are ready for their intended use. In-process research and development assets begin amortizing when the relevant products reach full commercial launch. Future amortization expense related to intangible assets is as follows (in thousands):
Remainder of 2025 |  | $ | 12,574 |
2026 |  |  | 16,766 |
2027 |  |  | 16,315 |
2028 |  |  | 11,501 |
2029 |  |  | 11,116 |
Thereafter |  |  | 12,989 |
|  | $ | 81,261 |

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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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