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Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

There were no changes to the carrying amount of goodwill during the three months ended March 31, 2024 and 2023. No goodwill impairment was recorded during the three months ended March 31, 2024 and 2023.

Intangible Assets, Net

The following table summarizes intangible assets:


	March 31, 2024						December 31, 2023
(in thousands)	Gross carrying amount		Accumulated Amortization		Net carrying amount		Gross carrying amount		Accumulated Amortization		Net carrying amount
Definite-lived intangible assets	$	44,426	$	(12,336)	$	32,090	$	44,426	$	(8,969)	$	35,457
Indefinite-lived intangible assets	986		—		986		986		—		986
Intangible assets, net	$	45,412	$	(12,336)	$	33,076	$	45,412	$	(8,969)	$	36,443

Amortization expense was $3.4 million and $152 thousand during the three months ended March 31, 2024 and 2023, respectively. The increase in amortization expense was due to the intangible assets purchased in the acquisitions, (see Note 4, “Acquisitions” for additional details). Amortization expense was included in Research and Development in the Condensed Consolidated Statements of Operations. No indefinite-lived intangible asset impairment charges were recorded during the three months ended March 31, 2024 and 2023.