Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill of $62.6 million and intangible assets of $22.0 million were recorded as a result of the Company's acquisition of Aceyus, Inc. ("Aceyus") in August 2023. See Note 13 for further details. The following table summarizes the activity in the Company's goodwill and intangible asset balances during the nine months ended September 30, 2023 (in thousands):


	Goodwill		Intangible Assets
Beginning of the period, December 31, 2022	$	165,420	$	28,192
Addition (Aceyus)	61,992		22,150
Amortization	—		(8,873)
End of the period, September 30, 2023	$	227,412	$	41,469

The components of intangible assets were as follows (in thousands):



	September 30, 2023							December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization period (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization period (Years)
Developed technology	$	75,314	$	(37,472)	$	37,842	5.3	$	56,214	$	(28,881)	$	27,333	3.2
Acquired workforce	470		(470)		—		0.0	470		(470)		—		0.0
Customer relationships	4,150		(1,002)		3,148		4.3	1,600		(741)		859		2.7
Trademarks	1,000		(521)		479		2.9	500		(500)		—		0.0
Total	$	80,934	$	(39,465)	$	41,469	5.2	$	58,784	$	(30,592)	$	28,192	3.2

Amortization expense related to intangible assets was $3.2 million and $8.9 million for the three and nine months ended September 30, 2023, respectively. Amortization expense related to intangible assets was $2.9 million and $8.8 million for the three and nine months ended September 30, 2022, respectively.

As of September 30, 2023, the expected future amortization expense for intangible assets was as follows (in thousands):


Period	Expected Future Amortization Expense
Remaining 2023	$	3,143
2024	10,591
2025	8,660
2026	7,201
2027	2,898
Thereafter	8,976
Total	$	41,469