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Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The following table summarizes the carrying amounts of goodwill by segment at September 30, 2024 and December 31, 2023 (in thousands):

						September 30, 2024						December 31, 2023
Clinical Services						$	458,782					$	458,782
Advanced Diagnostics						63,984						63,984
Total						$	522,766					$	522,766

Intangible assets consisted of the following (in thousands):

												September 30, 2024
						Amortization Period (years)						Cost						Accumulated Amortization						Net
Customer Relationships						7 - 15						$	143,101					$	72,951					$	70,150
Developed Technology						10 - 15						310,226						70,428						239,798
Marketing Assets						4						549						480						69
Trademarks						15						31,473						6,895						24,578
Trade Name						2.5						2,584						2,584						—
Trademark - Indefinite lived						—						13,447						—						13,447
Total												$	501,380					$	153,338					$	348,042

 

												December 31, 2023
						Amortization Period (years)						Cost						Accumulated Amortization						Net
Customer Relationships						7 - 15						$	143,101					$	65,534					$	77,567
Developed Technology						10 - 15						310,226						54,438						255,788
Marketing Assets						4						549						376						173
Trademarks						15						31,473						5,321						26,152
Trade Name						2.5						2,584						2,583						1
Trademark - Indefinite lived						—						13,447						—						13,447
Total												$	501,380					$	128,252					$	373,128

The Company records amortization expense within cost of revenue and general and administrative expense on the Consolidated Statement of Operations. The following table summarizes the amortization expense for the three and nine months ended September 30, 2024 and 2023 (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Amortization of intangibles included in cost of revenue						$	4,910					$	4,853					$	14,729					$	14,560
Amortization of intangibles included in general and administrative expenses						3,452						3,931						10,356						11,790
Total amortization of intangibles						$	8,362					$	8,784					$	25,085					$	26,350

The estimated amortization expense related to amortizable intangible assets for each of the following periods as of September 30, 2024 is as follows (in thousands):

 

Remainder of 2024			$	8,362
2025			33,343
2026			33,308
2027			32,758
2028			32,758
Thereafter			194,066
Total			$	334,595

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- References

No definition available.

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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

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