Intangible Assets

6 Months Ended

Jun. 30, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible assets as of June 30, 2024 and December 31, 2023 consist of the following:


		As of June 30, 2024				As of December 31, 2023
(In thousands)	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Acquired technology	3 to 7	$	42,248	$	42,082	$	43,869	$	42,712
Customer relationships	5 to 12	34,721		27,020		34,773		25,960
Patents, trademarks, and other	10 to 20	13,112		12,300		13,103		12,241
Total		$	90,081	$	81,402	$	91,745	$	80,913

Amortization expense was $0.7 million and $1.4 million for the three and six months ended June 30, 2024, respectively, compared to $0.7 million and $1.3 million for the three and six months ended June 30, 2023, respectively. Amortization expense includes cost of sales amortization expense directly related to delivering cloud subscription revenue of $0.1 million and $0.2 million for the three and six months ended June 30, 2024, respectively, and $0.1 million and $0.2 million for the three and six months ended June 30, 2023, respectively. Costs are recorded in "Services and other cost of goods sold" on the condensed consolidated statements of operations.

Certain intangible assets are denominated in functional currencies besides the U.S. dollar and are subject to currency fluctuations.

In connection with the continued execution of cost reductions, during the quarter ended June 30, 2024, the Company decided to stop any incremental development investments supporting its previously acquired blockchain technology and related commercial efforts (see Note 16, Restructuring and Other Related Charges). This asset contributed no revenue as it was still in its investment stage. As a result, the Company wrote-off $0.8 million associated with the remaining unamortized value of this intangible asset in "Services and other cost of goods sold" on the condensed consolidated statements of operations for the three and six months ended June 30, 2024.

There were no other write-offs or impairments of intangible assets recorded during the six months ended June 30, 2024 and 2023.