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Intangible Assets, net | 12 Months Ended
--- | ---
Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible Assets, net | Intangible Assets, net Intangible assets, net as of December 31, 2024 and 2023 consist of the following:
|  |  | December 31,
|  |  | 2024 |  | 2023
(In thousands) | Useful Life (in years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Acquired technology | 3 to 7 |  | $ | 41,658 |  |  | $ | 41,658 |  |  | $ | 43,869 |  |  | $ | 42,712 |
Customer relationships | 5 to 12 |  | 34,653 |  |  | 28,091 |  |  | 34,773 |  |  | 25,960 |
Patents and trademarks | 10 to 20 |  | 13,356 |  |  | 12,437 |  |  | 13,103 |  |  | 12,241 |
Total |  |  | $ | 89,667 |  |  | $ | 82,186 |  |  | $ | 91,745 |  |  | $ | 80,913 |
Amortization expense was $2.6 million, $2.8 million, and $4.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. Amortization expense includes cost of sales amortization expense directly related to delivering cloud subscription revenue of $0.2 million, $0.4 million, and $0 for the years ended December 31, 2024, 2023, and 2022, respectively. Costs are recorded in "Services and other cost of goods sold" on the consolidated statements of operations. Certain intangible assets are denominated in local currencies 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 19, 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 consolidated statement of operations for the year ended December 31, 2024. During the year ended December 31, 2022, the Company performed an impairment review of the customer relationships intangible assets obtained in its 2018 acquisition of Dealflo Limited (“Dealflo”). The impairment review was triggered by the Company’s July 2022 notification to customers regarding its intent to gradually sunset its Dealflo solution in the months leading up to December 31, 2023. As a result, substantially all Dealflo solution customer contracts terminated on or before December 31, 2023. The results of the impairment review indicated that the carrying value of the Dealflo customer relationships exceeded the fair value, and the Company recorded a $3.8 million impairment charge on the entire remaining value of the asset during the year ended December 31, 2022. The charge is included in “Restructuring and other related charges” on the consolidated statements of operations and is included in "Operating income" of the Security Solutions reportable operating segment. There were no additional write-offs or impairments of intangible assets recorded during the years ended December 31, 2024, 2023, and 2022. The estimated future amortization expense of intangible assets as of December 31, 2024, is as follows:
2025 | $ | 2,333 |
2026 | 2,340 |
2027 | 2,122 |
2028 | 49 |
2029 | 40 |
Thereafter | 214 |
Subject to amortization | 7,098 |
Trademarks | 383 |
Total intangible assets | $ | 7,481 |

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