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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 7. Goodwill and Intangible Assets Goodwill The change in the carrying amounts of goodwill was as follows:
| Total
| (In thousands)
Balance as of December 31, 2023 | $ | 335,872 |
Foreign currency translation adjustments | 4,515 |
Balance as of September 30, 2024 | $ | 340,387 |
Intangible Assets Intangible assets, net consisted of the following:
| As of September 30, |  | As of December 31,
| 2024 |  | 2023
| Gross Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Amount |  | Accumulated Amortization |  | Net Carrying Value
| (In thousands)
Customer relationships | $ | 154,049 |  |  | $ | (44,570) |  |  | $ | 109,479 |  |  | $ | 147,426 |  |  | $ | (35,599) |  |  | $ | 111,827 |
Developed technology | 80,796 |  |  | (31,645) |  |  | 49,151 |  |  | 79,702 |  |  | (25,239) |  |  | 54,463 |
Other, definite lived | 2,828 |  |  | (2,828) |  |  | — |  |  | 2,828 |  |  | (2,828) |  |  | — |
Licenses, indefinite lived | 624 |  |  | — |  |  | 624 |  |  | 624 |  |  | — |  |  | 624 |
Total intangible assets, net | $ | 238,297 |  |  | $ | (79,043) |  |  | $ | 159,254 |  |  | $ | 230,580 |  |  | $ | (63,666) |  |  | $ | 166,914 |
The Company recognized amortization expense as follows:
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
| (In thousands)
Cost of revenue | $ | 1,977 |  |  | $ | 1,959 |  |  | $ | 5,877 |  |  | $ | 5,863 |  |  |
Sales and marketing | 2,459 |  |  | 2,389 |  |  | 7,256 |  |  | 7,097 |  |  |
Total amortization expense | $ | 4,436 |  |  | $ | 4,348 |  |  | $ | 13,133 |  |  | $ | 12,960 |  |  |
The remaining weighted average amortization period for definite lived intangible assets is 9.2 years. Future estimated amortization expense for definite lived intangible assets is as follows:
| As of September 30,
| 2024
| (In thousands)
2024 (remaining) | $ | 4,544 |
2025 | 18,176 |
2026 | 18,176 |
2027 | 18,176 |
2028 | 18,176 |
Thereafter | 81,382 |
| $ | 158,630 |

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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 + Details
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