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Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Acquired identifiable intangible assets, and related accumulated amortization, as of March 31, 2024 and December 31, 2023 consisted of:

 

 

 

March 31, 2024

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

 

(in thousands)

 

Customer relationships

 

$

10,152

 

 

$

7,336

 

 

$

2,816

 

Tradenames

 

 

18,225

 

 

 

2,812

 

 

 

15,413

 

Developed technology

 

 

32,307

 

 

 

1,853

 

 

 

30,454

 

Foreign currency

 

 

(1,121

)

 

 

(1,142

)

 

 

21

 

Total Intangible Assets (1)

 

$

59,563

 

 

$

10,859

 

 

$

48,704

 

 

 

 

December 31, 2023

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

 

(in thousands)

 

Customer relationships

 

$

8,085

 

 

$

7,214

 

 

$

871

 

Tradenames

 

 

3,066

 

 

 

2,607

 

 

 

459

 

Developed technology

 

 

1,884

 

 

 

1,613

 

 

 

271

 

Foreign currency

 

 

(1,159

)

 

 

(1,292

)

 

 

133

 

Total Intangible Assets (1)

 

$

11,876

 

 

$

10,142

 

 

$

1,734

 

 

(1) The accumulated amortization includes $1.9 million of accumulated impairment charges as of March 31, 2024 and December 31, 2023.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of March 31, 2024, estimated annual amortization expense related to definite lived intangible assets in future periods was as follows:

 

 

 

(in thousands)

 

2024

 

$

6,440

 

2025

 

 

8,006

 

2026

 

 

7,751

 

2027

 

 

7,581

 

Thereafter

 

 

18,905

 

Total

 

$

48,683

 

 
Schedule of Changes in Carrying Values of Goodwill

Changes in the carrying values of goodwill for the three months ended March 31, 2024 from the balance as of December 31, 2023.

 

 

 

(in thousands)

 

Balance as of January 1, 2024

 

$

10,686

 

PDP acquisition

 

 

42,221

 

Balance as of March 31, 2024

 

$

52,907