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Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Acquired identifiable intangible assets, and related accumulated amortization, as of June 30, 2024 and December 31, 2023 consisted of:

 

 

 

June 30, 2024

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

 

(in thousands)

 

Customer relationships

 

$

12,541

 

 

$

7,530

 

 

$

5,011

 

Tradenames

 

 

18,673

 

 

 

3,468

 

 

 

15,205

 

Developed technology

 

 

29,590

 

 

 

3,148

 

 

 

26,442

 

Foreign currency

 

 

(1,189

)

 

 

(1,214

)

 

 

25

 

Total Intangible Assets (1)

 

$

59,615

 

 

$

12,932

 

 

$

46,683

 

 

 

 

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 June 30, 2024 and December 31, 2023.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of June 30, 2024, estimated annual amortization expense related to definite lived intangible assets in future periods was as follows:

 

 

 

(in thousands)

 

2024

 

$

4,299

 

2025

 

 

8,016

 

2026

 

 

7,761

 

2027

 

 

7,591

 

Thereafter

 

 

18,991

 

Total

 

$

46,658

 
Schedule of Changes in Carrying Values of Goodwill

Changes in the carrying values of goodwill for the six months ended June 30, 2024 from the balance as of December 31, 2023.

 

 

 

(in thousands)

 

Balance as of January 1, 2024

 

$

10,686

 

PDP acquisition

 

 

46,076

 

Balance as of June 30, 2024

 

$

56,762