Goodwill and Acquired Intangible Assets, Net

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets, Net

The carrying amounts of the Company's goodwill was $174.4 million as of March 31, 2023 and December 31, 2022. The Company tests goodwill for impairment at least annually, in the fourth quarter, or whenever events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. We did not record any goodwill impairment during the three months ended March 31, 2023.

Acquired intangible assets consisted of the following (in thousands):


	March 31, 2023						December 31, 2022
	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value
Developed technology	$	22,396	$	(21,058)	$	1,338	$	22,396	$	(20,854)	$	1,542
Customer relationships	74,884		(56,545)		18,339		74,884		(54,519)		20,365
Tradenames	1,650		(1,650)		—		1,650		(1,650)		—
Acquired intangible assets, net	$	98,930	$	(79,253)	$	19,677	$	98,930	$	(77,023)	$	21,907

The following tables set forth the amortization expense recorded related to acquired intangible assets for the three months ended March 31, 2023 and 2022 (in thousands):


	Three Months Ended March 31,
		2023		2022
Cost of net revenue		$	203	$	203
Sales, marketing and support		2,027		2,172
General and administrative		—		6
Total amortization of acquired intangible assets		$	2,230	$	2,381

As of March 31, 2023, the total expected future amortization expense of acquired intangible assets by year is as follows (in thousands):


The remainder of 2023	$	6,363
2024	8,300
2025	5,014
2026 and thereafter	—
Total expected future amortization expense	$	19,677