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Intangible Assets and Goodwill | 9 Months Ended
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Sep. 30, 2024
Intangible Assets and Goodwill |
Intangible Assets And Goodwill | 8. Intangible Assets and Goodwill Acquired intangible assets subject to amortization consist of the following (in thousands):
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 26,073 |  |  | $ | (6,869 | ) |  | $ | 19,204 |  |  | $ | 26,073 |  |  | $ | (5,260 | ) |  | $ | 20,813 |
Developed technologies |  |  | 4,900 |  |  |  | (2,878 | ) |  |  | 2,022 |  |  |  | 4,900 |  |  |  | (2,269 | ) |  |  | 2,631 |
Trademark and trade names |  |  | 400 |  |  |  | (343 | ) |  |  | 57 |  |  |  | 400 |  |  |  | (288 | ) |  |  | 112 |
Total acquired intangible assets |  | $ | 31,373 |  |  | $ | (10,090 | ) |  | $ | 21,283 |  |  | $ | 31,373 |  |  | $ | (7,817 | ) |  | $ | 23,556 |
As of September 30, 2024, the weighted average remaining useful life for customer relationships was 12.6 years and developed technologies was 2.7 years and trademarks and trade names was 0.7 years. Amortization expense for customer relationships intangible assets is included in selling and marketing expenses and totaled $526 and $552 for the three months ended September 30, 2024 and 2023, respectively, and $1,579 and $1,630 for the nine months ended September 30, 2024 and 2023, respectively. Amortization expense for developed technologies intangible assets is included in cost of software solutions revenue and totaled $203 and $215 for the three months ended September 30, 2024 and 2023, respectively, and $609 and $662 for the nine months ended September 30, 2024 and 2023, respectively. Amortization expense for trademark and trade name intangible assets is included in general and administrative expenses and totaled $26 and $25 for the three months ended September 30, 2024 and 2023, respectively, and $85 and $102 for the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, annual amortization of definite lived intangible assets, based on existing intangible assets and current useful lives, is estimated to be the following (in thousands):
Year ending December 31, |  |  |
2024 remaining |  | $ | 755 |
2025 |  |  | 2,770 |
2026 |  |  | 2,457 |
2027 |  |  | 2,202 |
2028 |  |  | 1,637 |
2029 and thereafter |  |  | 11,462 |
Total |  | $ | 21,283 |
The following table provides a summary of changes in the carrying amounts of goodwill (in thousands):
|  | Goodwill |
Balance at January 1, 2023 |  | $ | 9,454 |
Additions |  |  | - |
Balance at December 31, 2023 |  | $ | 9,454 |
Additions |  |  | - |
Balance at September 30, 2024 |  | $ | 9,454 |

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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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