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Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 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):
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 26,073 |  |  | $ | (7,403 | ) |  | $ | 18,670 |  |  | $ | 26,073 |  |  | $ | (5,260 | ) |  | $ | 20,813 |
Developed technologies |  |  | 4,900 |  |  |  | (3,081 | ) |  |  | 1,819 |  |  |  | 4,900 |  |  |  | (2,269 | ) |  |  | 2,631 |
Trademark and trade names |  |  | 400 |  |  |  | (361 | ) |  |  | 39 |  |  |  | 400 |  |  |  | (288 | ) |  |  | 112 |
Total acquired intangible assets |  | $ | 31,373 |  |  | $ | (10,845 | ) |  | $ | 20,528 |  |  | $ | 31,373 |  |  | $ | (7,817 | ) |  | $ | 23,556 |
As of December 31, 2024, the weighted average remaining useful life for customer relationships was 12.4 years, developed technologies was 2.4 years, and trademarks and trade names was 0.4 years. Amortization expense for customer relationships intangible assets is included in selling and marketing expenses and totaled $2,105 and $2,182 for the years ended December 31, 2024 and 2023, respectively. Amortization expense for developed technologies intangible assets is included in cost of software solutions revenue and totaled $812 and $860 for the years ended December 31, 2024 and 2023, respectively. Amortization expense for trademark and trade name intangible assets is included in general and administrative expenses and totaled $111 and $127 for the years ended December 31, 2024 and 2023, respectively. As of December 31, 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, |  |  |
2025 |  | $ | 2,770 |
2026 |  |  | 2,457 |
2027 |  |  | 2,202 |
2028 |  |  | 1,637 |
2029 and thereafter |  |  | 11,462 |
Total |  | $ | 20,528 |
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 December 31, 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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