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Intangible Assets and Goodwill

12 Months Ended

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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- References

No definition available.

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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

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