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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 6. Goodwill and Intangible Assets As of September 30, 2024 and December 31, 2023, the Company had recorded goodwill of $13.5 million. No goodwill impairment was recognized for the nine months ended September 30, 2024 and 2023. Amortization of the intangible assets that have finite useful lives is generally recorded on a straight-line basis over their useful lives, ranging from 7.1 to 13.3 years. A summary of the Company’s identifiable intangible assets as of September 30, 2024 and December 31, 2023 is as follows (in thousands):
| September 30, 2024 |
| Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Intangibles, net |
Patent rights | $ | 32,630 |  |  | $ | 17,226 |  |  | $ | 15,404 |
Acquired technology |  | 21,940 |  |  |  | 8,777 |  |  |  | 13,163 |
Acquired licenses |  | 5,711 |  |  |  | 824 |  |  |  | 4,887 |
Assembled workforce |  | 500 |  |  |  | 500 |  |  |  | — |
Total intangible assets | $ | 60,781 |  |  | $ | 27,327 |  |  | $ | 33,454 |
| December 31, 2023 |
| Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Intangibles, net |
Patent rights | $ | 32,630 |  |  | $ | 15,591 |  |  | $ | 17,039 |
Acquired technology |  | 21,940 |  |  |  | 7,679 |  |  |  | 14,261 |
Acquired licenses |  | 5,711 |  |  |  | 551 |  |  |  | 5,160 |
Assembled workforce |  | 500 |  |  |  | 475 |  |  |  | 25 |
Total intangible assets | $ | 60,781 |  |  | $ | 24,296 |  |  | $ | 36,485 |
As of September 30, 2024, the weighted average remaining life for identifiable intangible assets was 8.7 years. Aggregate amortization expense was $1.0 million and $3.0 million for the three and nine months ended September 30, 2024. Aggregate amortization expense was $1.0 million and $3.1 million for the three and nine months ended September 30, 2023, respectively. Estimated future amortization expense related to intangible assets as of September 30, 2024 is as follows (in thousands):
| Amount |
2024 (remainder of 2024) | $ | 1,000 |
2025 |  | 4,006 |
2026 |  | 4,006 |
2027 |  | 4,006 |
2028 |  | 4,006 |
Thereafter |  | 16,430 |
Total | $ | 33,454 |

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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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