Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

7. Goodwill and Other Intangible Assets

Goodwill recorded in connection with the Company’s acquisitions is primarily attributable to the assembled workforce and anticipated operational synergies. Goodwill was $53,110 as of both March 31, 2025 and December 31, 2024, respectively. There were no additions to, or impairments of, goodwill during the three months ended March 31, 2025 and 2024.

The gross carrying amounts and accumulated amortization of the Company’s finite-lived intangible assets as of March 31, 2025 and December 31, 2024 were as follows:


	March 31, 2025
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology	$	44,100	$	(35,805	)	$	8,295
Customer relationships		99,000		(54,471	)		44,529
Trademarks and trade names		2,300		(1,578	)		722
Total finite-lived intangible assets	$	145,400	$	(91,854	)	$	53,546


	December 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		44,100		(33,561	)		10,539
Customer relationships		99,000		(50,866	)		48,134
Trademarks and trade names		2,300		(1,473	)		827
Total finite-lived intangible assets	$	145,400	$	(85,900	)	$	59,500

Amortization expense related to developed technology, customer relationships, and trademarks and trade names is recorded in depreciation and amortization within the Company’s consolidated statements of operations. Amortization expense of finite-lived intangible assets was $5,947 and $5,991 for the three months ended March 31, 2025 and 2024, respectively.

The following table presents future amortization of the Company’s finite-lived intangible assets as of March 31, 2025:


	Amount
2025	$	15,473
2026		16,569
2027		13,541
2028		7,870
2029		93
Total	$	53,546