Goodwill and Acquired Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

(3) Goodwill and Acquired Intangible Assets

The following table sets forth the changes in the carrying amount of goodwill for year ended December 31, 2024 (in thousands):


Balance, December 31, 2023	$	24,723
Impairment		(602	)
Effect of foreign currency		(29	)
Balance, December 31, 2024	$	24,092

Acquired intangible assets consisted of the following at December 31, 2024 and 2023 (in thousands):


	As of December 31, 2024
	Amortization period (years)	Gross carrying amount		Accumulated amortization			Net carrying amount
Intellectual Property	7-15 years	$	16,841	$	(15,522	)	$	1,319
Trademarks	4-4.5 years		882		(882	)		—
Other	2-7 years		582		(582	)		—
In-process research and development	Indefinite		2,057		—			2,057
Total		$	20,362	$	(16,986	)	$	3,376


	As of December 31, 2023
	Amortization period (years)	Gross carrying amount		Accumulated amortization			Net carrying amount
Intellectual Property	7-15 years	$	16,841	$	(15,184	)	$	1,657
Trademarks	4-4.5 years		1,213		(1,185	)		28
Other	2-7 years		1,988		(1,319	)		669
In-process research and development	Indefinite		2,057		—			2,057
Total		$	22,099	$	(17,688	)	$	4,411

The weighted average amortization period of our finite-lived intangible assets is approximately 9 years. Amortization expense for the years ended December 31, 2024, 2023, and 2022 was $0.5 million, $1.5 million and $2.2 million, respectively. Amortization expense related to acquired intangibles is estimated at, $0.3 million for each of 2025, 2026, 2027 and 2028, and $40,000 for 2029.

IPR&D acquired in a business combination is capitalized at fair value until the underlying project is completed and is subject to impairment testing. Once the project is completed, the carrying value of IPR&D is amortized over the estimated useful life of the asset. Post-acquisition research and development expenses related to the acquired IPR&D are expensed as incurred.