Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying amount of goodwill were as follows:


(In thousands)
Balance at December 31, 2021	$	48,463
Goodwill acquired during the period (1)	713
Foreign exchange effects	(24)
Balance at March 31, 2022	$	49,152

(1) During the first quarter of 2022, we recognized $0.7 million of goodwill related to the Qterics, Inc. ("Qterics") acquisition. Refer to Note 19 for further information about this acquisition.

Intangible Assets, Net

The components of intangible assets, net were as follows:


	March 31, 2022						December 31, 2021
(In thousands)	Gross (1)		Accumulated Amortization (1)		Net		Gross (1)		Accumulated Amortization (1)		Net
Capitalized software development costs	$	1,172	$	(40)	$	1,132	$	1,066	$	(27)	$	1,039
Customer relationships	6,340		(2,537)		3,803		5,000		(2,375)		2,625
Developed and core technology	4,520		(3,420)		1,100		4,080		(3,335)		745
Distribution rights	320		(271)		49		325		(269)		56
Patents	25,600		(9,431)		16,169		24,518		(9,015)		15,503
Trademarks and trade names	850		(628)		222		800		(599)		201
Total intangible assets, net	$	38,802	$	(16,327)	$	22,475	$	35,789	$	(15,620)	$	20,169

(1)This table excludes the gross value of fully amortized intangible assets totaling $43.4 million and $43.2 million at March 31, 2022 and December 31, 2021, respectively.

Amortization expense is recorded in selling, general and administrative expenses, except amortization expense related to capitalized software development costs, which is recorded in cost of sales. Amortization expense by statement of operations caption was as follows:


(In thousands)	Three Months Ended March 31,
	2022		2021
Cost of sales	$	12	$	4
Selling, general and administrative expenses	921		834
Total amortization expense	$	933	$	838

Estimated future annual amortization expense related to our intangible assets at March 31, 2022, was as follows:


(In thousands)
2022 (remaining 9 months)	$	3,035
2023	4,085
2024	3,484
2025	2,953
2026	2,741
Thereafter	6,177
Total	$	22,475