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Note 4 - Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
4. | Goodwill and Intangible Assets
The change in the carrying amount of goodwill for the six months ended June 30, 2024 was as follows:
(in thousands) |  |  |  |
Carrying amount at December 31, 2023 |  | $ | 57,065 |
Effect of change in currency translation |  |  | (438 | )
Carrying amount at June 30, 2024 |  | $ | 56,627 |
Intangible assets at June 30, 2024 and December 31, 2023 consisted of the following:
|  | June 30, 2024 |  |  | December 31, 2023 |
(in thousands) |  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
Amortizable intangible assets: |  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Customer relationships |  | $ | 15,785 |  |  | $ | (10,051 | ) |  | $ | 5,734 |  |  | $ | 16,038 |  |  | $ | (9,706 | ) |  | $ | 6,332 |
Technology and software development |  |  | 35,102 |  |  |  | (28,810 | ) |  |  | 6,292 |  |  |  | 35,007 |  |  |  | (27,029 | ) |  |  | 7,978 |
Trade names and patents |  |  | 7,519 |  |  |  | (6,304 | ) |  |  | 1,215 |  |  |  | 7,613 |  |  |  | (6,094 | ) |  |  | 1,519 |
Total amortizable intangible assets |  | $ | 58,406 |  |  | $ | (45,165 | ) |  | $ | 13,241 |  |  | $ | 58,658 |  |  | $ | (42,829 | ) |  | $ | 15,829 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  | 200 |  |  |  |  |  |  |  |  |  |  |  | 207 |
Total intangible assets |  |  |  |  |  |  |  |  |  | $ | 13,441 |  |  |  |  |  |  |  |  |  |  | $ | 16,036 |
Intangible asset amortization expense for the three and six months ended June 30, 2024 and 2023 was as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cost of revenues |  | $ | 43 |  |  | $ | - |  |  | $ | 87 |  |  | $ | - |
Operating expense |  |  | 1,331 |  |  |  | 1,389 |  |  |  | 2,664 |  |  |  | 2,777 |
Total amortization of intangible assets |  | $ | 1,374 |  |  | $ | 1,389 |  |  | $ | 2,751 |  |  | $ | 2,777 |
As of June 30, 2024, estimated future amortization expense of amortizable intangible assets is as follows:
(in thousands) |  |  |  |
2024 (remainder of the year) |  | $ | 2,674 |
2025 |  |  | 4,195 |
2026 |  |  | 2,534 |
2027 |  |  | 1,263 |
2028 |  |  | 1,239 |
Thereafter |  |  | 1,336 |
Total |  | $ | 13,241 |

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