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Note 4 - Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2024

4.	Goodwill and Intangible Assets

The change in the carrying amount of goodwill for the nine months ended September 30, 2024 was as follows:

(in thousands)
Carrying amount at December 31, 2023	$	57,065
Effect of change in currency translation		374
Carrying amount at September 30, 2024	$	57,439

Intangible assets, net at September 30, 2024 and December 31, 2023 consisted of the following:

	September 30, 2024							December 31, 2023
(in thousands)			Accumulated							Accumulated
Amortizable intangible assets:	Gross		Amortization			Net		Gross		Amortization			Net
Customer relationships	$	16,026	$	(10,538	)	$	5,488	$	16,038	$	(9,706	)	$	6,332
Technology and software development		35,468		(29,893	)		5,575		35,007		(27,029	)		7,978
Trade names and patents		7,606		(6,536	)		1,070		7,613		(6,094	)		1,519
Total amortizable intangible assets	$	59,100	$	(46,967	)	$	12,133	$	58,658	$	(42,829	)	$	15,829
Indefinite-lived intangible assets:							208							207
Total intangible assets						$	12,341						$	16,036

Intangible asset amortization expense for the three and nine months ended September 30, 2024 and 2023 was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Cost of revenues	$	44	$	-	$	131	$	-
Operating expense		1,334		1,361		3,998		4,138
Total amortization of intangible assets	$	1,378	$	1,361	$	4,129	$	4,138

As of September 30, 2024, estimated future amortization expense of amortizable intangible assets is as follows: