XML 25 R14.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

7. Goodwill and Intangible Assets

Goodwill and intangible assets, net consisted of the following as of March 31, 2024 and December 31, 2023:


(in thousands)	March 31, 2024		December 31, 2023
Goodwill	$	83,979	$	83,979
Definite-lived intangible assets
Completed technology	233,158		233,158
Less: Accumulated amortization	(87,443)		(84,328)
Customer relationships	11,100		11,100
Less: Accumulated amortization	(4,760)		(4,463)
Intangible assets, net	$	152,055	$	155,467
Total goodwill and other identifiable intangible assets, net	$	236,034	$	239,446

Goodwill

There were no changes in the carrying amount of goodwill during the three months ended March 31, 2024 and 2023.

Intangible Assets

Amortization of finite-lived intangible assets is computed using the straight-line method over the estimated useful life of the asset of up to 20 years and is reflected within amortization of intangibles expense on the condensed consolidated statements of operations. Amortization expense of $3.4 million was recognized during the three months ended March 31, 2024 and 2023. For each of the three months ended March 31, 2024 and 2023, there was no impairment of intangible assets with finite lives.

The remaining weighted-average useful life of definite lived intangible assets is 11.7 years. At March 31, 2024, future amortization expense on intangible assets is estimated to be as follows (in thousands):


Maturity Dates	Amount
Remaining nine months ended December 31, 2024	$	10,235
2025	13,527
2026	13,487
2027	13,487
2028	13,487
Thereafter	87,832
Total future amortization expense	$	152,055