Quarterly report pursuant to Section 13 or 15(d)

GOODWILL & INTANGIBLE ASSETS (Tables)

v3.24.3
GOODWILL & INTANGIBLE ASSETS (Tables)
9 Months Ended
Sep. 30, 2024
GOODWILL & INTANGIBLE ASSETS  
Schedule of goodwill activity The goodwill activity is as follows (in thousands):

September 30, 

December 31, 

2024

2023

Balance, beginning of year

$

$

112,955

Goodwill impairment

(112,911)

Foreign currency translation adjustment

(44)

Balance, end of period

$

$

Schedule of intangible assets

Intangible assets consisted of the following (in thousands):

September 30, 2024

 

December 31, 2023

Weighted Average

Gross

Net

    

Gross

Net

Remaining Useful

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

 

Lives (in years)

 

Amount

 

Amortization

 

Amount

 

Amount

 

Amortization

 

Amount

Acquired technology

7.1

$

185,538

$

128,413

$

57,125

 

$

185,222

$

65,724

$

119,498

Trade name

5.2

12,304

11,254

1,050

12,302

3,952

8,350

Customer relationships

8.2

68,573

51,451

17,122

68,378

27,968

40,410

Capitalized software

518

518

518

518

Total intangible assets

$

266,933

$

191,636

$

75,297

$

266,421

$

98,162

$

168,259

Schedule of amortization expenses

During the three and nine months ended September 30, 2024 and 2023, the Company recognized the following amortization expense (in thousands):

Statement of

Three Months Ended September 30, 

    

Nine Months Ended September 30, 

Category

Operations Line Item

2024

2023

2024

2023

Acquired technology

Cost of Sales

$

5,029

$

6,889

$

62,038

$

20,744

Acquired technology

Research and Development

175

556

525

1,665

Trade name

General and Administrative

121

416

7,301

1,249

Customer relationships

Sales and Marketing

930

2,537

23,369

7,594

Capitalized software

Research and Development

0

45

$

6,255

$

10,398

$

93,233

$

31,297

Schedule of future amortization expense

The Company expects to recognize the following amortization expense (in thousands):

Amortization Expense

2024 (remaining 3 months)

$

6,155

2025

22,040

2026

15,275

2027

10,542

2028

8,103

2029 and after

13,182

Total intangible amortization

$

75,297