Intangible Assets, Net

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets consist primarily of developed technology and patent licenses acquired from business or asset acquisitions. Acquired intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets.

The carrying values of intangible assets are as follows:


			September 30, 2023
(in thousands)	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.2	$	40,141	$	(29,965)	$	10,176
Patent licenses	14.0	0.9	1,387		(1,297)		90
Assembled workforce	2.0	1.0	359		(179)		180
Total intangibles subject to amortization			$	41,887	$	(31,441)	$	10,446
Intangible assets not subject to amortization							40
Total intangible assets, net							$	10,486


	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	December 31, 2022
(in thousands)			Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.4	$	40,141	$	(27,860)	$	12,281
Patent licenses	14.0	1.7	1,387		(1,221)		166
Assembled workforce	2.0	1.7	359		(45)		314
Total intangibles subject to amortization			$	41,887	$	(29,126)	$	12,761
Intangible assets not subject to amortization							40
Total intangible assets, net							$	12,801

Intangible asset amortization expense was $0.8 million and $1.3 million for the three months ended September 30, 2023 and 2022, respectively, and $2.3 million and $4.5 million for the nine months ended September 30, 2023 and 2022. Intangible asset amortization expenses were primarily recorded in cost of revenues in the condensed consolidated statements of operations.

As of September 30, 2023, the Company expects amortization expense in future periods to be as follows:


	(in thousands)
2023 (remaining three months)	$	771
2024	2,904
2025	2,556
2026	2,477
2027	1,738
Total expected future amortization expense	$	10,446