Intangible Assets, Net

9 Months Ended

Sep. 30, 2024

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, 2024
(in thousands)	Weighted Average Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	$	40,141	$	(32,730)	$	7,411
Patent licenses	14.0	1,387		(1,387)		—
Assembled workforce	2.0	359		(359)		—
Total intangibles subject to amortization		$	41,887	$	(34,476)	$	7,411
Intangible assets not subject to amortization						40
Total intangible assets, net						$	7,451


		December 31, 2023
(in thousands)	Weighted Average Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	$	40,141	$	(30,667)	$	9,474
Patent licenses	14.0	1,387		(1,322)		65
Assembled workforce	2.0	359		(223)		136
Total intangibles subject to amortization		$	41,887	$	(32,212)	$	9,675
Intangible assets not subject to amortization						40
Total intangible assets, net						$	9,715

Intangible asset amortization expense was $0.7 million and $0.8 million for the three months ended September 30, 2024 and 2023, respectively, and $2.3 million and $2.3 million for the nine months ended September 30, 2024 and 2023, respectively. Intangible asset amortization expenses were primarily recorded in cost of revenues in the condensed consolidated statements of operations.

As of September 30, 2024, the Company expects amortization expense in future periods to be as follows:


	(in thousands)
2024 (remaining three months)	$	640
2025	2,556
2026	2,477
2027	1,738

Total expected future amortization expense	$	7,411