Goodwill and Acquired Intangible Assets, net

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets, net

4. Goodwill and Acquired Intangible Assets, net

The changes in the carrying value of goodwill by segment are as follows (in thousands):

	Proteomics		Genomics			Total
Balance as of December 31, 2023	$	85,798	$	20,519		$	106,317
Foreign currency translation		27		(2	)		25
Balance as of September 30, 2024	$	85,825	$	20,517		$	106,342

Acquired intangible assets, net consisted of the following (in thousands):

	September 30, 2024							December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Developed technology	$	137,414	$	(119,081	)	$	18,333	$	117,354	$	(115,954	)	$	1,400
Trade name		2,750		(294	)		2,456		—		—			—
Customer relationships		2,750		(172	)		2,578		—		—			—
Acquired intangible assets, net	$	142,914	$	(119,547	)	$	23,367	$	117,354	$	(115,954	)	$	1,400

Total amortization expense of the Company's acquired intangible assets was $0.7 million and $2.8 million for the three months ended September 30, 2024 and 2023, respectively. Total amortization expense of the Company's acquired intangible assets was $3.5 million and $8.4 million for the nine months ended September 30, 2024 and 2023, respectively. There were no indicators of impairment of goodwill, long-lived assets or intangible assets during the nine months ended September 30, 2024.

As of September 30, 2024, future expected amortization expense of acquired intangible assets, net was as follows (in thousands):

Fiscal Period
2024 remainder of the year	$	711
2025		2,844
2026		2,844
2027		2,844
2028		2,844
Thereafter		11,280
Total	$	23,367