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Goodwill and Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Gross Carrying Amount of Goodwill The following table displays the changes in the gross carrying amount of goodwill (in thousands):

Balance at December 31, 2021

 

$

531,163

 

Acquisition initial value adjustment

 

 

(1,788

)

Foreign currency translation

 

 

(20,594

)

Balance at December 31, 2022

 

 

508,781

 

Foreign currency translation

 

 

8,403

 

Balance at December 31, 2023

 

$

517,184

 

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

 

 

 

 

 

 

 

 

As of December 31, 2023

 

 

 

Gross
carrying
amount

 

 

Weighted-
average life
(years)

 

 

Accumulated
amortization

 

 

Net
carrying
amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

34,942

 

 

 

3.47

 

 

$

(29,981

)

 

$

4,961

 

Tradenames

 

 

16,505

 

 

 

4.52

 

 

 

(10,315

)

 

 

6,190

 

Customer relationships

 

 

206,235

 

 

 

8.34

 

 

 

(87,122

)

 

 

119,113

 

Total intangible assets

 

$

257,682

 

 

 

 

 

$

(127,418

)

 

$

130,264

 

 

 

 

 

 

 

 

 

 

As of December 31, 2022

 

 

 

Gross
carrying
amount

 

 

Weighted-
average life
(years)

 

 

Accumulated
amortization

 

 

Net
carrying
amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

34,924

 

 

 

3.47

 

 

$

(21,217

)

 

$

13,707

 

Tradenames

 

 

16,513

 

 

 

4.55

 

 

 

(7,057

)

 

 

9,456

 

Customer relationships

 

 

204,697

 

 

 

8.34

 

 

 

(61,683

)

 

 

143,014

 

Total intangible assets

 

$

256,134

 

 

 

 

 

$

(89,957

)

 

$

166,177

 

Schedule of Expected Amortization of Intangible Assets

The expected amortization of the intangible assets, as of December 31, 2023, for each of the next five years and thereafter is as follows (in thousands):

2024

 

$

31,976

 

2025

 

 

26,274

 

2026

 

 

20,433

 

2027

 

 

16,083

 

2028

 

 

15,677

 

Thereafter

 

 

19,821

 

 

 

$

130,264