Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

(7) Goodwill and Intangible Assets, Net

The following table displays the changes in the gross carrying amount of goodwill (in thousands):


Balance at December 31, 2019	$	91,421
Foreign currency translation		94
Increase due to acquisitions		92,033
Balance at September 30, 2020	$	183,548

There were no impairments recorded against goodwill during the nine months ended September 30, 2020 and for the year ended December 31, 2019.

Intangible assets consisted of the following (in thousands):

				As of September 30, 2020
	Gross carrying amount		Weighted average life (years)	Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	14,395	3.00	$	(4,140	)	$	10,255
Tradenames		15,136	3.52		(5,496	)		9,640
Customer relationships		97,013	7.40		(17,985	)		79,028
Total intangible assets	$	126,544		$	(27,621	)	$	98,923

					As of December 31, 2019
	Gross carrying amount		Weighted average life (years)		Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	9,485		3.00	$	(4,232	)	$	5,253
Tradenames		11,437		3.50		(2,724	)		8,713
Customer relationships		63,667		6.84		(10,533	)		53,134
Total intangible assets	$	84,589			$	(17,489	)	$	67,100

Amortization expense for intangible assets was $5.4 million and $3.1 million for the three months ended September 30, 2020 and 2019, respectively. Amortization expense for intangible assets was $14.3 million and $6.4 million for the nine months ended September 30, 2020 and 2019, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $1.1 million and $0.6 million for the three months ended September 30, 2020 and 2019, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $2.8 million and $1.3 million for the nine months ended September 30, 2020 and 2019, respectively. During the nine months ended September 30, 2020, the Company retired $4.0 million of fully amortized intangible assets.

The expected amortization of the intangible assets, as of September 30, 2020, for each of the next five years and thereafter is as follows (in thousands):


2020 (for the remaining three months)	$	5,681
2021		22,478
2022		19,255
2023		14,274
2024		12,670
Thereafter		24,565
	$	98,923