Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2021

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, 2020	$	187,411
Increase due to acquisition		49,308
Foreign currency translation		(1,940	)
Balance at March 31, 2021	$	234,779

There were no impairments recorded against goodwill during the three months ended March 31, 2021 and for the year ended December 31, 2020.

Intangible assets consisted of the following (in thousands):

				As of March 31, 2021
	Gross carrying amount		Weighted average life (years)	Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	35,258	3.49	$	(7,879	)	$	27,379
Tradenames		17,501	3.59		(7,873	)		9,628
Customer relationships		119,837	7.67		(25,970	)		93,867
Total intangible assets	$	172,596		$	(41,722	)	$	130,874

					As of December 31, 2020
	Gross carrying amount		Weighted average life (years)		Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	31,851		3.54	$	(5,322	)	$	26,529
Tradenames		15,360		3.52		(6,638	)		8,722
Customer relationships		100,590		7.41		(22,079	)		78,511
Total intangible assets	$	147,801			$	(34,039	)	$	113,762

Amortization expense for intangible assets was $7.9 million and $4.1 million for the three months ended March 31, 2021 and 2020, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $2.6 million and $0.7 million for the three months ended March 31, 2021 and 2020, respectively.

The expected amortization of the intangible assets, as of March 31, 2021, for each of the next five years and thereafter is as follows (in thousands):


2021 (for the remaining nine months)	$	23,319
2022		28,024
2023		23,021
2024		20,143
2025		13,202
Thereafter		23,165
	$	130,874