Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 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		219,345
Foreign currency translation		(1,533	)
Balance at June 30, 2021	$	405,223

There were no impairments recorded against goodwill during the six months ended June 30, 2021 and for the year ended December 31, 2020.

Intangible assets consisted of the following (in thousands):

				As of June 30, 2021
	Gross carrying amount		Weighted average life (years)	Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	42,581	3.40	$	(9,754	)	$	32,827
Tradenames		25,722	4.04		(9,404	)		16,318
Customer relationships		198,999	8.20		(31,421	)		167,578
Total intangible assets	$	267,302		$	(50,579	)	$	216,723

					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 $10.0 million and $4.8 million for the three months ended June 30, 2021 and 2020, respectively. Amortization expense for intangible assets was $17.9 million and $8.9 million for the six months ended June 30, 2021 and 2020, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $5.6 million and $1.7 million for the six months ended June 30, 2021 and 2020, respectively. During the six months ended June 30, 2021, the Company retired $1.1 million of fully amortized intangible assets.

The expected amortization of the intangible assets, as of June 30, 2021, for each of the next five years and thereafter is as follows (in thousands):


2021 (for the remaining six months)	$	22,166
2022		41,275
2023		36,270
2024		31,509
2025		23,664
Thereafter		61,839
	$	216,723