Goodwill and Intangible Assets, net (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets, net

Schedule of rollforward of goodwill

As of September 30, 2023, the carrying amount of goodwill was $9.9 million. The following is a roll forward of the Company’s goodwill balance (in thousands):

	Nine Months Ended
	September 30, 2023
Balances at beginning of period	$	10,050
Foreign currency impact		(122)
Balances at end of period	$	9,928

Schedule of intangible assets, net

Intangible assets, net consists of the following (in thousands):

	September 30, 2023
	Cost		Accumulated Amortization		Translation adjustments		Net Book Value
Customer Relationships	$	3,142	$	(476)	$	120	$	2,786
Developed Technology		4,967		(400)		187		4,754
Software		254		(88)		10		176
Trade Name		61		(37)		2		26
	$	8,424	$	(1,001)	$	319	$	7,742

	December 31, 2022
	Cost		Accumulated Amortization		Translation adjustments		Net Book Value
Customer Relationships	$	3,142	$	(163)	$	150	$	3,129
Developed Technology		4,967		(137)		243		5,073
Software		254		(30)		11		235
Trade Name		61		(13)		3		51
	$	8,424	$	(343)	$	407	$	8,488

Schedule of amortization expense for intangible assets

Amortization expense for intangible assets was recorded in the following expense categories of its condensed consolidated statements of operations (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Product cost of revenue	$	108	$	66	$	321	$	66
Selling, general and administrative expenses		113		69		337		69
	$	221	$	135	$	658	$	135

Schedule of future amortization expense of intangible assets

Estimated future amortization expense for the intangible assets as of September 30, 2023 are as following (in thousands):

2023 (three months)	$	221
2024		869
2025		851
2026		775
2027		773
Thereafter		4,253
	$	7,742