Goodwill and Intangible Assets, net (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets, net

Schedule of rollforward of goodwill

As of June 30, 2024, the carrying amount of goodwill was $40.2 million. The following is a roll forward of the Company’s goodwill balance (in thousands):

	Six Months Ended June 30,
	2024		2023
Balances at beginning of period	$	10,367	$	10,050
Goodwill acquired		30,160		—
Foreign currency impact		(307)		135
Balances at end of period	$	40,220	$	10,185

Schedule of intangible assets, net

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

	June 30, 2024
	Cost		Accumulated Amortization		Translation adjustments		Net Book Value
Customer Relationships	$	5,642	$	(841)	$	160	$	4,961
Developed Technology		43,047		(1,087)		254		42,214
Software		254		(147)		15		122
Trade Name		61		(58)		(2)		1
	$	49,004	$	(2,133)	$	427	$	47,298

	December 31, 2023
	Cost		Accumulated Amortization		Translation adjustments		Net Book Value
Customer Relationships	$	3,142	$	(580)	$	240	$	2,802
Developed Technology		4,967		(487)		395		4,875
Software		254		(108)		18		164
Trade Name		61		(45)		3		19
	$	8,424	$	(1,220)	$	656	$	7,860

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Product cost of revenue	$	530	$	107	$	637	$	213
Selling, general and administrative expenses		163		112		276		224
	$	693	$	219	$	913	$	437

Schedule of future amortization expense of intangible assets

Estimated future amortization expense for the intangible assets as of June 30, 2024 are as following (in thousands):

2024	$	1,853
2025		3,700
2026		3,628
2027		3,623
2028		3,623
Thereafter		30,871
	$	47,298