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INTANGIBLE ASSETS AND GOODWILL
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL INTANGIBLE ASSETS AND GOODWILL
Intangible assets
During the nine months ended September 30, 2024, the Company completed the acquisition of Intelliwave, which was accounted for as a business combination, as described above in Note 6. During that period, the Company also acquired another developed technology for $3.9 million, which was accounted for as an asset acquisition. The acquired developed technology has an estimated useful life of four years, and the amortization expense is recorded in cost of revenue on the accompanying condensed consolidated statements of operations and comprehensive loss.
The Company’s finite-lived and indefinite-lived intangible assets are summarized as follows (in thousands):
September 30, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life (Years)
Developed technology$186,183 $(87,868)$98,315 4.1
Customer relationships71,050 (40,459)30,591 4.8
Total finite-lived intangible assets
257,233 (128,327)128,906 4.3
In-process research and development2,848 — 2,848 
Total intangible assets$260,081 $(128,327)$131,754 
December 31, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life (Years)
Developed technology$166,453 $(67,221)$99,232 4.3
Customer relationships66,350 (30,884)35,466 4.2
Total finite-lived intangible assets
232,803 (98,105)134,698 4.3
In-process research and development2,848 — 2,848 
Total intangible assets$235,651 $(98,105)$137,546 
The Company estimates that there is no significant residual value related to its finite-lived intangible assets. Amortization expense recorded on the Company’s finite-lived intangible assets is summarized as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cost of revenue$6,698 $5,506 $18,739 $16,492 
Sales and marketing3,224 3,106 9,475 9,319 
Research and development668 678 2,008 2,087 
Total amortization of acquired intangible assets$10,590 $9,290 $30,222 $27,898 
Goodwill
The following table presents the changes in carrying amount of goodwill during the nine months ended September 30, 2024 (in thousands):
Beginning balance$539,354 
Additions11,333 
Other adjustments, net(1)
(466)
Ending balance$550,221 
(1) Includes measurement period adjustments for Intelliwave and the effect of foreign currency translation.

The addition to goodwill was due to the acquisition of Intelliwave, as disclosed in Note 6 to these condensed consolidated financial statements. There was no impairment of goodwill during the periods presented.