Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

8. Intangible Assets and Goodwill

Acquisition intangible assets, net

As of September 30, 2021 and December 31, 2020, intangible assets, net consisted of the following:


	September 30, 2021							December 31, 2020
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	23,672	$	(15,287	)	$	8,385	$	23,804	$	(12,448	)	$	11,356
Trade name		2,752		(1,601	)		1,151		2,824		(1,285	)		1,539
Developed technology		20,216		(16,510	)		3,706		20,881		(12,569	)		8,312
Acquisition intangible assets, net	$	46,640	$	(33,398	)	$	13,242	$	47,509	$	(26,302	)	$	21,207

Amortization expense was $2.5 million and $7.7 million during the three months and nine months ended September 30, 2021, respectively, and $3.1 million and $9.8 million during the three and nine months ended September 30, 2020, respectively.

Goodwill

The changes in the carrying amount of goodwill were as follows (in thousands):


Balance as of December 31, 2020	$	468,764
Foreign currency translation		(3,688	)
Balance as of September 30, 2021	$	465,076

Capitalized internal-use software

As of September 30, 2021 and December 31, 2020, capitalized internal-use software consisted of the following:


(in thousands)	September 30, 2021			December 31, 2020
Gross capitalized internal-use software	$	58,877		$	50,833
Less: Accumulated amortization		(30,308	)		(21,371	)
Capitalized internal-use software, net	$	28,569		$	29,462

Amortization expense related to capitalized internal-use software was $3.1 million and $8.9 million during the three months and nine months ended September 30, 2021, respectively, and $3.7 million and $10.9 million during the three and nine months ended September 30, 2020, respectively, and is included in cost of revenue in the condensed consolidated statements of operations.

Future amortization expense

As of September 30, 2021, future amortization expense by year is expected to be as follows:


(in thousands)	Capitalized internal-use software, net		Acquisition intangible assets, net
Remainder of 2021	$	2,960	$	2,433
2022		8,560		5,040
2023		3,180		1,914
2024		649		1,666
2025		—		1,389
Thereafter		—		800
Total amortization expense	$	15,349	$	13,242

Future capitalized internal-use software amortization excludes $13.2 million of costs which are currently in the development phase.