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GOODWILL AND INTANGIBLE ASSETS, NET (Tables)
3 Months Ended
Mar. 31, 2023
Components of Intangible Assets

The components of intangible assets consisted of the following as of March 31, 2023 and December 31, 2022:

 

March 31, 2023

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Finite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

Developed Technology

 

$

55,765

 

 

$

(11,519

)

 

$

44,246

 

Capitalized software

 

 

10,432

 

 

 

(5,586

)

 

 

4,846

 

Customer relationships

 

 

16,122

 

 

 

(2,240

)

 

 

13,882

 

Trademarks and tradenames

 

 

10,104

 

 

 

(1,163

)

 

 

8,941

 

Backlog

 

 

3,491

 

 

 

(2,241

)

 

 

1,250

 

Other

 

 

1,041

 

 

 

(311

)

 

 

730

 

Indefinite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

In-process Technology

 

 

2,600

 

 

 

 

 

 

2,600

 

Total

 

$

99,555

 

 

$

(23,060

)

 

$

76,495

 

 

 

December 31, 2022

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Finite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

Developed Technology

 

$

55,765

 

 

$

(9,809

)

 

$

45,956

 

Capitalized software

 

 

10,502

 

 

 

(5,023

)

 

 

5,479

 

Customer relationships

 

 

16,122

 

 

 

(1,866

)

 

 

14,256

 

Trademarks and tradenames

 

 

10,104

 

 

 

(947

)

 

 

9,157

 

Backlog

 

 

3,491

 

 

 

(1,866

)

 

 

1,625

 

Other

 

 

898

 

 

 

(279

)

 

 

619

 

Indefinite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

In-process Technology

 

 

2,600

 

 

 

 

 

 

2,600

 

Total

 

$

99,482

 

 

$

(19,790

)

 

$

79,692

 

 

Summary of Amortization expense

Amortization expense recorded in the condensed consolidated statements of operations and comprehensive loss during the three months ended March 31, 2023 and 2022, respectively consisted of the following:

 

Three Months Ended March 31,

 

 

2023

 

 

2022

 

Cost of revenues

 

$

1,782

 

 

$

610

 

Research and development

 

 

48

 

 

 

1,654

 

Selling, general and administrative

 

 

1,490

 

 

 

631

 

Total amortization expense

 

$

3,320

 

 

$

2,895

 

 

Schedule of Estimated Future Amortization Expense Related to Finite Intangible Assets

The following table outlines the estimated future amortization expense related to intangible assets held as of March 31, 2023:

2023 (for the remaining period)

 

$

9,644

 

2024

 

 

11,350

 

2025

 

 

9,335

 

2026

 

 

9,174

 

2027

 

 

8,207

 

Thereafter

 

 

26,185

 

Total

 

$

73,895