Goodwill

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The following table sets forth the carrying amount and activity of goodwill as of September 30, 2024:


	Amount
Balance as of Balance as of the beginning of the period	$	295,096
Acquisitions (Note 2)	766

Measurement period adjustment for business combinations from prior year	(17,032)
Effect of exchange rate on goodwill	(3,413)
Balance as of Balance as of the end of the period	$	275,417

The change in goodwill is primarily driven by a $766 increase during the nine months ended September 30, 2024 due to the acquisition of Kinetic that was completed during the period, a $17,032 decrease related to the completion of the purchase price allocation for Exalos, as well as a $3,413 decrease in value due to the effect of exchange rate on goodwill. See Note 2 — Business Combinations for a detailed discussion of goodwill acquired for Kinetic, as well as the decrease in goodwill in relation to the finalization of the purchase price allocation for Exalos.

The Company tests its goodwill for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value of goodwill may be impaired. There were no indicators of impairment noted during the nine months ended September 30, 2024.