Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the three months ended March 31, 2025 were as follows (in thousands):


	Connected Devices		Software and Services		Total
Balance, beginning of period (1)	$	46,674	$	710,164	$	756,838
Purchase accounting adjustments	(160)		(2,535)		(2,695)
Foreign currency translation adjustments	119		1,620		1,739
Balance, end of period	$	46,633	$	709,249	$	755,882

(1)Due to the Segment Realignment, the beginning goodwill balances have been recast to conform to the new segment presentation. Refer to Note 1 for additional details.

Intangible assets (other than goodwill) consisted of the following at March 31, 2025 and December 31, 2024 (in thousands):


		March 31, 2025						December 31, 2024
	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable (definite-lived) intangible assets:
Developed technology	3 ‑ 8 years	$	133,572	$	(26,299)	$	107,273	$	118,322	$	(21,337)	$	96,985
Customer relationships	5 ‑ 10 years	33,482		(5,728)		27,754		33,223		(4,716)		28,507
Issued trademarks	3 ‑ 23 years	6,706		(2,265)		4,441		6,706		(1,784)		4,922
Issued patents	8 ‑ 26 years	2,963		(1,478)		1,485		2,931		(1,470)		1,461
Domain names	5 ‑ 10 years	3,043		(2,510)		533		3,043		(2,433)		610
Total amortizable		179,766		(38,280)		141,486		164,225		(31,740)		132,485
Non-amortizable (indefinite-lived) intangible assets:
In-process research and development(1)		25,750		—		25,750		41,000		—		41,000
Trademarks		1,068		—		1,068		1,068		—		1,068
Patents and trademarks pending		530		—		530		604		—		604
Total non-amortizable		27,348		—		27,348		42,672		—		42,672
Total intangible assets		$	207,114	$	(38,280)	$	168,834	$	206,897	$	(31,740)	$	175,157

(1) Consists of in-process research and development costs pertaining to the acquisition of Dedrone. During the three months ended March 31, 2025, approximately $15.3 million has been placed into service.

Amortization expense of intangible assets for the three months ended March 31, 2025 and March 31, 2024 was $6.6 million and $3.0 million, respectively. Estimated amortization for intangible assets with definite lives for the remaining nine months of 2025, the next five years ended December 31, and thereafter, is as follows (in thousands):


2025 remaining	$	20,116
2026	26,744
2027	25,512
2028	24,526
2029	22,291
2030	13,302
Thereafter	8,995
Total	$	141,486