v3.25.1
Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

Goodwill was $28,772 as of March 31, 2025 and December 31, 2024. There was no impairment of goodwill recorded during the three months ended March 31, 2025 and 2024.

Identifiable intangible assets consisted of the following as of March 31, 2025:

 

 

 

Original

 

 

Accumulated

 

 

Net Book

 

 

 

Cost

 

 

Amortization

 

 

Value

 

Developed technology

 

$

32,620

 

 

$

(27,212

)

 

$

5,408

 

Customer relationships

 

 

10,690

 

 

 

(4,855

)

 

 

5,835

 

Patent

 

 

7,623

 

 

 

(7,623

)

 

 

 

Independent sales agency network

 

 

4,500

 

 

 

(4,500

)

 

 

 

Trade names and trademarks

 

 

2,080

 

 

 

(1,766

)

 

 

314

 

Non-compete agreements

 

 

1,010

 

 

 

(941

)

 

 

69

 

Total

 

$

58,523

 

 

$

(46,897

)

 

$

11,626

 

 

Identifiable intangible assets consisted of the following as of December 31, 2024:

 

 

 

Original

 

 

Accumulated

 

 

Net Book

 

 

 

Cost

 

 

Amortization

 

 

Value

 

Developed technology

 

$

32,620

 

 

$

(26,708

)

 

$

5,912

 

Customer relationship

 

 

10,690

 

 

 

(4,588

)

 

 

6,102

 

Patent

 

 

7,623

 

 

 

(7,623

)

 

 

 

Independent sales agency network

 

 

4,500

 

 

 

(4,500

)

 

 

 

Trade names and trademarks

 

 

2,080

 

 

 

(1,733

)

 

 

347

 

Non-compete agreements

 

 

1,010

 

 

 

(903

)

 

 

107

 

Total

 

$

58,523

 

 

$

(46,055

)

 

$

12,468

 

 

Amortization of intangible assets, calculated on a straight-line basis or using an accelerated method, which reflects the pattern in which the economic benefits of the intangible assets are consumed, was $842 and $901 for the three months ended March 31, 2025 and 2024, respectively. The weighted average remaining useful lives for developed technology, trade names and trademarks, customer relationship, and non-compete agreements are 3.3 years, 3.3 years, 5.5 years, and 0.5 years, respectively, as of March 31, 2025.