Intangible Assets, Net |
6. Intangible Assets, Net Acquired intangible assets consist of developed technology, customer relationships and trademarks and are amortized on a straight-line basis over their estimated useful lives. The following tables summarize acquired intangible assets as of the periods presented below:
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Gross Amount | | Accumulated Amortization | | Net Carrying Value | | Weighted Average Remaining Useful Life | | (amounts in thousands) | | (in years) | Developed technology | $ | 41,196 | | | $ | (15,958) | | | $ | 25,238 | | | 4.9 | Customer relationships | 69,200 | | | (10,620) | | | 58,580 | | | 6.9 | Trademarks | 700 | | | (700) | | | — | | | 0.0 | Total | $ | 111,096 | | | $ | (27,278) | | | $ | 83,818 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Gross Amount | | Accumulated Amortization | | Net Carrying Value | | Weighted Average Remaining Useful Life | | (amounts in thousands) | | (in years) | Developed technology | $ | 41,196 | | | $ | (13,423) | | | $ | 27,773 | | | 5.4 | Customer relationships | 69,200 | | | (6,433) | | | 62,767 | | | 7.4 | Trademarks | 700 | | | (400) | | | 300 | | | 0.4 | Total | $ | 111,096 | | | $ | (20,256) | | | $ | 90,840 | | | |
Amortization of acquired intangible assets is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | | | | | | | | Cost of revenue | $ | 1,275 | | | $ | 350 | | | $ | 2,536 | | | $ | 350 | | | | | | | | | | Sales and marketing | 2,233 | | | 626 | | | 4,486 | | | 626 | | | | | | | | | | | | | | | | | | Total amortization expense | $ | 3,508 | | | $ | 976 | | | $ | 7,022 | | | $ | 976 | |
As of June 30, 2025, expected future amortization expense related to acquired intangible assets is as follows (in thousands): | | | | | | | | | Year Ending December 31, | | Amortization Expense | Remainder of 2025 | | $ | 6,833 | | 2026 | | 13,553 | | 2027 | | 13,553 | | 2028 | | 13,590 | | 2029 | | 13,553 | | Thereafter | | 22,736 | | Total future amortization | | $ | 83,818 | |
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