| Goodwill and Intangible Assets, Net |
6. GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
Goodwill as of March 31, 2022 and December 31, 2021 was as follows (in thousands):
|
Balance as of December 31, 2021
|
|
$
|
110,465
|
|
|
Purchase price adjustment in the period
|
|
|
96
|
|
|
Effect of exchange rate
|
|
|
(473
|
)
|
|
Balance as of March 31, 2022
|
|
$
|
110,088
|
|
Intangible assets, net
Intangible assets consisted of the following (in thousands):
|
|
|
As of March 31, 2022
|
|
|
As of December 31, 2021
|
|
|
|
|
Gross
|
|
|
Accumulated
Amortization
|
|
|
Net
|
|
|
Gross
|
|
|
Accumulated
Amortization
|
|
|
Net
|
|
|
Amortizable Intangible Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Developed technology
|
|
$
|
40,190
|
|
|
$
|
6,959
|
|
|
$
|
33,231
|
|
|
$
|
40,416
|
|
|
$
|
5,393
|
|
|
$
|
35,023
|
|
|
Customer relationships
|
|
|
86,555
|
|
|
|
10,956
|
|
|
|
75,599
|
|
|
|
86,792
|
|
|
|
8,597
|
|
|
|
78,195
|
|
|
Trade names
|
|
|
13,038
|
|
|
|
1,358
|
|
|
|
11,680
|
|
|
|
13,060
|
|
|
|
952
|
|
|
|
12,108
|
|
|
Patent
|
|
|
130
|
|
|
|
65
|
|
|
|
65
|
|
|
|
131
|
|
|
|
61
|
|
|
|
70
|
|
|
Total amortizable intangible assets
|
|
$
|
139,913
|
|
|
$
|
19,338
|
|
|
$
|
120,575
|
|
|
$
|
140,399
|
|
|
$
|
15,003
|
|
|
$
|
125,396
|
|
Amortization expense was $4.4 million and $403,000 for the three months ended March 31, 2022 and 2021, respectively.
Total estimated future amortization expense as of March 31, 2022 is as follows (in thousands):
|
|
|
As of
March 31, 2022
|
|
|
2022 (remaining nine months)
|
|
$
|
12,814
|
|
|
2023
|
|
|
16,717
|
|
|
2024
|
|
|
16,615
|
|
|
2025
|
|
|
16,542
|
|
|
2026
|
|
|
16,468
|
|
|
2027 and thereafter
|
|
|
41,419
|
|
|
Total
|
|
$
|
120,575
|
|
|