| Intangible Assets, Net |
Intangible Assets, Net Intangible assets, net consisted of the following (amounts in thousands):
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March 31, 2024 |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Net Carrying
Value |
| Trade names |
$ |
7,956 |
|
|
$ |
(2,257) |
|
|
$ |
5,699 |
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| Software development |
14,693 |
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|
(6,195) |
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|
8,498 |
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| Customer relationships |
8,180 |
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|
(3,455) |
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|
4,725 |
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| Agent relationships |
6,016 |
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|
(2,034) |
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|
3,982 |
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| Know-how |
430 |
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|
(254) |
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|
176 |
|
|
$ |
37,275 |
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|
$ |
(14,195) |
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|
$ |
23,080 |
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December 31, 2023 |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Net Carrying
Value |
| Trade names |
$ |
7,956 |
|
|
$ |
(2,058) |
|
|
$ |
5,898 |
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| Software development |
14,159 |
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|
(5,517) |
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|
8,642 |
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| Customer relationships |
8,180 |
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(3,199) |
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|
4,981 |
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| Agent relationships |
6,016 |
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(1,825) |
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|
4,191 |
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| Know-how |
430 |
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(233) |
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|
197 |
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$ |
36,741 |
|
|
$ |
(12,832) |
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|
$ |
23,909 |
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Estimated future amortization of intangible assets as of March 31, 2024 was as follows (amounts in thousands):
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| Years Ending December 31, |
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| 2024 (remaining) |
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$ |
4,159 |
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| 2025 |
|
5,301 |
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| 2026 |
|
4,665 |
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| 2027 |
|
3,665 |
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| 2028 |
|
2,525 |
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| Thereafter |
|
2,765 |
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| Total |
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$ |
23,080 |
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The aggregate amortization expense for intangible assets was $1.4 million and $1.2 million, of which $0.8 million and $0.7 million was included in technology and development expense, for the three months ended March 31, 2024 and 2023, respectively.
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