Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.10.0.1
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets

During the nine months ended September 30, 2018, we completed the acquisition of AdsWizz. The changes in the carrying amount of goodwill for the nine months ended September 30, 2018, are as follows:

 
9/30/2018
 
(in thousands)
Balance as of December 31, 2017
$
71,243

Goodwill related to acquisition of AdsWizz
107,674

Balance as of September 30, 2018
$
178,917




The following summarizes information regarding the gross carrying amounts and accumulated amortization of intangible assets:
 
 
As of December 31, 2017
 
As of September 30, 2018
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Value
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Value
 
 
(in thousands)
 
(in thousands)
Finite-lived intangible assets
 
 
 
 
 
 
 
 
 
 
 
 
Patents
 
$
8,030

 
$
(3,289
)
 
$
4,741

 
$
8,030

 
$
(3,839
)
 
$
4,191

Developed technology
 
27,950

 
(13,608
)
 
14,342

 
59,950

 
(20,160
)
 
39,790

Customer relationships
 
940

 
(940
)
 
—

 
12,940

 
(1,988
)
 
10,952

Trade names
 
1,320

 
(994
)
 
326

 
1,920

 
(1,296
)
 
624

Total finite-lived intangible assets
 
$
38,240

 
$
(18,831
)
 
$
19,409

 
$
82,840

 
$
(27,283
)
 
$
55,557

Note: Amounts may not recalculate due to rounding

Amortization expense of intangible assets was $1.9 million and $4.3 million for the three months ended September 30, 2017 and 2018. Amortization expense of intangible assets was $11.2 million and $8.5 million for the nine months ended September 30, 2017 and 2018.

The following is a schedule of future amortization expense related to finite-lived intangible assets as of September 30, 2018.

 
As of 
 September 30, 
 2018
 
(in thousands)
Remainder of 2018
$
4,299

2019
16,696

2020
16,401

2021
11,877

2022
5,193

Thereafter
1,091

Total future amortization expense
$
55,557