Markforged Holding Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets

The following tables summarizes the Company’s goodwill and intangible assets, all of which are related to the acquisitions of Teton Simulation Software in April 2022 and Digital Metal AB in August 2022 (in thousands):


(in thousands)	Goodwill
December 31, 2022	$	31,116
Foreign currency translation		(1,649	)
Goodwill impairment		(29,467	)
September 30, 2023	$	—


		September 30, 2023									December 31, 2022
	Estimated Useful Life	Gross Carrying Value			Accumulated Amortization			Net Book Value			Gross Carrying Value		Accumulated Amortization			Net Book Value
Acquired technology	7 - 20 years	$	16,800		$	(754	)	$	16,046		$	16,800	$	(97	)	$	16,703
Customer relationships	9 years		560			(67	)		493			560		(19	)		541
Trade names	1 year		90			(90	)		—			90		(27	)		63
Foreign currency translation			(378	)		21			(357	)		322		(3	)		319
Intangible Assets, net		$	17,072		$	(890	)	$	16,182		$	17,772	$	(146	)	$	17,626

Summary of amortization expense for amortizable assets

The estimated future amortization expense for amortizable assets to be recognized is as follows as of September 30, 2023 (in thousands):


2023 (remaining three months)	$	243
2024		1,448
2025		1,955
2026		2,142
2027		1,897
Thereafter		8,497
Total	$	16,182

Schedule of Amortization Expense to the Cost of Revenue and Operating Expense

The Company recognized the following amortization expense to cost of revenue and operating expense during the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of revenue	$	214	$	26	$	660	$	31
Operating expenses		35		11		120		11
Total	$	249	$	37	$	780	$	42