Markforged Holding Corporation Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Goodwill and Intangible Assets (Tables)

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets

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


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


		December 31, 2024									December 31, 2023
	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		$	(2,464	)	$	14,336		$	16,800	$	(970	)	$	15,830
Customer relationships	9 years		560			(140	)		420			560		(83	)		477
Trade names	1 year		90			(90	)		—			90		(90	)		—
Licenses	23 years		5,457			(59	)		5,398			—		—			—
Foreign currency translation			(640	)		203			(437	)		848		(27	)		821
Intangible Assets, net		$	22,267		$	(2,550	)	$	19,717		$	18,298	$	(1,170	)	$	17,128

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 years ended December 31, 2024 and 2023.


	Year Ended December 31,
	2024		2023
Cost of revenue	$	1,415	$	877
Operating expenses		93		147
Total	$	1,508	$	1,024

Summary of amortization expense for amortizable assets

The estimated future amortization expense for amortizable assets to be recognized is as follows as of December 31, 2024 (in thousands):


2025	$	2,171
2026		2,354
2027		2,110
2028		1,751
2029		1,400
Thereafter		9,931
Total	$	19,717