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)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets

This impairment was driven by the decline in the Company’s actual and forecasted operating results, as well as a decline in market capitalization.


		March 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		$	(1,324	)	$	15,476		$	16,800	$	(970	)	$	15,830
Customer relationships	9 years		560			(99	)		461			560		(83	)		477
Trade names	1 year		90			(90	)		—			90		(90	)		—
Foreign currency translation			(14	)		1			(13	)		848		(27	)		821
Intangible Assets, net		$	17,436		$	(1,512	)	$	15,924		$	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 three months ended March 31, 2024 and 2023:


	Three Months Ended March 31,
	2024		2023
Cost of revenue	$	357	$	228
Operating expenses		21		49
Total	$	378	$	277

Summary of amortization expense for amortizable assets

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


2024	$	1,103
2025		1,989
2026		2,184
2027		1,938
2028		1,571
Thereafter		7,139
Total	$	15,924