Quarterly report [Sections 13 or 15(d)]

INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

v3.25.1
INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET
NOTE 10—INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET
Intangible Assets
The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset other than goodwill:
March 31, 2025 December 31, 2024
Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Amount		 Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Amount
Amortizable intangible assets:
Licenses $ 80,935  $ (36,275) $ 44,660  $ 80,101  $ (33,424) $ 46,677 
Acquired technology 16,653  (8,950) 7,703  16,653  (8,238) 8,415 
Customer relationships 12,000  (6,000) 6,000  12,000  (5,400) 6,600 
Trade names 2,740  (1,615) 1,125  2,740  (1,578) 1,162 
Internal-use software 191,741  (165,636) 26,105  188,164  (161,228) 26,936 
Other
 250  (18) 232  220  (14) 206 
304,319  (218,494) 85,825  299,878  (209,882) 89,996 
Nonamortizable intangible assets:
Marketing Agreement with a related party 1,000  —  1,000  1,000  —  1,000 
Total intangible assets $ 305,319  $ (218,494) $ 86,825  $ 300,878  $ (209,882) $ 90,996 
During the three months ended March 31, 2025 and 2024, intangible asset and internal-use software amortization was $8.6 million and $10.4 million, respectively. The aggregate amortization expense for amortizable intangible assets and internal-use software is reflected in “Depreciation and amortization” in the Condensed Consolidated Statements of Operations.
During the three months ended March 31, 2025 and 2024, there were no impairment charges for intangible assets or internal-use software.
As of March 31, 2025, the estimated annual amortization expense is as follows:
Projected Amortization
Expense
Remaining 2025
 $ 24,137 
2026 26,833 
2027 17,715 
2028 10,104 
2029 6,465 
Thereafter 571 
Total $ 85,825