Quarterly report [Sections 13 or 15(d)]

INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

v3.25.2
INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET
 6 Months Ended
Jun. 30, 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:
June 30, 2025 December 31, 2024
Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Amount		 Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Amount
Amortizable intangible assets:
Licenses $ 81,836  $ (39,247) $ 42,589  $ 80,101  $ (33,424) $ 46,677 
Acquired technology 16,653  (9,663) 6,990  16,653  (8,238) 8,415 
Customer relationships 12,000  (6,600) 5,400  12,000  (5,400) 6,600 
Trade names 2,740  (1,653) 1,087  2,740  (1,578) 1,162 
Internal-use software 195,909  (169,844) 26,065  188,164  (161,228) 26,936 
Other
 261  (21) 240  220  (14) 206 
309,399  (227,028) 82,371  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 $ 310,399  $ (227,028) $ 83,371  $ 300,878  $ (209,882) $ 90,996 
During the three months ended June 30, 2025 and 2024, intangible asset and internal-use software amortization was $8.5 million and $10.4 million, respectively. During the six months ended June 30, 2025 and 2024, intangible asset and internal-use software amortization was $17.2 million and $20.8 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 and six months ended June 30, 2025 and 2024, there were no impairment charges for intangible assets or internal-use software.
As of June 30, 2025, the estimated annual amortization expense is as follows:
Projected Amortization
Expense
Remaining 2025
 $ 16,356 
2026 28,794 
2027 19,105 
2028 11,070 
2029 6,465 
Thereafter 581 
Total $ 82,371