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

INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

v3.26.1
INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET
 12 Months Ended
Dec. 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:
December 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 $ 83,820  $ (45,670) $ 38,150  $ 80,101  $ (33,424) $ 46,677 
Acquired technology 16,653  (11,088) 5,565  16,653  (8,238) 8,415 
Customer relationships 12,000  (7,800) 4,200  12,000  (5,400) 6,600 
Trade names 2,741  (1,728) 1,013  2,740  (1,578) 1,162 
Internal-use software 204,254  (178,101) 26,153  188,164  (161,228) 26,936 
Other 379  (30) 349  220  (14) 206 
319,847  (244,417) 75,430  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 $ 320,847  $ (244,417) $ 76,430  $ 300,878  $ (209,882) $ 90,996 
The aggregate amortization expenses for amortizable intangible assets are reflected in “Depreciation and amortization” in the Consolidated Statements of Operations. During the years ended December 31, 2025 and 2024, intangible asset and internal-use software amortization expenses were $34.5 million and $40.6 million, respectively.
The Company did not record a non-cash impairment charge during the year ended December 31, 2025. The Company recorded non-cash impairment charges of $9.2 million within "Restructuring and related" in the Consolidated Statement of Operations during the year ended December 31, 2024.
As of December 31, 2025, the estimated annual amortization expenses for the years ending December 31, 2026 through 2030 and thereafter is as follows:
Year Ending December 31, Projected Amortization
Expense
2026 $ 33,160 
2027 21,892 
2028 13,232 
2029 6,471 
2030 172 
Thereafter 503 
Total $ 75,430