Quarterly report [Sections 13 or 15(d)]

INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

v3.26.1
INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET
NOTE 9—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, 2026 December 31, 2025
Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Amount		 Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Amount
Amortizable intangible assets:
Licenses $ 83,820  $ (49,104) $ 34,716  $ 83,820  $ (45,670) $ 38,150 
Acquired technology 16,653  (11,801) 4,852  16,653  (11,088) 5,565 
Customer relationships 12,000  (8,400) 3,600  12,000  (7,800) 4,200 
Trade names 2,740  (1,765) 975  2,741  (1,728) 1,013 
Internal-use software 208,396  (182,286) 26,110  204,254  (178,101) 26,153 
Other
 425  (35) 390  379  (30) 349 
324,034  (253,391) 70,643  319,847  (244,417) 75,430 
Nonamortizable intangible assets:
Marketing Agreement with a related party 1,000  —  1,000  1,000  —  1,000 
Total intangible assets $ 325,034  $ (253,391) $ 71,643  $ 320,847  $ (244,417) $ 76,430 
During the three months ended March 31, 2026 and 2025, intangible asset and internal-use software amortization was $9.0 million and $8.6 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, 2026 and 2025, there were no impairment charges for intangible assets or internal-use software.
As of March 31, 2026, the estimated annual amortization expense is as follows:
Projected Amortization
Expense
Remaining 2026
 $ 25,337 
2027 23,275 
2028 14,615 
2029 6,705 
2030 174 
Thereafter 537 
Total $ 70,643