when indicators of a potential impairment are present. As part of the Company’s business planning cycle, the Company performs an annual goodwill impairment test in the fourth quarter of the fiscal year. There were no indications of impairment of goodwill noted as of March 31, 2025. For the three months ended March 31, 2025, the Company recorded $252.1 million to goodwill related to the acquisition of MANTL. See Note 3 for further information. Goodwill has a carrying value of $400.2 million and $148.1 million as of March 31, 2025 and December 31, 2024, respectively.


	As of March 31, 2025
(in thousands)	Carrying Value		Accumulated Amortization		Net Carrying Value
Finite-lived:
Customer Relationships	$	92,800	$	(4,674)	$	88,126
Developed Technology	99,200		(14,724)		84,476
Tradenames	6,450		(276)		6,174
Total amortizable intangible assets	198,450		(19,674)		178,776
Website domain name (Indefinite-lived)	25		—		25
Total intangible assets	$	198,475	$	(19,674)	$	178,801


	As of December 31, 2024
(in thousands)	Carrying Value		Accumulated Amortization		Net Carrying Value
Finite-lived:
Customer Relationships	$	20,470	$	(4,185)	$	16,285
Developed Technology	27,700		(15,502)		12,198
Tradenames	750		(237)		513
Total amortizable intangible assets	48,920		(19,924)		28,996
Website domain name (Indefinite-lived)	25		—		25
Total intangible assets	$	48,945	$	(19,924)	$	29,021

Amortization expense recognized on intangible assets was $2.4 million and $1.7 million for the three months ended March 31, 2025 and 2024, respectively.

In March 2025, due to the acquisition of MANTL, the Company assessed all of the assets of MK Decisioning Systems, LLC for potential impairment and determined that $1.2 million of developed technology intangible assets, $0.1 million of customer relationship intangible assets, as well as $0.4 million of capitalized software development costs included in property and equipment, net would not have future economic benefit and the value of the intangibles were written off, resulting in a loss on impairment of $1.7 million. This non-cash charge was recorded to loss on impairment of intangible assets in the condensed consolidated statements of operations. No impairment was identified for goodwill or any other assets.

The following table shows the estimated annual amortization expense of the definite-lived intangible assets for the next five years and thereafter (in thousands):