
	Advertising		Apps		Total
Balances as of December 31, 2024	$	1,457,685	$	345,741	$	1,803,426

Goodwill impairment	—		(188,943)		(188,943)
Foreign currency translation	25,313		—		25,313
Balances as of March 31, 2025	$	1,482,998	$	156,798	$	1,639,796

The Company evaluates goodwill for impairment at the reporting unit level on an annual basis, or more frequently if events or changes in circumstances indicate that goodwill may be impaired.

On February 12, 2025, the Company entered into a non-binding term sheet to sell its mobile gaming business to Tripledot, a privately held company. On May 7, 2025, the Company and certain of its subsidiaries entered into a definitive agreement with Tripledot and its affiliates to sell the Company’s mobile gaming business for total consideration consisting of $150.0 million in cash, a $250.0 million secured promissory note, and equity representing approximately 20% of Tripledot’s fully diluted equity capitalization at closing, subject to customary purchase price adjustments. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.

The Company identified the non-binding term sheet combined with negotiations throughout the first quarter of 2025 to sell the mobile gaming business as an indicator of impairment for the Apps reporting unit and performed an interim quantitative goodwill impairment test as of March 31, 2025. Based on this assessment, the Company determined that the carrying amount of the Apps reporting unit exceeded its estimated fair value and recorded a non-cash goodwill impairment charge of $188.9 million in its condensed consolidated statement of operations for the three months ended March 31, 2025.

At the time the interim impairment test was performed, the Company had not yet determined the fair value of the total consideration, which is subject to a valuation of the equity consideration at the closing of the transaction. As a result, the Company estimated the fair value of the Apps reporting unit using the discounted cash flow method of the income approach. Key valuation inputs included projected future cash flows, risk-adjusted discount rates and long-term growth rates, which are based on management’s estimates and assumptions believed to be reasonable and reflective of known market conditions as of the interim impairment test date. The resulting fair value measurement is classified as Level 3 within the fair value hierarchy due to the use of significant unobservable inputs.

Upon closing, the Company will recognize a gain or loss on the sale of the mobile gaming business based on the difference between the total fair value of the consideration received, including the equity consideration, and the carrying amount of the mobile gaming business’s net assets.


	Weighted- Average Remaining Useful Life (in years)	As of March 31, 2025						As of December 31, 2024
		Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value


Apps	3.3	$	1,848,037	$	(1,462,940)	$	385,097	$	1,828,036	$	(1,419,559)	$	408,477
Customer relationships	7.0	516,319		(175,328)		340,991		511,125		(160,810)		350,315
User base	1.0	68,817		(59,064)		9,753		68,817		(56,626)		12,191
License asset	2.8	60,707		(59,332)		1,375		60,707		(59,207)		1,500
Developed technology	2.4	206,604		(130,760)		75,844		204,286		(120,808)		83,478
Other	2.0	69,673		(27,687)		41,986		66,020		(25,304)		40,716
Total intangible assets		$	2,770,157	$	(1,915,111)	$	855,046	$	2,738,991	$	(1,842,314)	$	896,677