v3.25.1
Intangible Assets, Net
3 Months Ended
Mar. 31, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets, Net

3. Intangible assets, net

Intangible assets other than goodwill consist of the following:

 

 

 

 

 

March 31, 2025

 

 

December 31, 2024

 

(In thousands)

 

Amortization
period

 

Gross amount

 

 

Accumulated amortization

 

 

Net

 

 

Gross amount

 

 

Accumulated amortization

 

 

Net

 

Software developed for internal use

 

5-10 years

 

$

77,075

 

 

$

(40,864

)

 

$

36,211

 

 

$

74,409

 

 

$

(38,412

)

 

$

35,997

 

Acquired intangible assets

 

10 years

 

 

1,325

 

 

 

(48

)

 

 

1,277

 

 

 

-

 

 

 

-

 

 

 

-

 

Total

 

 

 

$

78,400

 

 

$

(40,912

)

 

$

37,488

 

 

$

74,409

 

 

$

(38,412

)

 

$

35,997

 

The gross carrying amount of software developed for internal use includes capitalized costs related to the design, development, and testing of internal-use software. These costs primarily consist of eligible personnel-related expenses, share-based compensation, travel expenses, and other directly attributable costs incurred during the application development stage. The gross carrying amount of acquired intangible assets reflects the acquisition cost of certain data assets for which the Company has obtained perpetual usage rights.

Amortization expenses of $2,500 and $2,214 for the three months ended March 31, 2025 and 2024, respectively, were included in depreciation and amortization expense. As of March 31, 2025, intangible assets of $6,692, included in the gross carrying amounts of software developed for internal use, have not started amortization, as they are not ready for their intended use.

The Company capitalized costs of intangible assets of $3,991 and $2,773 during the three months ended March 31, 2025 and 2024, respectively.

As of March 31, 2025, estimated amortization expense related to the Company’s intangible assets for the remainder of 2025 through 2030 and thereafter are as follows:

 

(In thousands)

 

 

 

Year

 

March 31, 2025

 

Remainder of 2025

 

 

7,748

 

2026

 

 

9,571

 

2027

 

 

7,955

 

2028

 

 

5,523

 

2029

 

 

3,560

 

2030 and thereafter

 

 

3,131

 

Total

 

$

37,488