v3.25.1
Goodwill
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
Note 6. Goodwill

Goodwill activity consisted of the following for the three months ended March 31, 2025 (in thousands):
Balance at December 31, 2024
$863,152 
Effect of foreign currency exchange rate changes534 
Balance at March 31, 2025
$863,686 
Accumulated impairment losses at March 31, 2025
$(41,332)
Goodwill totaling $16.3 million relating to marketing technology solutions was reclassified to assets held for sale as of March 31, 2025. The marketing technology solutions goodwill amount was included in the determination of the impairment charge recorded during the three months ended March 31, 2025 to adjust the carrying amount of the disposal group’s assets to its estimated fair value less selling costs, which is included in accumulated impairment losses. Refer to Note 3. Discontinued Operations for additional information.
During the fourth quarter of 2024, in conjunction with our review of strategic alternatives for our marketing technology solutions, the Company evaluated the recoverability of our marketing technology reporting unit and determined that the estimated fair value was insufficient to recover the net carrying value of the reporting unit resulting in an impairment charge of approximately $28.1 million during the year ended December 31, 2024, which is included in accumulated impairment losses.
In connection with the definitive sale and purchase agreements to sell our fitness solutions, we tested the goodwill balance for impairment as of March 31, 2024 (see Note 4. Fitness Solutions Disposition). During the three months ended March 31, 2024, we recognized a $6.4 million goodwill impairment charge representing the allocated goodwill to Fitness Solutions, which is included in loss on held for sale and impairments on the unaudited condensed consolidated statements of operations and comprehensive loss.