5. Goodwill and intangible assets

Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired.

Goodwill amounts are not amortized but tested for impairment on an annual basis or more often when circumstances indicate that goodwill may not be recoverable. There was no impairment of goodwill for the three and six months ended June 30, 2025 and 2024.

Finite-lived intangible assets are amortized on a straight-line basis over the useful life. During the three months ended March 31, 2025, the Company acquired a website domain name for $2.4 million. Intangible assets amortization was $2.5 million for the three months ended June 30, 2025 and 2024, and was $4.9 million for the six months ended June 30, 2025 and 2024. There was no impairment of intangible assets for the three and six months ended June 30, 2025 and 2024.