v3.25.2
Intangible Assets, Net
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

Note 6 Intangible Assets, Net

The Company’s intangible assets, net consisted of the following (in thousands):

 

 

 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Weighted Average Useful Lives

 

Gross Carrying Value

 

 

Accumulated Amortization

 

 

Net Book Value

 

 

Gross Carrying Value

 

Accumulated Amortization

 

Net Book Value

 

Internally developed software

 

3.0 Years

 

$

30,602

 

 

$

(16,718

)

 

$

13,884

 

 

$

27,501

 

$

(13,917

)

$

13,584

 

Domain name

 

15.0 Years

 

 

121

 

 

 

(67

)

 

 

54

 

 

 

121

 

 

(63

)

 

58

 

Intangible assets, net

 

 

 

$

30,723

 

 

$

(16,785

)

 

$

13,938

 

 

$

27,622

 

$

(13,980

)

$

13,642

 

The future estimated amortization expenses as of June 30, 2025, were as follows (in thousands):

 

2025

 

 

 

 

3,116

 

2026

 

 

 

 

5,632

 

2027

 

 

 

 

3,366

 

Thereafter

 

 

 

 

1,824

 

Total future amortization

 

 

 

$

13,938

 

 

 

Amortization expense for the three and six months ended June 30, 2025 was $1.4 million and $2.8 million, respectively. Amortization expense for the three and six months ended June 30, 2024 was $1.6 million and $3.1 million, respectively. No significant impairment charges were recognized related to long-lived assets for the three and six months ended June 30, 2025 and 2024.

The Company did not incur any amortization expense related to any changes in useful life of its definite-lived intangible assets for the three months ended June 30, 2025 and 2024.