v3.25.2
Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill
The Company's goodwill relates to the following segments:
(in thousands)June 30, 2025December 31, 2024
SMB Payments$124,139 $124,139 
Enterprise Payments251,118 244,712 
B2B Payments7,240 7,240 
Total$382,497 $376,091 
The following table summarizes the changes in the carrying value of goodwill:
(in thousands)Amount
Balance at December 31, 2024$376,091 
Letus business acquisition6,070 
Foreign currency translation adjustment336 
Balance at June 30, 2025
$382,497 
As of June 30, 2025, the Company is not aware of any triggering events for impairment that have occurred since the last annual impairment test.
Other Intangible Assets
Other intangible assets consisted of the following:
June 30, 2025Weighted-average
Useful Life
(in thousands, except weighted-average data)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Other intangible assets:
ISO and referral partner relationships$182,339 $(55,932)$126,407 14.6
Residual buyouts143,862 (111,247)32,615 6.2
Customer relationships110,658 (96,522)14,136 8.4
Merchant portfolios83,350 (67,036)16,314 6.5
Technology59,384 (30,007)29,377 8.5
Trade names7,611 (3,525)4,086 10.9
Non-compete agreements3,390 (3,390)— 0.0
Money transmission licenses(1)
2,100 — 2,100 
Total $592,694 $(367,659)$225,035 9.5
(1)These assets have an indefinite useful life.
December 31, 2024Weighted-average
Useful Life
(in thousands, except weighted-average data)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Other intangible assets:
ISO and referral partner relationships$182,339 $(49,501)$132,838 14.6
Residual buyouts143,862 (104,766)39,096 6.2
Customer relationships109,017 (95,320)13,697 8.4
Merchant portfolios83,350 (65,285)18,065 6.5
Technology58,639 (27,473)31,166 8.7
Trade names7,104 (3,192)3,912 10.6
Non-compete agreements3,390 (3,390)— 0.0
Money transmission licenses(1)
2,100 — 2,100 
Total $589,801 $(348,927)$240,874 9.5
(1)These assets have an indefinite useful life.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Amortization expense(1)
$10,018 $11,816 $19,933 $23,899 
(1)Included in amortization expense is $0.6 million and $1.2 million for the three and six months ended June 30, 2025, respectively, and $0.4 million and $0.8 million for the three and six months ended June 30, 2024, respectively, related to the amortization of certain contract acquisition costs.
As of June 30, 2025, there were no impairment indicators present.