v3.25.2
Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of 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 
Schedule of 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.