In February 2025 the Company acquired certain assets of a privately held company in a transaction that qualified as a business combination under ASC 805, Business Combinations, for approximately $4.0 million. The acquisition resulted in an increase in goodwill of $2.5 million, which was related to expected synergies of the acquired workforce, and developed technology and other intangible assets of $1.6 million. The business combination was not material to the condensed consolidated financial statements.

The useful lives of developed technology generally is between three to eight years and trade names generally is over ten years. Amortization expense for the three months ended June 30, 2025 and June 30, 2024 was $0.2 million and $0.1 million, respectively, and for the six months ended June 30, 2025 and June 30, 2024 was $0.4 million and $0.2 million, respectively.