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

6. Goodwill and Intangible Assets

 

As of June 30, 2025 and December 31, 2024, the Company had recorded goodwill of $13.5 million. No goodwill impairment was recognized for the six months ended June 30, 2025 and 2024.

 

Amortization of the intangible assets that have finite useful lives is generally recorded on a straight-line basis over their useful lives, with remaining useful lives ranging from 6.3 to 12.9 years. A summary of the Company’s identifiable intangible assets as of June 30, 2025 and December 31, 2024 is as follows (in thousands):

 

 

June 30, 2025

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Intangibles, net

 

Patent rights

$

32,630

 

 

$

18,858

 

 

$

13,772

 

Acquired technology

 

22,940

 

 

 

9,881

 

 

 

13,059

 

Acquired licenses

 

5,711

 

 

 

1,099

 

 

 

4,612

 

Assembled workforce

 

500

 

 

 

500

 

 

 

 

Total intangible assets

$

61,781

 

 

$

30,338

 

 

$

31,443

 

 

 

December 31, 2024

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Intangibles, net

 

Patent rights

$

32,630

 

 

$

17,770

 

 

$

14,860

 

Acquired technology

 

21,940

 

 

 

9,143

 

 

 

12,797

 

Acquired licenses

 

5,711

 

 

 

915

 

 

 

4,796

 

Assembled workforce

 

500

 

 

 

500

 

 

 

 

Total intangible assets

$

60,781

 

 

$

28,328

 

 

$

32,453

 

 

As of June 30, 2025, the weighted average remaining life for identifiable intangible assets was 7.8 years. Aggregate amortization expense was $1.0 million and $2.0 million for each of the three and six months ended June 30, 2025 and 2024. Patent rights, acquired technology and acquired licenses are amortized over a 15-year period.

Estimated future amortization expense related to intangible assets as of June 30, 2025 is as follows (in thousands):

 

 

Amount

 

2025 (Remainder of 2025)

$

2,041

 

2026

 

4,083

 

2027

 

4,083

 

2028

 

4,083

 

2029

 

4,083

 

Thereafter

 

13,070

 

Total

$

31,443