v3.26.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Amount of the Company's Goodwill

The following table provides the carrying amount of the Company's goodwill:

 

Activity

 

Balance as of December 31, 2024

 

$

—

 

Addition related to the acquisition of Desktop Metal

 

 

139,400

 

Impairment of Desktop Metal goodwill

 

 

(139,400

)

Addition related to the acquisition of Markforged

 

 

40,388

 

Balance as of December 31, 2025

 

$

40,388

 
Schedule of Intangible Assets

The following table displays intangible assets, net by major class:

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Technology

 

$

13,636

 

 

$

(1,519

)

 

$

12,117

 

 

$

2,235

 

 

$

(80

)

 

$

2,155

 

Mutual licensing under
settlement agreement

 

 

5,320

 

 

 

(156

)

 

 

5,164

 

 

 

—

 

 

 

—

 

 

 

—

 

Trademark

 

 

1,811

 

 

 

(1,207

)

 

 

604

 

 

 

—

 

 

 

—

 

 

 

—

 

Customer relationships

 

 

1,660

 

 

 

(111

)

 

 

1,549

 

 

 

—

 

 

 

—

 

 

 

—

 

Intangible assets

 

$

22,427

 

 

$

(2,993

)

 

$

19,434

 

 

$

2,235

 

 

$

(80

)

 

$

2,155

 
Schedule of Amortization Expense

The Company recognized amortization expense of intangible assets as follows, including $0.3 million of amortization related to legacy technology prior to impairment on December 31, 2025:

 

 

December 31,

 

 

2025

 

 

2024

 

 

2023

 

Cost of revenue

 

$

1,837

 

 

$

80

 

 

$

—

 

Operating expenses

 

 

1,318

 

 

 

—

 

 

 

—

 

Total

 

$

3,155

 

 

$

80

 

 

$

—

 
Schedule of Amortization Expense for Intangible Assets

As of December 31, 2025, estimated amortization expense for intangible assets for each of the next five fiscal years and thereafter is expected to be as follows:

 

Fiscal Year

 

December 31, 2025

 

2026

 

$

3,276

 

2027

 

 

2,673

 

2028

 

 

2,673

 

2029

 

 

2,673

 

2030

 

 

2,673

 

Thereafter

 

 

5,466

 

Total intangible assets, net

 

$

19,434