During the year ended December 31, 2025, the Company determined that the fair value of its indefinite-lived trade names and definite-lived amortizable intangible assets no longer exceeded their carrying values. As a result, the Company recorded intangible asset impairment charges of $232.0 million for the twelve months ended December 31, 2025, to write down the carrying values of the indefinite-lived trade names and definite-lived amortizable intangible assets to zero. There was no impairment of assets for the twelve months ended December 31, 2024. For the twelve months ended December 31, 2023, the Company recorded an indefinite-lived trade names impairment charge of $10.0 million.

The gross carrying amounts, accumulated amortization and net carrying amounts of the Company’s definite-lived amortizable intangible assets, as well as its indefinite-lived intangible trade names, are as follows:



	Dec. 31, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount
Developed technology	$	496,000	$	428,686	$	67,314	$	—
Customer relationships	232,000		140,360		91,640		—
Total intangible assets subject to amortization	$	728,000	$	569,046	$	158,954	$	—
Indefinite-lived trade names							—
Total intangible assets							$	—



	Dec. 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	496,000	$	375,543	$	120,457
Customer relationships	232,000		122,960		109,040
Total intangible assets subject to amortization	$	728,000	$	498,503	$	229,497
Indefinite-lived trade names					73,000
Total intangible assets					$	302,497