Goodwill recorded in connection with the Company’s acquisitions is primarily attributable to the assembled workforce and anticipated operational synergies. Goodwill was $54,119 and $53,110 as of September 30, 2025 and December 31, 2024, respectively. There were no additions to, or impairments of, goodwill during the three and nine months ended September 30, 2025 and 2024.

The gross carrying amounts and accumulated amortization of the Company’s finite-lived intangible assets as of September 30, 2025 and December 31, 2024 were as follows:


	September 30, 2025
	(As Restated)
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	44,425	$	(39,701)	$	4,724
Customer relationships	99,196		(61,583)		37,613
Trademarks and trade names	2,300		(1,788)		512
Total finite-lived intangible assets	$	145,921	$	(103,072)	$	42,849


	December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	44,100	$	(33,561)	$	10,539
Customer relationships	99,000		(50,866)		48,134
Trademarks and trade names	2,300		(1,473)		827
Total finite-lived intangible assets	$	145,400	$	(85,900)	$	59,500

Amortization expense related to developed technology, customer relationships, and trademarks and trade names is recorded in depreciation and amortization within the Company’s consolidated statements of operations. Amortization expense of finite-lived intangible assets was $5,488 and $6,025 for the three months ended September 30, 2025 and 2024, respectively, and $17,314 and $18,006 for the nine months ended September 30, 2025 and 2024, respectively.

On May 31, 2025, the Company performed its annual goodwill impairment assessment. The Company determined that an indicator of impairment was present driven by a sustained decrease in the Company's stock price, and as a result, the Company performed a quantitative goodwill impairment assessment as of May 31, 2025 using the enterprise approach, which estimates fair value based on the overall value of the business, including debt, and determined that goodwill was not impaired, as the estimated fair value of the Company’s single reporting unit exceeded its carrying value.

As of June 30, 2025 the Company performed an updated analysis using a market approach, which estimates fair value based on the Company’s market capitalization and an estimate of a reasonable range of values of a control premium. The Company determined that goodwill was not impaired, as the estimated fair value of the Company’s reporting unit exceeded its carrying value. Additionally, as of May 31, 2025 and June 30, 2025, the Company performed a quantitative analysis of the recoverability of each of the Company’s asset groups. The result of the analyses was that the assets were not impaired, as the expected undiscounted cash flows exceeded the carrying value for each asset group.