Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table summarizes the changes in the carrying amount of goodwill:


(in thousands)
Balance as of December 31, 2025	$	162,158
Foreign currency translation adjustments	(1,988)
Balance as of March 31, 2026	$	160,170

No goodwill impairment was recorded during the three months ended March 31, 2026 and 2025.

Intangible Assets, Net

The following table summarizes intangible assets:


	March 31, 2026						December 31, 2025
(in thousands)	Gross carrying amount		Accumulated Amortization		Net carrying amount		Gross carrying amount		Accumulated Amortization		Net carrying amount
Definite-lived technology intangible assets	$	233,086	$	(79,725)	$	153,361	$	236,497	$	(69,156)	$	167,341
Definite-lived licensed intangible assets	13,072		(7,908)		5,164		11,158		(6,619)		4,539
Indefinite-lived intangible assets	135,548		—		135,548		138,023		—		138,023
Total intangible assets	$	381,706	$	(87,633)	$	294,073	$	385,678	$	(75,775)	$	309,903

Amortization expense was $12.7 million and $11.7 million during the three months ended March 31, 2026 and 2025, respectively. Amortization expense was included in “Research and Development” in the Condensed Consolidated Statements of Operations. Intangible assets, net decreased by $5.2 million during the three months ended March 31, 2026 due to foreign currency translation adjustments.

No indefinite-lived intangible asset impairment charges were recorded during the three months ended March 31, 2026 and 2025.