v3.26.1
Intangible Assets, Net
3 Months Ended
Mar. 31, 2026
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets, Net

3. Intangible assets, net

Intangible assets other than goodwill consist of the following:

 

 

 

 

 

March 31, 2026

 

 

December 31, 2025

 

(In thousands)

 

Amortization
period

 

Gross amount

 

 

Accumulated amortization

 

 

Net

 

 

Gross amount

 

 

Accumulated amortization

 

 

Net

 

Software developed for internal use

 

5-10 years

 

$

89,469

 

 

$

(51,413

)

 

$

38,056

 

 

$

85,843

 

 

$

(48,704

)

 

$

37,139

 

Acquired intangible assets

 

10 years

 

 

2,317

 

 

 

(194

)

 

 

2,123

 

 

 

2,282

 

 

 

(157

)

 

 

2,125

 

Total

 

 

 

$

91,786

 

 

$

(51,607

)

 

$

40,179

 

 

$

88,125

 

 

$

(48,861

)

 

$

39,264

 

The gross carrying amount of software developed for internal use includes capitalized costs related to the design, development, and testing of internal-use software. These costs primarily consist of eligible personnel-related expenses, share-based compensation, and travel expenses incurred by relevant employees, and other directly attributable costs incurred during the application development stage. The gross carrying amount of acquired intangible assets reflects the acquisition cost of certain data assets for which the Company has obtained perpetual usage rights.

Amortization expenses of $2,746 and $2,500 were included in depreciation and amortization expense for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, intangible assets of $7,211, included in the gross carrying amounts of intangible assets, have not yet commenced amortization, as they are not ready for their intended use.

The Company capitalized costs of intangible assets of $3,661 and $3,991 during the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, estimated amortization expense related to the Company’s intangible assets for the remainder of 2026 through 2031 and thereafter is as follows:

 

(In thousands)

 

 

 

Year

 

March 31, 2026

 

Remainder of 2026

 

$

8,307

 

2027

 

 

10,177

 

2028

 

 

7,744

 

2029

 

 

5,781

 

2030

 

 

3,738

 

2031 and thereafter

 

 

4,432

 

Total

 

$

40,179