The following table sets forth the carrying amount and activity of goodwill as of March 31, 2026:


	Amount
Balance as of the beginning of the period	$	292,644
Effect of exchange rate on goodwill		(2,965	)
Balance as of the end of the period	$	289,679

During the three months ended March 31, 2026, the change in goodwill was primarily related to a $2,965 decrease in value due to the effect of exchange rates on goodwill.

The Company tests its goodwill for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value of goodwill may be impaired. As of October 1, 2025, the Company’s most recent impairment test date, the fair values of the Company’s reporting units substantially exceeded their respective carrying values. Additionally, there were no indicators of impairment noted during the three months ended March 31, 2026.