The changes in the carrying value of goodwill including the effect of measurement period adjustments for the three months ended March 31, 2026 and 2025, were as follows (in thousands):


Balance as of December 31, 2025	$	122,277
Measurement period adjustment	—
Balance as of March 31, 2026	$	122,277


Balance as of December 31, 2024	$	101,704
Measurement period adjustment	(494)
Balance as of March 31, 2025	$	101,210

The Company has applied the acquisition method of accounting in accordance with ASC 805 and recognized assets acquired and liabilities assumed from the acquired entities at their fair value as of the date of acquisition, with the excess purchase consideration recorded to goodwill. As the Company finalizes the estimation of the fair value of the assets acquired and liabilities assumed, additional adjustments to the amount of goodwill may be necessary.

The gross carrying value, accumulated amortization and net carrying value of intangible assets consisted of the following (in thousands):


		March 31, 2026
	Useful life (in years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology	3.0 - 7.0	$	117,640	$	29,518	$	88,122
Customer relationships	3.0 - 7.0	101,060		22,553		78,507
Tradename	2.0 - 5.0	9,270		3,992		5,278
Conversation data	2.5	1,285		1,156		129
Total		$	229,255	$	57,219	$	172,036


		December 31, 2025
	Useful life (in years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology	3.0 - 7.0	$	117,640	$	24,871	$	92,769
Customer relationships	3.0 - 7.0	101,060		18,422		82,638
Tradename	2.0 - 5.0	9,270		3,538		5,732
Conversation data	2.5	1,285		1,029		256
Total		$	229,255	$	47,860	$	181,395

Amortization expense of intangible assets was $9.4 million and $7.5 million for the three months ended March 31, 2026 and 2025, respectively. This expense was recorded as $4.6 million and $4.0 million within cost of revenues for the three months ended March 31, 2026 and 2025, respectively.

Future amortization expense of intangible assets held as of March 31, 2026, is as follows (in thousands):


Year ending December 31,
2026	$	28,157
2027	34,930
2028	33,138
2029	32,501
Thereafter	43,310
Total	172,036