v3.26.1
Intangible Assets
3 Months Ended
Mar. 31, 2026
Intangible Assets  
Intangible Assets

4. Intangible Assets

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of March 31, 2026 were as follows (in thousands):

Weighted Average

Gross Carrying

Accumulated

  ​ ​ ​

Amortization Period

  ​ ​ ​

Amount

  ​ ​ ​

Amortization

  ​ ​ ​

Total

Acquired technology

 

11 years

 

$

15,993

$

(3,439)

$

12,554

Dry stack electrolyzer technology

10 years

11,351

(2,296)

9,055

Customer relationships, trade name, and other

14 years

 

7,363

(741)

6,622

$

34,707

$

(6,476)

$

28,231

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2025 were as follows (in thousands):

Weighted Average

Gross Carrying

Accumulated

  ​ ​ ​

Amortization Period

  ​ ​ ​

Amount

  ​ ​ ​

Amortization

  ​ ​ ​

Total

Acquired technology

 

11 years

$

15,997

$

(3,047)

$

12,950

Dry stack electrolyzer technology

10 years

11,352

(1,913)

9,439

Customer relationships, trade name, and other

 

14 years

 

7,446

(607)

 

6,839

$

34,795

$

(5,567)

$

29,228

The change in the gross carrying amount of the acquired technology and customer relationships, trade name and other during the three months ended March 31, 2026 was due to foreign currency translation.

Amortization expense for acquired identifiable intangible assets during the three months ended March 31, 2026 and 2025 was $0.9 million and $2.0 million, respectively.

The estimated amortization expense for subsequent years as of March 31, 2026 is as follows (in thousands):

Remainder of 2026

$

2,751

2027

3,668

2028

3,331

2029

3,217

2030

3,197

2031 and thereafter

12,067

Total

$

28,231