We operate our business in two operating segments that also represent our reporting units. Our reporting units are organized based on our technology and professional services.

During the three months ended March 31, 2026, we identified indicators of impairment, including overall declines in our stock price and market capitalization, and concluded that triggering events had occurred that required an interim quantitative goodwill impairment assessment of our technology reporting unit.

As part of our interim goodwill impairment assessment, the fair value of the technology reporting unit was estimated based upon weightings of the income approach and a market-based approach. The income approach utilizes a discounted cash flow analysis. The market-based approach utilizes comparable public company information, key valuation multiples, and considers a market control premium associated with cost synergies and other cash flow benefits that arise from obtaining control over a reporting unit, and guideline transactions, when applicable. The significant assumptions used in these approaches include revenue growth rates, profit margins, projected future cash flows, and discount rates under the income approach as well as valuation multiples derived from comparable public trading companies under the market-based approach.

Based on our interim impairment test of goodwill, it was determined that the fair value of our technology reporting unit was below the carrying value as of March 31, 2026, and we recorded total non-cash goodwill impairment charges of $95.5 million during the three months ended March 31, 2026. The goodwill impairment charge was recorded as part of the impairment of goodwill line item in our condensed consolidated statements of operations. There were no goodwill impairment charges during the three months ended March 31, 2025.


Technology reporting unit	Gross Goodwill		Accumulated Impairment Losses		Net Goodwill
	(unaudited)
Balance as of December 31, 2025	$	307,790	$	(98,717)	$	209,073
Impairment of goodwill	—		(95,501)		(95,501)
Foreign currency translation adjustments	(321)		—		(321)
Balance as of March 31, 2026	$	307,469	$	(194,218)	$	113,251

The professional services reporting unit had no net goodwill as of March 31, 2026 and December 31, 2025 due to the $6.7 million of gross goodwill being fully impaired prior to December 31, 2025.

The carrying values of goodwill and intangible assets attributable to the our U.K. operations are denominated in British pounds and are translated into U.S. dollars at the exchange rate in effect as of the balance sheet date. As a result, the reported balances of goodwill and intangible assets are subject to fluctuation due to changes in foreign currency exchange rates, with translation adjustments recorded in accumulated other comprehensive income.


	Cost		Accumulated Amortization		Net
	(unaudited)
Developed technologies	$	140,925	$	(114,508)	$	26,417
Client relationships and contracts	115,772		(76,302)		39,470
Computer software licenses	13,600		(11,798)		1,802
Trademarks	5,346		(3,703)		1,643
Total intangible assets	$	275,643	$	(206,311)	$	69,332

Amortization expense of acquired intangible assets was $8.1 million and $8.7 million for the three months ended March 31, 2026 and 2025, respectively. Amortization expense for intangible assets is included in depreciation and amortization in our condensed consolidated statements of operations. We did not incur any intangible asset impairment charges during the three months ended March 31, 2026 and 2025.


	Cost		Accumulated Amortization		Net
Developed technologies	$	141,101	$	(110,621)	$	30,480
Client relationships and contracts	115,808		(72,750)		43,058
Computer software licenses	13,600		(11,329)		2,271
Trademarks	5,367		(3,498)		1,869
Total intangible assets	$	275,876	$	(198,198)	$	77,678