Goodwill, Intangible Assets, net and Digital Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible Assets, net and Digital Assets

7. Goodwill, Intangible Assets, net and Digital Assets

Goodwill

Goodwill and intangible assets of $5.1 million and $9.8 million, respectively, were acquired in the Ergatta Acquisition and were recorded at fair value on the acquisition date. As of March 31, 2026, there was no goodwill impairment. Refer to Note 23. Acquisitions for more information.

Changes in goodwill for the three months ended March 31, 2026 are as follows:


(in thousands)	Goodwill
Balance as of December 31, 2025	$	15,545
Goodwill acquired		5,145
Foreign currency translation adjustments		(51	)
Balance as of March 31, 2026	$	20,639

Intangible Assets, Net

Identifiable intangible assets, net consist of the following:


	As of March 31,								As of December 31,
	2026								2025
(in thousands)	Cost		Accumulated Amortization				Net Book Value		Cost		Accumulated Amortization			Net Book Value
Internal-use software	$	6,415		$	(6,220	)	$	195	$	6,415	$	(6,171	)	$	244
Developed technology		4,987			(667	)		4,320		2,610		(535	)		2,075
Customer related		12,050			(1,228	)		10,822		5,479		(944	)		4,535
Trademark and trade name		1,996			(235	)		1,761		1,203		(194	)		1,009
Total identifiable intangible assets	$	25,448		$	(8,350	)	$	17,098	$	15,707	$	(7,844	)	$	7,863

Amortization expense amounted to $0.5 million for the three months ended March 31, 2026 and 2025. As of March 31, 2026 and December 31, 2025, there was no intangible asset impairment.

As of March 31, 2026, estimated annual amortization expense for each of the next five fiscal years is as follows:


Fiscal Years Ending December 31,
(in thousands)
2026 (remaining)		3,510
2027		4,532
2028		2,406
2029		1,715
2030		1,689
2031		1,158
Thereafter		2,088
Total	$	17,098