Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in business combinations. Goodwill is not subject to amortization but is tested for impairment annually during the fourth fiscal quarter, as well as whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company performed the required annual goodwill impairment test as of May 2, 2026 and concluded that goodwill was not impaired. As a result of the qualitative assessments, the Company determined that it was not necessary to perform a quantitative assessment at that time.

As of May 2, 2026, the net carrying amounts are as follows (in thousands, except for weighted-average remaining amortization period):


	May 2, 2026
	Gross Carrying Amounts		Accumulated Amortization		Foreign Currency Translation		Net Carrying Amounts		Weighted-Average Amortization Period (Years)
Developed technology	$	12,000	$	(400)	$	—	$	11,600	5
IPR&D	17,200		—		462		17,662		N/A
Total intangible assets	$	29,200	$	(400)	$	462	$	29,262

Amortization for acquired intangible assets was $0.4 million during the year ended May 2, 2026 and charged to research and development expenses.

The aggregate future amortization expense for acquired amortizable intangible assets as of May 2, 2026 are as follows (in thousands):