Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired less liabilities assumed arising from business combinations. The Company believes the goodwill represents the synergies expected from expanded market opportunities when integrating with its offerings.

The change in the carrying amount of goodwill during the six months ended June 30, 2026 is related to the AllTrue.ai and SlashNext acquisitions. For additional information regarding the acquisitions, see Note 4, "Business Combinations."

The following table reflects goodwill activity for the six months ended June 30, 2026 (in thousands):


	Amount (unaudited)
Balance at December 31, 2025	$	135,276
Goodwill acquired	79,806
Balance at June 30, 2026	$	215,082

The total cost and amortization of the Company's intangible assets for the period ended June 30, 2026 is comprised of the following (in thousands):


	June 30, 2026
	(unaudited)
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	57,571	$	(5,292)	$	52,279
Customer relationship	4,136		(432)		3,704
Non-compete	40		(17)		23
Total	$	61,747	$	(5,741)	$	56,006

Intangible assets are expensed on a straight-line basis over the useful life of the asset. The Company recorded amortization expense of $2,876 and $4,688 for the three and six months ended June 30, 2026, respectively, and $170 and $196 for the three and six months ended June 30, 2025, respectively.

The following table summarizes estimated future amortization expense of the Company's intangible assets as of June 30, 2026 (in thousands):


	Amount
Years ending December 31,	(unaudited)
2026	$	5,616
2027	11,231
2028	10,890
2029	10,850
2030	10,850
Thereafter	6,569
Total future amortization expense	$	56,006