v3.26.1
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of goodwill for the six months ended June 30, 2026 were as follows (in thousands):
Connected DevicesSoftware and
Services
Total
Balance, beginning of period$51,249 $1,318,940 $1,370,189 
Goodwill acquired4,581 524,733 529,314 
Purchase accounting adjustments— 63 63 
Foreign currency translation adjustments(114)(625)(739)
Balance, end of period$55,716 $1,843,111 $1,898,827 
Intangible assets (other than goodwill) consisted of the following at June 30, 2026 and December 31, 2025 (in thousands):
June 30, 2026December 31, 2025
Useful
Life
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Amortizable (definite-lived) intangible assets:
Developed technology
3 ‑ 8 years
$262,122 $(63,653)$198,469 $183,122 $(44,399)$138,723 
Customer relationships
5 ‑ 10 years
68,231 (12,748)55,483 41,329 (8,960)32,369 
Issued trademarks
3 ‑ 23 years
11,986 (5,377)6,609 9,900 (3,856)6,044 
Issued patents
8 ‑ 26 years
3,002 (1,641)1,361 3,017 (1,602)1,415 
Domain names
5 ‑ 10 years
4,568 (2,968)1,600 3,043 (2,738)305 
Total amortizable349,909 (86,387)263,522 240,411 (61,555)178,856 
Non-amortizable (indefinite-lived) intangible assets:
In-process research and development (1)
16,600 — 16,600 16,600 — 16,600 
Trademarks1,068 — 1,068 1,068 — 1,068 
Patents and trademarks pending393 — 393 448 — 448 
Total non-amortizable18,061 — 18,061 18,116 — 18,116 
 Total intangible assets$367,970 $(86,387)$281,583 $258,527 $(61,555)$196,972 
(1)During the six months ended June 30, 2026, no in-process research and development costs were placed into service. During the six months ended June 30, 2025, approximately $15.3 million has been placed into service.
Amortization expense of intangible assets for the three and six months ended June 30, 2026 was $13.4 million and $24.9 million, respectively. Amortization expense of intangible assets for the three and six months ended June 30, 2025 was $6.7 million and $13.3 million, respectively. Estimated amortization for intangible assets with definite lives for the remaining six months of 2026, the next five years ended December 31, and thereafter, is as follows (in thousands):
2026 remaining$26,872 
202752,521 
202850,289 
202947,336 
203035,726 
203118,341 
Thereafter32,437 
Total$263,522