v3.26.1
INTANGIBLE ASSETS, NET
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
INTANGIBLE ASSETS, NET
8. INTANGIBLE ASSETS, NET
Intangible assets, net consisted of the following (in thousands):
As of June 30,
2026		As of December 31,
2025
Developed technology$216,700 $— 
Trademarks450 — 
Acquired software528 1,335 
Internally developed software1,361 907 
Other intangible assets46 46 
Total intangible assets219,085 2,288 
Less: Accumulated amortization(7,269)(1,373)
Total intangible assets, net$211,816 $915 
Intangible assets are amortized on a straight-line basis over estimated useful lives ranging from 2.0 to 15.0 years, depending on the asset class, as described in Note 2 - Basis of Presentation and Summary of Significant Accounting Policies. Amortization expense for the three months ended June 30, 2026 and 2025 was $3.7 million and $0.04 million, respectively. Amortization expense for the six months ended June 30, 2026 and 2025 was $6.7 million and $0.1 million, respectively.

Future Amortization
As of June 30, 2026, estimated future amortization expense is as follows (in thousands):

Amounts
2026 (remaining)$7,524 
202714,919 
202814,608 
202914,465 
203014,447 
Thereafter145,196