Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

5. Goodwill and Intangible Assets

The following is a summary of changes to the goodwill carrying value from December 31, 2025 to June 30, 2026:


(in thousands)
Goodwill at December 31, 2025	$	516,002
Foreign exchange impact		(4,417)
Goodwill at June 30, 2026	$	511,585

The following table summarizes the Company’s intangible assets and related accumulated amortization:


(in thousands)	June 30, 2026								December 31, 2025
	Gross Carrying			Accumulated			Net Carrying		Gross Carrying			Accumulated			Net Carrying
	Amount			Amortization			Amount		Amount			Amortization			Amount
Trademarks and brands	$	11,736		$	(7,090)		$	4,646	$	11,737		$	(6,718)		$	5,019
Customer relationships		168,590			(99,619)			68,971		169,275			(92,323)			76,952
Developed technology		104,918			(90,663)			14,255		105,687			(86,042)			19,645
Total intangible assets	$	285,244		$	(197,372)		$	87,872	$	286,699		$	(185,083)		$	101,616

Amortization expense related to intangible assets for the three months ended June 30, 2026 and June 30, 2025 was $6.5 million and $8.1 million, respectively. Amortization expense related to intangible assets for the six months ended June 30, 2026 and June 30, 2025 was $13.1 million and $15.3 million, respectively.

Estimated future expected amortization expense of intangible assets as of June 30, 2026 is as follows:


(in thousands)
2026 (for remaining six months)	$	12,757
2027		21,762
2028		18,457
2029		13,902
2030		7,185
Thereafter		13,809
Total	$	87,872

The weighted-average remaining useful life by major asset classes as of June 30, 2026 is as follows:


		(In years)
Trademarks and brands		6
Customer relationships		5
Developed technology		1

There were no impairments of Goodwill or Intangible assets identified during the six months ended June 30, 2026 or June 30, 2025.