Intangible Assets

6 Months Ended

Jun. 30, 2026

Intangible Assets Disclosure [Abstract]

NOTE 6: INTANGIBLE ASSETS

Intangible assets consist of the following:


	As of June 30, 2026
	Gross Carrying Amount		Accumulated Amortization			Net Balance		Weighted-Average Amortization Period Remaining
	(in thousands)							(in years)
Customer relationships	$	1,466,963	$	(582,727	)	$	884,236		11.5
OEM authorizations and licenses		500,620		(205,736	)		294,884		8.0
Trademarks		204,000		(98,591	)		105,409		8.1
Technology and other		9,127		(6,279	)		2,848		4.8
Total intangible assets	$	2,180,710	$	(893,333	)	$	1,287,377		10.4

The additions to OEM authorizations and licenses for the period ended June 30, 2026, are largely attributable to a $180.0 million license fee with one of our OEM partners. The liability incurred, but not paid, was recorded to Accrued expenses and other current liabilities as of June 30, 2026.


	As of December 31, 2025
	Gross Carrying Amount		Accumulated Amortization			Net Balance		Weighted-Average Amortization Period Remaining
	(in thousands)							(in years)
Customer relationships	$	1,461,276	$	(540,844	)	$	920,432		12.0
OEM authorizations and licenses		334,297		(204,823	)		129,474		12.4
Trademarks		204,000		(91,847	)		112,153		8.3
Technology and other		9,127		(5,877	)		3,250		5.0
Total intangible assets	$	2,008,700	$	(843,391	)	$	1,165,309		11.6

The Company’s amortization expense was $32.6 million and $64.9 million for the three and six months ended June 30, 2026, respectively. The Company’s amortization expense was $32.7 million and $65.0 million for the three and six months ended June 30, 2025, respectively. Amortization of OEM authorizations and licenses is included within cost of revenue and the remainder is presented separately in the consolidated statement of operations.

Estimated amortization expense for each of the five succeeding fiscal years is as follows:


	Amortization Expense
	(in thousands)
2026 (excluding the six months ended June 30, 2026)	$	74,816
2027		147,958
2028		146,391
2029		142,815
2030		141,758
2031 and Thereafter		633,639

There were no impairment charges recorded for intangible assets for the three and six months ended June 30, 2026, or 2025.