v3.26.1
Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets

Note 5. Intangible Assets

The following table summarizes the gross carrying amounts and accumulated amortization of the Company’s intangible assets by major class:

 

 

June 30, 2026

 

 

December 31, 2025

 

 

Weighted Average

 

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net
Carrying Amount

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net
Carrying Amount

 

 

Remaining Useful Life (Years) June 30, 2026

 

Customer relationships

 

$

66,554

 

 

$

(38,272

)

 

$

28,282

 

 

$

66,570

 

 

$

(35,899

)

 

$

30,671

 

 

 

6.5

 

Developed technology

 

 

21,724

 

 

 

(19,030

)

 

 

2,694

 

 

 

21,738

 

 

 

(18,738

)

 

 

3,000

 

 

 

4.6

 

Databases

 

 

29,142

 

 

 

(16,100

)

 

 

13,042

 

 

 

29,145

 

 

 

(15,068

)

 

 

14,077

 

 

 

6.4

 

Tradenames

 

 

9,325

 

 

 

(5,409

)

 

 

3,916

 

 

 

9,325

 

 

 

(5,090

)

 

 

4,235

 

 

 

6.1

 

Patents

 

 

857

 

 

 

(258

)

 

 

599

 

 

 

871

 

 

 

(248

)

 

 

623

 

 

 

17.0

 

Content library

 

 

592

 

 

 

(271

)

 

 

321

 

 

 

592

 

 

 

(242

)

 

 

350

 

 

 

5.4

 

Total

 

$

128,194

 

 

$

(79,340

)

 

$

48,854

 

 

$

128,241

 

 

$

(75,285

)

 

$

52,956

 

 

 

 

Finite-lived intangible assets are stated at cost, net of amortization, generally using the straight-line method over the expected useful lives of the intangible assets. Amortization of intangible assets, excluding developed technology, was $1,889 and $1,934 for the three months ended June 30, 2026 and 2025, respectively, and $3,782 and $4,265 for the six months ended June 30, 2026 and 2025, respectively.

Amortization of developed technology was recorded as part of cost of revenues, including amortization in the amount of $152 and $160 for the three months ended June 30, 2026 and 2025, respectively, and $305 and $366 for the six months ended June 30, 2026 and 2025, respectively.

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

2026 (remainder)

 

$

4,093

 

2027

 

 

8,186

 

2028

 

 

7,965

 

2029

 

 

7,696

 

2030

 

 

7,226

 

Thereafter

 

 

13,688

 

Total

 

$

48,854

 

Capitalized software development costs

Capitalized software development costs are as follows:

 

 

June 30, 2026

 

 

December 31, 2025

 

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net
Carrying Amount

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net
Carrying Amount

 

Capitalized software development costs

 

$

41,516

 

 

$

(28,644

)

 

$

12,872

 

 

$

38,284

 

 

$

(25,699

)

 

$

12,585

 

During the six months ended June 30, 2026 and 2025, the Company capitalized interest on capitalized software development costs in the amount of $196 and $85, respectively. Amortization of capitalized software development costs was recorded as part of cost of revenues, including amortization in the amount of $1,509 and $1,619 for the three months ended June 30, 2026 and 2025, respectively, and $2,945 and $4,945 for the six months ended June 30, 2026 and 2025, respectively. The estimated useful life is determined at the time each project is placed in service.

Impairment of long-lived assets

We periodically assess whether any indicators of impairment existed related to our intangible assets. We identified triggering events during the first and second quarters of 2026, as discussed in Note 6, "Goodwill". These triggering events indicated we should test the related long-lived assets for impairment in certain of our asset groups. We tested each applicable asset group by first performing a recoverability test, comparing projected undiscounted cash flows from the use and eventual disposition of each asset group to its carrying value. This test indicated that the undiscounted cash flows were sufficient to recover the carrying value of certain asset groups. As a result, we concluded that no impairment charge was to be recorded for long-lived assets during the first and second quarters of 2026.