v3.26.1
Intangible Assets, Net
6 Months Ended
Jun. 30, 2026
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]  
Intangible Assets, Net

7. INTANGIBLE ASSETS, NET

Intangible assets, net is composed of the following (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

2026

 

 

2025

 

Developed technology

 

$

699,594

 

 

$

657,690

 

Naming rights

 

 

62,844

 

 

 

48,084

 

Customer relationships

 

 

53,018

 

 

 

43,087

 

Internal-use software

 

 

33,469

 

 

 

28,340

 

Trademark

 

 

22,917

 

 

 

19,577

 

In-process research and development

 

 

18,800

 

 

 

18,800

 

Non-compete agreements

 

 

8,664

 

 

 

8,839

 

Patents

 

 

7,343

 

 

 

7,345

 

Website and other

 

 

377

 

 

 

377

 

Gross intangible assets

 

 

907,026

 

 

 

832,139

 

Less: accumulated amortization

 

 

(128,152

)

 

 

(64,707

)

Total intangible assets, net

 

$

778,874

 

 

$

767,432

 

 

Amortization expense for the three months ended June 30, 2026 and 2025, was $32.7 million and $5.4 million, respectively. Amortization expense for the six months ended June 30, 2026 and 2025 was $64.5 million and $7.6 million, respectively.