| Intangible Assets and Goodwill |
Intangible Assets and Goodwill Intangible Assets Our intangible assets consist of the following: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | | | | | | | | Definite-lived intangible assets | (in thousands) | | | | Intellectual property | $ | 11,750 | | | $ | 12,450 | | | | | Customer relationships | 47,547 | | | 47,547 | | | | | Capitalized internal-use software | 40,798 | | | 34,802 | | | | | Less: Accumulated amortization | 28,665 | | | 25,463 | | | | | Definite-lived intangible assets, net | 71,430 | | | 69,336 | | | | | | | | | | | Indefinite-lived intangible assets | | | | | | | Trademarks | 14,571 | | | 14,571 | | | | | Total intangible assets, net | $ | 86,001 | | | $ | 83,907 | | | |
Amortization expense is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | (in thousands) | | | Amortization expense | $ | 1,660 | | | $ | 1,669 | | | $ | 3,202 | | | $ | 3,744 | | | | |
The weighted-average amortization period for definite-lived intangible assets are as follows as of June 30, 2026: | | | | | | | (in years) | | Intellectual property | 17.6 | | Customer relationships | 9.4 | | Capitalized internal-use software | 7.3 | | Definite-lived intangible assets | 10.1 |
Total future amortization expense for finite-lived intangible assets was estimated as follows: | | | | | | | | | (in thousands) | | | | 2026 | $ | 3,453 | | | | | 2027 | 6,850 | | | | | 2028 | 6,285 | | | | | 2029 | 5,903 | | | | | 2030 | 4,975 | | | | | Thereafter | 25,466 | | | | | Total future amortization expense | 52,932 | | | | | Internal-use software projects in process | 18,498 | | | | | Total | $ | 71,430 | | | |
Goodwill The changes in the carrying amount of goodwill were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | | | | | | | | | | | | (in thousands) | | | Balance, beginning of period | $ | 81,892 | | | $ | 81,892 | | | | | | | | | | | | | | | Decreases due to acquisition adjustments | — | | | — | | | | | | | Balance, end of period | $ | 81,892 | | | $ | 81,892 | | | | | |
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