Goodwill and Intangible Assets, net

6 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets, net

Goodwill and Intangible Assets, net

7. Goodwill and Intangible Assets, net

Goodwill

As of June 30, 2026, the carrying amount of goodwill was $11.1 million. The following is a roll forward of the Company’s goodwill balance (in thousands):


		Six Months Ended June 30,
		2026
Balances at beginning of period		$	—
Goodwill acquired			11,428
Foreign currency impact			(373)
Balances at end of period		$	11,055

The Company evaluates goodwill at least annually on November 1, as well as whenever events or changes in circumstances suggest that the carrying amount may not be recoverable.

Intangible Assets, net

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


		June 30, 2026
		Cost			Accumulated Amortization			Translation adjustments			Net Book Value
Customer Relationships		$	4,022		$	(775)		$	(26)		$	3,221
Developed Technology			46,979			(5,599)			(291)			41,089
Trade Name			910			(77)			(28)			805
		$	51,911		$	(6,451)		$	(345)		$	45,115


		December 31, 2025
		Cost			Accumulated Amortization			Net Book Value
Customer Relationships		$	3,122		$	(559)		$	2,563
Developed Technology			38,080			(4,231)			33,849
		$	41,202		$	(4,790)		$	36,412

Amortization expense for intangible assets was recorded in the following expense categories of its condensed consolidated statements of operations (in thousands):


		Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025
Cost of revenue		$	734		$	634		$	1,369		$	1,269
Selling, general and administrative expenses			194			79			292			157
		$	928		$	713		$	1,661		$	1,426

Estimated future amortization expense for the intangible assets as of June 30, 2026 are as following (in thousands):


Remainder of 2026		$	2,631
2027			3,626
2028			3,626
2029			3,626
2030			3,626
Thereafter			27,980
		$	45,115