| Intangible Assets, Net |
| 5. |
Intangible Assets, Net |
Intangible
assets, net, consist primarily of intangible assets acquired through business combinations. During the six months ended June 30, 2026,
the Company also capitalized $1.3 million related to a manufacturing license agreement that provides rights to intellectual property,
technical data, and know-how used to manufacture and commercialize products. The agreement is recorded as a definite-lived intangible
asset and is amortized on a straight-line basis over its five-year contractual term.
The
following table presents the details of intangible assets, net, as of the dates indicated:
Schedule
of Intangible Assets, Net
| | |
| | |
| | |
| | |
| |
| | |
| |
| | |
As of June 30, 2026 | |
| (In thousands) | |
Weighted Average Remaining Life (Years) | | |
Gross | | |
Accumulated
Amortization | | |
Carrying Value | |
| | |
| | |
| | |
| | |
| |
| Developed technology - definite lived | |
| 8.5 | | |
$ | 99,984 | | |
$ | 37,032 | | |
$ | 62,952 | |
| Developed technology - indefinite lived | |
| N/A | | |
| 66 | | |
| - | | |
| 66 | |
| Tradenames - definite lived | |
| 2.8 | | |
| 1,923 | | |
| 1,278 | | |
| 645 | |
| Tradenames - indefinite lived | |
| N/A | | |
| 8,738 | | |
| - | | |
| 8,738 | |
| Customer relationships | |
| 2.8 | | |
| 20,261 | | |
| 14,631 | | |
| 5,630 | |
| Patents | |
| 6.0 | | |
| 585 | | |
| 370 | | |
| 215 | |
| Manufacturing license agreement | |
| 4.7 | | |
| 1,250 | | |
| 83 | | |
| 1,167 | |
| Intangible assets net | |
| | | |
$ | 132,807 | | |
$ | 53,394 | | |
$ | 79,413 | |
| | |
As of December 31, 2025 | |
| (In thousands) | |
Weighted Average
Remaining Life (Years) | | |
Gross | | |
Accumulated
Amortization | | |
Carrying Value | |
| | |
| | |
| | |
| | |
| |
| Developed technology – definite lived | |
| 8.9 | | |
$ | 100,179 | | |
$ | 33,136 | | |
$ | 67,043 | |
| Developed technology – indefinite lived | |
| N/A | | |
| 66 | | |
| - | | |
| 66 | |
| Tradenames - definite lived | |
| 3.3 | | |
| 1,933 | | |
| 1,153 | | |
| 780 | |
| Tradenames - indefinite lived | |
| N/A | | |
| 8,738 | | |
| - | | |
| 8,738 | |
| Customer relationships | |
| 3.3 | | |
| 20,339 | | |
| 13,717 | | |
| 6,622 | |
| Patents | |
| 6.3 | | |
| 585 | | |
| 347 | | |
| 238 | |
| Intangible assets net | |
| | | |
$ | 131,840 | | |
$ | 48,353 | | |
$ | 83,487 | |
Amortization
expense is reported within the following line items in the condensed consolidated statements of operations line items for the periods
indicated:
Schedule
of Amortization Expense
| (In thousands) | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three months ended
June 30, | | |
Six months ended
June 30, | |
| (In thousands) | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Cost of revenue | |
$ | 86 | | |
$ | 107 | | |
$ | 173 | | |
$ | 213 | |
| Research and development | |
| 1,905 | | |
| 1,905 | | |
| 3,815 | | |
| 3,798 | |
| Sales and marketing | |
| 497 | | |
| 504 | | |
| 993 | | |
| 1,205 | |
| General and administrative | |
| 130 | | |
| 89 | | |
| 240 | | |
| 176 | |
| Amortization expense | |
$ | 2,618 | | |
$ | 2,605 | | |
$ | 5,221 | | |
$ | 5,392 | |
The
following table presents the total estimated future amortization expense as of the date indicated:
Schedule
of Estimated Future Amortization Expense
| (In thousands) | |
June 30, 2026 | |
| 2026 (remaining) | |
$ | 5,241 | |
| 2027 | |
| 10,303 | |
| 2028 | |
| 10,121 | |
| 2029 | |
| 8,643 | |
| 2030 | |
| 7,281 | |
| Thereafter | |
| 29,020 | |
| Amortization expense | |
$ | 70,609 | |
The
estimated future amortization expense presented above excludes indefinite lived intangible assets, which are not subject to amortization.
|