Intangible Assets, Net

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible assets consisted of the following as of June 30, 2026 (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, Net
Amortizing intangible assets
Patents	$	178,005	$	(54,390)	$	123,615
Developed technology	50,781		(45,886)		4,895
Customer relationships	1,250		(1,125)		125
Assembled workforce	667		(615)		52
	$	230,703	$	(102,016)	$	128,687

Intangible assets consisted of the following as of December 31, 2025 (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, Net
Amortizing intangible assets
Patents	$	178,005	$	(48,457)	$	129,548
Developed technology	50,781		(40,887)		9,894
Customer relationships	1,250		(1,000)		250
Assembled workforce	670		(557)		113
	$	230,706	$	(90,901)	$	139,805

Amortization expense of intangible assets was $5.5 million and $11.1 million for the three and six months ended June 30, 2026. Amortization expense of intangible assets was $5.6 million and $11.2 million for the three and six months ended June 30, 2025. Amortization expense attributable to patents and developed technology is reflected in Technology on the condensed consolidated statements of operations and comprehensive loss. Amortization expense attributable to customer relationships and assembled workforce is reflected in General and administrative on the condensed consolidated statements of operations and comprehensive loss.

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


Remaining 2026	$	11,006
2027	11,867
2028	11,867
2029	11,867
2030	11,867
Thereafter	70,213
Total expected future amortization expense	$	128,687