Intangible Assets, Goodwill and Other

9 Months Ended

Sep. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible Assets and Goodwill

Intangible Assets

The following tables present identifiable intangible assets:


	September 30, 2026
	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(In thousands)
Indefinite life intangible assets:
Trade names	Indefinite	$	21,195	$	—	$	21,195
Spectrum and licenses	Indefinite	14,030		—		14,030
Total		35,225		—		35,225
Definite life intangible assets:
Intellectual property	20 years	16,439		(12,179)		4,260
Patents	14 - 20 years	587		(280)		307
Customer relationships	12 - 13 years	267,000		(17,272)		249,728
Developed technology	10 years	69,600		(2,423)		67,177
Aireon trade name	4 years	5,500		(344)		5,156
Total		359,126		(32,498)		326,628
Total intangible assets		$	394,351	$	(32,498)	$	361,853


	December 31, 2025
	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(In thousands)
Indefinite life intangible assets:
Trade names	Indefinite	$	21,195	$	—	$	21,195
Spectrum and licenses	Indefinite	14,030		—		14,030
Total		35,225		—		35,225
Definite life intangible assets:
Intellectual property	20 years	16,439		(11,854)		4,585
Patents	14 - 20 years	587		(249)		338
Customer relationships	12 years	57,000		(10,220)		46,780
Total		74,026		(22,323)		51,703
Total intangible assets		$	109,251	$	(22,323)	$	86,928

Amortization expense was $6.0 million and $1.0 million for the three months ended September 30, 2026 and September 30, 2025, respectively, and $10.2 million and $3.0 million for the nine months ended September 30, 2026 and September 30, 2025, respectively. The increases to amortization expense during the three and nine months ended September 30, 2026 were due to the acquisition of Aireon Holdings LLC (“Aireon Holdings”) (see Note 11), resulting in $285.1 million of definite life intangible assets.

Goodwill

During the nine months ended September 30, 2026, the Company acquired Aireon Holdings (see Note 11), resulting in additional goodwill of $167.2 million. The Company’s goodwill balance as of September 30, 2026 and December 31, 2025 was $266.1 million and $98.9 million, respectively.