The carrying amount of goodwill was $512.9 million at both September 30, 2026 and December 31, 2025. Goodwill represents the excess purchase price over the fair value of net assets acquired. The annual impairment test was performed as of October 31, 2025. No impairment of goodwill was identified during 2025, nor has any impairment of goodwill been recorded to date.


	As of September 30, 2026						As of December 31, 2025
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount

Acquired technology	$	117,737	$	(114,525)	$	3,212	$	117,737	$	(101,481)	$	16,256
Capitalized software development costs	122,187		(53,943)		68,244		103,884		(41,763)		62,121
	$	239,924	$	(168,468)	$	71,456	$	221,621	$	(143,244)	$	78,377

The Company recorded intangible assets from various prior business combinations as well as capitalized software development costs. Intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from five to seven years. During the three months ended September 30, 2026 and 2025, the Company capitalized software development costs of $8.1 million and $6.1 million, respectively, and $22.5 million and $17.7 million for the nine months ended September 30, 2026 and 2025, respectively. Amortization expense included in cost of revenues on the condensed consolidated statements of comprehensive income was $10.1 million for each of the three months ended September 30, 2026 and 2025, and $29.5 million for each of the nine months ended September 30, 2026 and 2025. Amortization expense included in operating expenses on the condensed consolidated statements of comprehensive income was zero for each of the three months ended September 30, 2026 and 2025, and zero and $0.1 million for the nine months ended September 30, 2026 and 2025, respectively.