The Company has the following intangible assets, net as of September 30, 2026 and December 31, 2025:


($ in thousands)	Gross Carrying Amount		Accumulated Amortization		Net
License Fees
September 30, 2026	$	59,524	$	(33,276)	$	26,248
December 31, 2025	$	52,262	$	(26,305)	$	25,957

Internally Developed Software
September 30, 2026	$	120,670	$	(73,931)	$	46,739
December 31, 2025	$	96,898	$	(53,272)	$	43,626

Other Intangible Assets(1)
September 30, 2026	$	21,594	$	(12,951)	$	8,643
December 31, 2025	$	16,374	$	(9,521)	$	6,853

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(1)Other intangible assets include developed technology, trademarks, media content, customer lists and software licenses.

Amortization expense was $11.1 million and $30.9 million for the three and nine months ended September 30, 2026, respectively, compared to amortization expense of $9.2 million and $26.5 million for the same respective periods in 2025.

Property and equipment, net as of September 30, 2026 and December 31, 2025 was $9.1 million and $7.7 million, respectively. Included within property and equipment, net are finance lease right-of-use assets of $6.3 million and $5.3 million as of September 30, 2026 and December 31, 2025, respectively.

The Company recorded depreciation expense on property and equipment of $0.4 million and $1.2 million for the three and nine months ended September 30, 2026, respectively, consistent with the same respective periods in 2025. The Company recorded amortization expense on finance lease right-of-use assets of $0.6 million and $1.9 million for the three and nine months ended September 30, 2026, respectively, compared to $0.6 million and $1.8 million for the same respective periods in 2025.