Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2026

5. Goodwill and Intangible Assets

The following is a summary of changes to the goodwill carrying value from December 31, 2025 to September 30, 2026:


(in thousands)
Goodwill at December 31, 2025	$	516,002
Foreign exchange impact		(4,918)
Goodwill at September 30, 2026	$	511,084

The following table summarizes the Company’s intangible assets and related accumulated amortization:


(in thousands)	September 30, 2026								December 31, 2025
	Gross Carrying			Accumulated			Net Carrying		Gross Carrying			Accumulated			Net Carrying
	Amount			Amortization			Amount		Amount			Amortization			Amount
Trademarks and brands	$	11,735		$	(7,276)		$	4,459	$	11,737		$	(6,718)		$	5,019
Customer relationships		168,512			(103,333)			65,179		169,275			(92,323)			76,952
Developed technology		104,817			(93,156)			11,661		105,687			(86,042)			19,645
Total intangible assets	$	285,064		$	(203,765)		$	81,299	$	286,699		$	(185,083)		$	101,616

Amortization expense related to intangible assets for the three months ended September 30, 2026 and September 30, 2025 was $6.5 million and $7.9 million, respectively. Amortization expense related to intangible assets for the nine months ended September 30, 2026 and September 30, 2025 was $19.6 million and $23.3 million, respectively.

Estimated future expected amortization expense of intangible assets as of September 30, 2026 is as follows:


(in thousands)
2026 (for remaining three months)	$	6,244
2027		21,745
2028		18,450
2029		13,895
2030		7,178
Thereafter		13,787
Total	$	81,299

The weighted-average remaining useful life by major asset classes as of September 30, 2026 is as follows:


		(In years)
Trademarks and brands		6
Customer relationships		4
Developed technology		1

There were no impairments of Goodwill or Intangible assets identified during the nine months ended September 30, 2026 or September 30, 2025.