Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill

The following table summarizes the changes in the carrying amount of goodwill:


(in thousands)
Balance as of December 31, 2025	$	162,158
Foreign currency translation adjustments	(1,448)
Balance as of September 30, 2026	$	160,710

No goodwill impairment was recorded during the three and nine months ended September 30, 2026 and 2025.

Intangible Assets, Net

The following table summarizes intangible assets:


	September 30, 2026						December 31, 2025
(in thousands)	Gross carrying amount		Accumulated Amortization		Net carrying amount		Gross carrying amount		Accumulated Amortization		Net carrying amount
Definite-lived technology intangible assets	$	234,036	$	(99,287)	$	134,749	$	236,497	$	(69,156)	$	167,341
Definite-lived licensed intangible assets	13,073		(10,366)		2,707		11,158		(6,619)		4,539
Indefinite-lived intangible assets	136,221		—		136,221		138,023		—		138,023
Total intangible assets	$	383,330	$	(109,653)	$	273,677	$	385,678	$	(75,775)	$	309,903

Amortization expense was $10.2 million and $34.6 million during the three and nine months ended September 30, 2026, respectively. Amortization expense was $13.4 million and $37.4 million during the three and nine months ended September 30, 2025, respectively. Amortization expense was included in “Research and Development” in the Condensed Consolidated Statements of Operations. Intangible assets, net decreased by $36.2 million during the nine months ended September 30, 2026 of which $3.6 million was attributable to foreign currency translation adjustments.

No indefinite-lived intangible asset impairment charges were recorded during the three and nine months ended September 30, 2026 and 2025.