Goodwill represents the excess of the consideration transferred over the estimated fair value of assets acquired and liabilities assumed in a business combination. Goodwill is not amortized, but is tested for impairment annually as of September 30, or more frequently if events or changes in circumstances indicate that goodwill may be impaired, by performing a qualitative assessment on the Company’s reporting unit.

As of the annual measurement date of September 30, 2026, the Company’s market capitalization remains above the carrying value of the Company’s assets. Based on its qualitative assessment, the Company determined that it is more likely than not that the fair value of its reporting unit is greater than its carrying amount, and no indicators of impairment are present as of September 30, 2026. There were no changes to goodwill during the three and nine months ended September 30, 2026.

The following table presents the Company’s finite-lived intangible asset balances by asset class (in thousands):


	September 30, 2026						December 31, 2025
Intangible Asset	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value

Developed Technology	$	54,677	$	(53,459)	$	1,218	$	54,677	$	(44,741)	$	9,936
Patents	34,900		(10,139)		24,761		34,900		(8,294)		26,606
Customer Relationships	24,300		(10,024)		14,276		24,300		(8,201)		16,099
Non-Competition Agreements	1,900		(1,568)		332		1,900		(1,283)		617

Total	$	115,777	$	(75,190)	$	40,587	$	115,777	$	(62,519)	$	53,258

Total future amortization expense of intangible assets is estimated to be as follows (in thousands):


Fiscal Year Ending December 31,	Total
2026 (remainder of fiscal 2026)	$	1,649
2027	5,641
2028	4,996
2029	4,690
2030	4,690
Thereafter	18,921
Total	$	40,587