| Intangible Assets |
Intangible Assets As of September 30, 2026, and December 31, 2025, intangible assets were classified as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | Intangible assets: | Weighted Average Amortization Period (in years) | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | | | (in thousands) | | Developed technology | 7 | | $ | 4,980 | | | $ | (935) | | | $ | 4,045 | | | Customer relationships | 7 | | 14,120 | | | (2,953) | | | 11,167 | | | Trade name | 12 | | 5,630 | | | (627) | | | 5,003 | | | Licensed IP | 5 | | 4,979 | | | (2,529) | | | 2,450 | | Total intangible assets | | | $ | 29,709 | | | $ | (7,044) | | | $ | 22,665 | | | | | | | | | |
On January 1, 2026, the Company retired $0.8 million of intangible assets that were fully amortized. | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Intangible assets: | Weighted Average Amortization Period (in years) | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | | | (in thousands) | | Developed technology | 7 | | $ | 5,780 | | | $ | (1,199) | | | $ | 4,581 | | | Customer relationships | 7 | | 14,120 | | | (1,307) | | | 12,813 | | | Trade name | 12 | | 5,630 | | | (234) | | | 5,396 | | | Non-compete agreements | 5 | | 20 | | | (20) | | | — | | | Licensed IP | 5 | | 4,979 | | | (1,742) | | | 3,237 | | Total intangible assets | | | $ | 30,529 | | | $ | (4,502) | | | $ | 26,027 | | | | | | | | | |
Amortization expense for the three and nine months ended September 30, 2026, and 2025 was: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (in thousands) | | Cost of revenue | $ | 246 | | | $ | 249 | | | $ | 742 | | | $ | 747 | | | Research and development | 178 | | | 150 | | | 536 | | | 272 | | | General and administrative | 677 | | | 580 | | | 2,039 | | | 944 | | | Total amortization expense | $ | 1,101 | | | $ | 979 | | | $ | 3,317 | | | $ | 1,963 | |
As of September 30, 2026, estimated future amortization expense for the intangible assets reflected above was as follows: | | | | | | | | | | Year Ending December 31, | | | Amount | | | (in thousands) | | Remainder of 2026 | | $ | 1,100 | | | 2027 | | 4,366 | | | 2028 | | 4,345 | | | 2029 | | 3,610 | | | 2030 | | 3,365 | | | Thereafter | | 5,879 | | Total net carrying value of intangible assets | | $ | 22,665 | | | | |
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