v3.26.3
Intangible Assets, Net
9 Months Ended
Sep. 30, 2026
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]  
Intangible assets, net

5. Intangible assets, net

Intangible assets other than goodwill consist of the following:

 

 

 

 

 

September 30, 2026

 

 

December 31, 2025

 

(In thousands)

 

Amortization
period

 

Gross amount

 

 

Accumulated amortization

 

 

Net

 

 

Gross amount

 

 

Accumulated amortization

 

 

Net

 

Software developed for internal use

 

5-10 years

 

$

97,158

 

 

$

(56,784

)

 

$

40,374

 

 

$

85,843

 

 

$

(48,704

)

 

$

37,139

 

Acquired intangible assets

 

10 years

 

 

3,003

 

 

 

(304

)

 

 

2,699

 

 

 

2,282

 

 

 

(157

)

 

 

2,125

 

Total

 

 

 

$

100,161

 

 

$

(57,088

)

 

$

43,073

 

 

$

88,125

 

 

$

(48,861

)

 

$

39,264

 

The gross carrying amount of software developed for internal use includes capitalized costs related to the design, development, and testing of internal-use software. These costs primarily consist of eligible personnel-related expenses, share-based compensation, and travel expenses incurred by relevant employees, and other directly attributable costs incurred during the application development stage. The gross carrying amount of acquired intangible assets reflects the acquisition cost of certain data assets for which the Company has obtained perpetual usage rights.

Amortization expenses of $2,765 and $2,651 for the three months ended September 30, 2026 and 2025, respectively, and $8,227 and $7,746 for the nine months ended September 30, 2026 and 2025, respectively, were included in depreciation and amortization expense. As of September 30, 2026, intangible assets of $9,017, included in the gross carrying amounts of intangible assets, have not yet commenced amortization, as they are not ready for their intended use.

The Company capitalized costs of intangible assets of $4,642 and $3,723 during the three months ended September 30, 2026 and 2025, respectively, and $12,036 and $10,498 during the nine months ended September 30, 2026 and 2025, respectively.

As of September 30, 2026, estimated amortization expense related to the Company’s intangible assets for the remainder of 2026 through 2031 and thereafter is as follows:

 

(In thousands)

 

 

 

Year

 

September 30, 2026

 

Remainder of 2026

 

$

2,837

 

2027

 

 

11,352

 

2028

 

 

9,302

 

2029

 

 

7,340

 

2030

 

 

5,296

 

2031 and thereafter

 

 

6,946

 

Total

 

$

43,073