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

7. INTANGIBLE ASSETS, NET

Intangible assets, net is composed of the following (in thousands):

 

 

September 30,

 

 

December 31,

 

 

2026

 

 

2025

 

Developed technology

 

$

798,092

 

 

$

657,690

 

Naming rights

 

 

62,844

 

 

 

48,084

 

Customer relationships

 

 

318,651

 

 

 

43,087

 

Internal-use software

 

 

46,779

 

 

 

28,340

 

Trademark

 

 

52,910

 

 

 

19,577

 

In-process research and development

 

 

18,800

 

 

 

18,800

 

Non-compete agreements

 

 

8,390

 

 

 

8,839

 

Patents

 

 

7,343

 

 

 

7,345

 

Website and other

 

 

776

 

 

 

377

 

Gross intangible assets

 

 

1,314,585

 

 

 

832,139

 

Less: accumulated amortization

 

 

(169,524

)

 

 

(64,707

)

Total intangible assets, net

 

$

1,145,061

 

 

$

767,432

 

 

Amortization expense for the three months ended September 30, 2026 and 2025, was $41.9 million and $14.9 million, respectively. Amortization expense for the nine months ended September 30, 2026 and 2025 was $106.4 million and $22.5 million, respectively.