v3.26.3
Intangible Assets
9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets

6. Intangible assets

The following table summarizes the intangible assets, net (in thousands):

 

 

 

September 30, 2026

 

 

December 31, 2025

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

30,807

 

 

$

(6,038

)

 

$

24,769

 

 

$

25,400

 

 

$

(3,024

)

 

$

22,376

 

Other

 

 

2,544

 

 

 

(706

)

 

 

1,838

 

 

 

1,165

 

 

 

(316

)

 

 

849

 

Total finite-lived intangible assets

 

 

33,351

 

 

 

(6,744

)

 

 

26,607

 

 

 

26,565

 

 

 

(3,340

)

 

 

23,225

 

Total intangible assets

 

$

33,351

 

 

$

(6,744

)

 

$

26,607

 

 

$

26,565

 

 

$

(3,340

)

 

$

23,225

 

 

Developed technology primarily consists of the cardiovascular analytics data platform originally recognized upon acquisition of Prolaio, Inc. in February 2025. The developed technology, with a gross carrying amount of $25.4 million, was assigned an estimated useful life of seven years. The acquired IPR&D assets, also recognized upon the Prolaio acquisition, and presented within the other category, were initially classified as indefinite-lived intangible assets. By December 31, 2025,

the Company determined that the underlying projects had reached technological feasibility and accordingly reclassified these assets as finite-lived intangible assets with an estimated useful life of three years.

Subsequent to the Prolaio acquisition, the Company’s engineering team continued to enhance the acquired technology and expand the platform capabilities through the addition of new features and functional improvements. The Company capitalizes certain qualifying costs related to the development of computer software for internal use. The Company capitalized internal-use software costs totaling $6.8 million for the nine months ended September 30, 2026.

Capitalized internal-use software costs related to the development of the Prolaio platform are included within the developed technology category and amounted to $5.4 million for the nine months ended September 30, 2026. Capitalized internal-use software costs related to other development projects are included within the other category, and amounted to $1.4 million for the nine months ended September 30, 2026.

The finite-lived intangible assets include $4.1 million and zero of software development costs related to projects not yet placed in service as of September 30, 2026, and December 31, 2025, respectively. No amortization expense was recorded in relation to these costs for the three and nine months ended September 30, 2026.

Amortization expense related to finite-lived intangible assets was $1.1 million and $3.4 million for the three and nine months ended September 30, 2026, and $1.0 million and $2.3 million for the three and nine months ended September 30, 2025, respectively, and was primarily included in R&D expenses on the condensed consolidated statements of operations and comprehensive loss.

The following table summarizes the estimated future amortization expense associated with the finite-lived intangible assets placed in service as of September 30, 2026 (in thousands):

 

 

 

Amount

 

2026 (three months remaining)

 

$

1,118

 

2027

 

 

4,473

 

2028

 

 

4,157

 

2029

 

 

3,953

 

2030

 

 

3,953

 

Thereafter

 

 

4,834

 

Total estimated future amortization expense

 

$

22,488

 

 

As of September 30, 2026 and December 31, 2025, there were no accumulated impairment losses related to intangible assets.