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Acquisitions, Intangible Assets and Goodwill
 6 Months Ended
Jun. 30, 2025
Acquisitions, Intangible Assets And Goodwill [Abstract]  
Acquisitions, Intangible Assets and Goodwill Acquisitions, Intangible Assets and Goodwill
2025 Acquisitions
During the three months ended June 30, 2025, the Company entered into three purchase agreements for acquisitions of businesses, each of which was accounted for as a business combination in accordance with ASC 805, Business Combinations. The Company does not consider these acquisitions to be material, individually or in aggregate. The total purchase price in aggregate of $178.4 million consisted of $109.3 million in cash payments, net of cash acquired, $16.1 million of deferred acquisition holdback payments and the issuance of 771,355 restricted shares of Class A common stock. The total purchase price was allocated to intangible assets in the amount of $16.3 million and goodwill in the amount of $164.5 million based on the respective estimated fair values. The purchase price allocations are preliminary. The Company continues to collect information with regard to its estimates and assumptions, including potential liabilities and contingencies. The Company will record adjustments to the fair value of the assets acquired, liabilities assumed and goodwill within the 12 month measurement period, if necessary. The resulting goodwill from each of the agreements is not deductible for income tax purposes. Pro forma results of operations from these acquisitions have not been presented because they were not material to the consolidated results of operations.
2024 Acquisitions
During the year ended December 31, 2024, the Company entered into one purchase agreement for an acquisition of a business, which was accounted for as a business combination in accordance with ASC 805, Business Combinations. The Company does not consider this acquisition to be material. The total purchase price was allocated to intangible assets in the amount of $0.7 million and goodwill in the amount of $10.2 million based on the respective estimated fair values. The resulting goodwill from the agreements is not deductible for income tax purposes. Pro forma results of operations from the acquisition have not been presented because they were not material to the consolidated results of operations.
Intangible Assets
Intangible assets, net consisted of the following (in thousands):
June 30, 2025
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Amortization
Period
Developed technology$17,264 $(4,260)$13,004 3 Years
Customer relationships4,400 (165)4,235 4 Years
Total$21,664 $(4,425)$17,239 
December 31, 2024
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Amortization
Period
Developed technology$10,918 $(7,432)$3,486 3 years
Customer relationships3,300 (3,075)225 4 years
Total$14,218 $(10,507)$3,711 
Intangible amortization expense was approximately $1.7 million and $1.5 million for the three months ended June 30, 2025 and 2024, respectively, and $2.8 million and $3.7 million for the six months ended June 30, 2025 and 2024, respectively.
As of June 30, 2025, future amortization expense by year is expected to be as follows (in thousands):
 Amount
Remainder of 2025$3,359 
20265,811 
20275,267 
20282,422 
2029380 
Total$17,239 
Goodwill
The changes in the carrying amount of goodwill were as follows (in thousands):
Amount
Balance as of December 31, 2024$360,381 
2025 acquisitions164,470 
Foreign currency translation adjustments6,131 
Balance as of June 30, 2025$530,982 
Acquisitions, Intangible Assets and Goodwill Acquisitions, Intangible Assets and Goodwill
2025 Acquisitions
During the three months ended June 30, 2025, the Company entered into three purchase agreements for acquisitions of businesses, each of which was accounted for as a business combination in accordance with ASC 805, Business Combinations. The Company does not consider these acquisitions to be material, individually or in aggregate. The total purchase price in aggregate of $178.4 million consisted of $109.3 million in cash payments, net of cash acquired, $16.1 million of deferred acquisition holdback payments and the issuance of 771,355 restricted shares of Class A common stock. The total purchase price was allocated to intangible assets in the amount of $16.3 million and goodwill in the amount of $164.5 million based on the respective estimated fair values. The purchase price allocations are preliminary. The Company continues to collect information with regard to its estimates and assumptions, including potential liabilities and contingencies. The Company will record adjustments to the fair value of the assets acquired, liabilities assumed and goodwill within the 12 month measurement period, if necessary. The resulting goodwill from each of the agreements is not deductible for income tax purposes. Pro forma results of operations from these acquisitions have not been presented because they were not material to the consolidated results of operations.
2024 Acquisitions
During the year ended December 31, 2024, the Company entered into one purchase agreement for an acquisition of a business, which was accounted for as a business combination in accordance with ASC 805, Business Combinations. The Company does not consider this acquisition to be material. The total purchase price was allocated to intangible assets in the amount of $0.7 million and goodwill in the amount of $10.2 million based on the respective estimated fair values. The resulting goodwill from the agreements is not deductible for income tax purposes. Pro forma results of operations from the acquisition have not been presented because they were not material to the consolidated results of operations.
Intangible Assets
Intangible assets, net consisted of the following (in thousands):
June 30, 2025
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Amortization
Period
Developed technology$17,264 $(4,260)$13,004 3 Years
Customer relationships4,400 (165)4,235 4 Years
Total$21,664 $(4,425)$17,239 
December 31, 2024
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Amortization
Period
Developed technology$10,918 $(7,432)$3,486 3 years
Customer relationships3,300 (3,075)225 4 years
Total$14,218 $(10,507)$3,711 
Intangible amortization expense was approximately $1.7 million and $1.5 million for the three months ended June 30, 2025 and 2024, respectively, and $2.8 million and $3.7 million for the six months ended June 30, 2025 and 2024, respectively.
As of June 30, 2025, future amortization expense by year is expected to be as follows (in thousands):
 Amount
Remainder of 2025$3,359 
20265,811 
20275,267 
20282,422 
2029380 
Total$17,239 
Goodwill
The changes in the carrying amount of goodwill were as follows (in thousands):
Amount
Balance as of December 31, 2024$360,381 
2025 acquisitions164,470 
Foreign currency translation adjustments6,131 
Balance as of June 30, 2025$530,982