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Intangible Assets, Net
 9 Months Ended
Sep. 30, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets, Net

7. INTANGIBLE ASSETS, NET

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

 

 

September 30,

 

 

December 31,

 

 

2025

 

 

2024

 

Developed technology

 

$

596,041

 

 

$

4,293

 

Customer relationships

 

 

30,830

 

 

 

7,700

 

Internal-use software

 

 

26,670

 

 

 

21,301

 

Trademark

 

 

19,960

 

 

 

377

 

Non-compete agreements

 

 

8,781

 

 

 

—

 

Patents

 

 

7,344

 

 

 

7,112

 

Website and other

 

 

377

 

 

 

227

 

Gross intangible assets

 

 

690,003

 

 

 

41,010

 

Less: accumulated amortization

 

 

(34,094

)

 

 

(11,541

)

Total intangible assets, net

 

$

655,909

 

 

$

29,469

 

 

Amortization expense for the three months ended September 30, 2025 and 2024, was $14.9 million and $1.4 million, respectively. Amortization expense for the nine months ended September 30, 2025 and 2024, was $22.5 million and $4.1 million, respectively.