Intangible Assets, Net

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

6. Intangible Assets, Net

The components of the Company’s intangible assets as of December 31, 2025 and December 31, 2024 were as follows:


		As of December 31, 2025
(In thousands, except useful life)	Useful Life	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Existing technology	3 to 10 years	$	287,301	$	(277,130	)	$	10,171
Customer contracts and contractual relationships	0.5 to 10 years		37,496		(37,496	)		—
Non-compete agreements and trademarks	3 years		300		(300	)		—
Total intangible assets		$	325,097	$	(314,926	)	$	10,171


		As of December 31, 2024
(In thousands, except useful life)	Useful Life	Gross Carrying Amount (1)		Accumulated Amortization (1)			Net Carrying Amount
Existing technology	3 to 10 years	$	288,001	$	(270,954	)	$	17,047
Customer contracts and contractual relationships	0.5 to 10 years		37,496		(37,484	)		12
Non-compete agreements and trademarks	3 years		300		(300	)		—
Total intangible assets		$	325,797	$	(308,738	)	$	17,059

(1)

The IPR&D projects acquired in connection with the acquisition of PLDA in 2021 were completed during the fourth quarter of 2024. The related intangible assets of $7.4 million were reclassified as existing technology and are being amortized over their expected useful life of five years. During the year ended December 31, 2024, the amortization for the reclassified assets was not material.

Amortization expense for intangible assets for the years ended December 31, 2025, 2024 and 2023 was $6.9 million, $11.7 million and $14.7 million, respectively.

The estimated future amortization expense of intangible assets as of December 31, 2025 was as follows (in thousands):


Years Ending December 31:	Amount
2026	$	5,530
2027		1,928
2028		1,480
2029		1,233
Total intangible assets	$	10,171