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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 7. Goodwill and Intangible Assets Goodwill The following table represents the change in the carrying value of goodwill for the nine months ended September 30, 2025 (amounts in thousands):
Balance at December 31, 2024 |  | $ | 1,030,995 |
Acquisition of 908 Devices PAT Portfolio |  |  | 50,057 |
Measurement period adjustment - Tantti Laboratory Inc. |  |  | (162 | )
Cumulative translation adjustment |  |  | 31,845 |
Balance at September 30, 2025 |  | $ | 1,112,735 |
The Company’s annual impairment analysis of goodwill was performed as of October 1, 2025. The qualitative assessment of the Company’s one reporting unit indicated there were no indications of impairment and it was not more likely than not that its fair value was less than its carrying amount. Intangible assets Indefinite-lived intangible assets are reviewed for impairment at least annually. Definite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. There has been no impairment of the Company’s intangible assets for the periods presented. Intangible assets, net, consisted of the following at September 30, 2025 and December 31, 2024:
|  | September 30, 2025 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
|  | (Amounts in thousands) |  |  |  |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Technology – developed |  | $ | 301,650 |  |  | $ | (76,826 | ) |  | $ | 224,824 |  |  |  | 15 |
Customer relationships |  |  | 277,276 |  |  |  | (115,577 | ) |  |  | 161,699 |  |  |  | 15 |
Trademarks |  |  | 10,539 |  |  |  | (2,783 | ) |  |  | 7,756 |  |  |  | 18 |
Other intangibles |  |  | 4,006 |  |  |  | (3,543 | ) |  |  | 463 |  |  |  | 3 |
Total finite-lived intangible assets |  |  | 593,471 |  |  |  | (198,729 | ) |  |  | 394,742 |  |  |  | 15 |
Indefinite-lived intangible asset: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 700 |  |  |  | — |  |  |  | 700 |  |  |  | — |
Total intangible assets |  | $ | 594,171 |  |  | $ | (198,729 | ) |  | $ | 395,442 |  |  |  |
|  | December 31, 2024 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
|  | (Amounts in thousands) |  |  |  |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Technology – developed |  | $ | 283,380 |  |  | $ | (60,272 | ) |  | $ | 223,108 |  |  |  | 16 |
Customer relationships |  |  | 267,599 |  |  |  | (100,646 | ) |  |  | 166,953 |  |  |  | 15 |
Trademarks |  |  | 8,641 |  |  |  | (2,283 | ) |  |  | 6,358 |  |  |  | 19 |
Other intangibles |  |  | 3,812 |  |  |  | (3,034 | ) |  |  | 778 |  |  |  | 3 |
Total finite-lived intangible assets |  |  | 563,432 |  |  |  | (166,235 | ) |  |  | 397,197 |  |  |  | 15 |
Indefinite-lived intangible asset: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 700 |  |  |  | — |  |  |  | 700 |  |  |  | — |
Total intangible assets |  | $ | 564,132 |  |  | $ | (166,235 | ) |  | $ | 397,897 |  |  |  |
Amortization expense for finite-lived intangible assets was $9.9 million and $8.6 million for each of the three months ended September 30, 2025 and 2024, respectively, and $29.3 million and $26.0 million for each of the nine months ended September 30, 2025 and 2024, respectively. As of September 30, 2025, the Company expects to record the following amortization expense in future periods:
|  | Amounts in thousands |
For the Years Ended December 31, |  |  |
2025 (remaining three months) |  | $ | 9,864 |
2026 |  |  | 39,394 |
2027 |  |  | 39,358 |
2028 |  |  | 39,324 |
2029 |  |  | 39,214 |
2030 and thereafter |  |  | 227,588 |
Total |  | $ | 394,742 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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