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Goodwill and Other Intangibles | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | Goodwill and Other Intangibles Goodwill and intangible assets deemed to have an indefinite life are not amortized, but are reviewed annually for impairment of value or when indicators of a potential impairment are present. As part of the Company’s business planning cycle, the Company performs an annual goodwill impairment test in the fourth quarter of the fiscal year. There were no indications of impairment of goodwill noted as of September 30, 2025. In March 2025, the Company recorded $252.1 million to goodwill related to the acquisition of MANTL under the preliminary purchase price allocation. For the nine months ended September 30, 2025, the Company adjusted goodwill related to the acquisition of MANTL to $255.4 million. See Note 3 for further information. Goodwill has a carrying value of $403.4 million and $148.1 million as of September 30, 2025 and December 31, 2024, respectively. Total intangibles assets consisted of the following as of September 30, 2025 and December 31, 2024:
|  | As of September 30, 2025
(in thousands) |  | Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Finite-lived: |  |  |  |  |  |
Customer Relationships |  | $ | 92,800 |  |  | $ | (7,767) |  |  | $ | 85,033 |
Developed Technology |  | 99,200 |  |  | (24,550) |  |  | 74,650 |
Tradenames |  | 6,450 |  |  | (596) |  |  | 5,854 |
Total amortizable intangible assets |  | 198,450 |  |  | (32,913) |  |  | 165,537 |
Website domain name (Indefinite-lived) |  | 25 |  |  | — |  |  | 25 |
Total intangible assets |  | $ | 198,475 |  |  | $ | (32,913) |  |  | $ | 165,562 |
|  | As of December 31, 2024
(in thousands) |  | Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Finite-lived: |  |  |  |  |  |
Customer Relationships |  | $ | 20,470 |  |  | $ | (4,185) |  |  | $ | 16,285 |
Developed Technology |  | 27,700 |  |  | (15,502) |  |  | 12,198 |
Tradenames |  | 750 |  |  | (237) |  |  | 513 |
Total amortizable intangible assets |  | 48,920 |  |  | (19,924) |  |  | 28,996 |
Website domain name (Indefinite-lived) |  | 25 |  |  | — |  |  | 25 |
Total intangible assets |  | $ | 48,945 |  |  | $ | (19,924) |  |  | $ | 29,021 |
Amortization expense recognized on intangible assets was $6.7 million and $15.7 million for the three and nine months ended September 30, 2025, respectively, and $1.7 million and $5.1 million for the three and nine months ended September 30, 2024, respectively. In March 2025, due to the acquisition of MANTL, the Company assessed all of the assets of MK Decisioning Systems, LLC for potential impairment and determined that $1.2 million of developed technology intangible assets, $0.1 million of customer relationship intangible assets, as well as $0.4 million of capitalized software development costs included in property and equipment, net, would not have future economic benefit and the value of the intangible assets was written off, resulting in a loss on impairment of $1.7 million. This non-cash charge was recorded to loss on impairment of intangible assets and is included in the condensed consolidated statements of operations for the nine months ended September 30, 2025. No impairment was identified for goodwill or any other assets. The following table shows the estimated annual amortization expense of the definite-lived intangible assets for the next five years and thereafter (in thousands):
2025 (three months remaining) | 6,620 |
2026 | 26,478 |
2027 | 23,614 |
2028 | 21,887 |
2029 | 21,887 |
Thereafter | 65,051 |
| $ | 165,537 |

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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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