Intangible Assets, Net and Certain Cloud Computing Costs

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net and Certain Cloud Computing Costs

Intangible assets, net consisted of the following (dollars in thousands):


	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life (Years)
December 31, 2025
Client and other relationships	2 to 20 years	$	1,525,815	$	(602,572)	$	923,243	10.3
Trademarks	2 to 15 years	272,269		(226,370)		45,899		1.3
Capitalized software development costs	3 to 5 years	665,631		(416,448)		249,183		2.0
Acquired technology	4 to 7 years	331,973		(253,211)		78,762		1.8
Intangible assets, net		$	2,795,688	$	(1,498,601)	$	1,297,087	7.9
December 31, 2024
Client relationships	2 to 20 years	$	1,453,811	$	(490,426)	$	963,385	11.6
Trademarks	2 to 15 years	324,229		(263,671)		60,558		5.8
Capitalized software development costs	3 to 5 years	575,106		(293,588)		281,518		2.1
Acquired technology	4 to 7 years	341,563		(215,664)		125,899		2.8
Intangible assets, net		$	2,694,709	$	(1,263,349)	$	1,431,360	8.7

The following table presents the Company's amortization of intangible assets expense by component (in thousands):


	Year Ended December 31,
	2025		2024		2023
Amortization of acquired intangibles	$	183,147	$	230,328	$	242,976
Amortization of capitalized software development costs	167,617		133,037		82,957
Amortization of intangible assets	$	350,764	$	363,365	$	325,933

During the second half of the year ended December 31, 2023, the Company initiated a strategy to transition the majority of its chronic condition management Clients and members to the Teladoc Health brand on a phased basis, with a smaller subset continuing to be served under the Livongo trade name beyond 2024. In connection with the brand strategy, the Company accelerated the amortization of intangible assets that are associated with the Livongo trademark, increasing amortization of intangible assets expense beginning in the second half of the year ended December 31, 2023 and continuing through the year ended December 31, 2024, with corresponding reductions thereafter.

During the three months ended December 31, 2025, the Company initiated a strategy to transition the remainder of its chronic condition management Clients and members to the Teladoc Health brand by December 31, 2026. In connection with the brand strategy, the Company has decreased the remaining useful life of the related trademarks asset, which increased amortization expense for the year ended December 31, 2025 by $7.7 million, or $0.04 per share, and will increase amortization expense for the year ending December 31, 2026 by $30.7 million.

Periodic amortization of intangible assets that will be charged to expense over the remaining life of the intangible assets as of December 31, 2025 was as follows (in thousands):


Years Ending December 31,
2026	$	347,492
2027	234,213
2028	138,681
2029	103,737
2030 and thereafter	472,964
	$	1,297,087

Refer to Note 7. “Goodwill” for the results of impairment testing of the Company’s intangible assets, including goodwill.

Net cloud computing costs, which are primarily related to the implementation of the Company's customer relationship management (“CRM”) and enterprise resource planning (“ERP”) systems, are recorded in “Other assets” within the Company's Consolidated Balance Sheets. As of December 31, 2025 and 2024, those costs were $45.4 million and $44.8 million, respectively. The associated expense for cloud computing costs, which is recorded in general and administration expense, was $8.4 million and $5.7 million for the years ended December 31, 2025 and 2024, respectively. The capitalized cloud computing implementation costs are amortized over the shorter of the term of the related cloud computing arrangement or the period of benefit from the right to access the hosted software. The amortization period will be periodically reassessed to determine if it continues to be reasonable.