Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

There were no changes in the carrying amount of goodwill during the three and six months ended June 30, 2025.

Intangible assets other than goodwill at June 30, 2025 and December 31, 2024 were as follows:



	June 30, 2025						December 31, 2024						Useful Life (in years)	Weighted Average Useful Life Remaining (in years)
(in thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Intangible assets with finite lives:
Non-compete agreement	$	851	$	(786)	$	65	$	819	$	(703)	$	116	2.0 - 5.0	0.4
Software technology	13,229		(9,808)		3,421		13,229		(9,123)		4,106		10.0	2.5
Software platform	27,135		(10,121)		17,014		25,657		(8,457)		17,200		12.0	7.6
Total intangible assets	$	41,215	$	(20,715)	$	20,500	$	39,705	$	(18,283)	$	21,422

Intangible assets allocated to the Protolabs Network entities consisted of intangible assets of €11.6 million in Europe and $16.6 million in the United States as of the date of the acquisition. The Euro denominated intangible assets are translated at the end of each period using the current exchange rates resulting in a foreign currency translation adjustment that is recorded as a component of Other Comprehensive Income. Foreign currency unrealized losses related to intangible assets were $0.5 million and $2.2 million as of June 30, 2025 and December 31, 2024, respectively. Amortization expense for intangible assets was $0.9 million for each of the three months ended June 30, 2025 and 2024, and $1.8 million and $1.9 million for the six months ended June 30, 2025 and 2024.

Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets and current exchange rates is as follows:



(in thousands)	Estimated Amortization Expense
Remaining 2025	$	1,862
2026	3,622
2027	3,613
2028	2,244
2029	2,244
Thereafter	6,915
Total estimated amortization expense	$	20,500