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INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended
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Dec. 31, 2025
INTANGIBLE ASSETS AND GOODWILL |
INTANGIBLE ASSETS AND GOODWILL | (9) INTANGIBLE ASSETS AND GOODWILL ​ The Company’s intangible assets at December 31, 2025 and 2024 consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | average | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Net
​ | ​ | period | ​ ​ ​ | ​ | ​ | ​ ​ ​ | Accumulated | ​ ​ ​ | carrying
December 31, 2025 | ​ ​ ​ | (years) | ​ | Cost | ​ ​ ​ | amortization | ​ ​ ​ | value
Developed technology | ​ | 7.84 | ​ | $ | 340,380 | ​ | $ | 281,000 | ​ | $ | 59,380
Customer relationships | ​ | 11.86 | ​ | ​ | 268,140 | ​ | ​ | 184,462 | ​ | ​ | 83,678
Trade names | ​ | 3.88 | ​ | ​ | 5,000 | ​ | ​ | 5,000 | ​ | ​ | —
Software licenses |  | 3.00 |  | ​ | 5,748 |  | ​ | 5,462 |  | ​ | 286
​ |  | ​ | ​ | $ | 619,268 | ​ | $ | 475,924 | ​ | $ | 143,344
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | average | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Net
​ | ​ | period | ​ ​ ​ | ​ | ​ | ​ ​ ​ | Accumulated | ​ ​ ​ | carrying
December 31, 2024 | ​ ​ ​ | (years) | ​ | Cost | ​ ​ ​ | amortization | ​ ​ ​ | value
Developed technology | ​ | 7.84 | ​ | $ | 340,380 | ​ | $ | 262,085 | ​ | $ | 78,295
Customer relationships | ​ | 11.86 | ​ | ​ | 268,140 | ​ | ​ | 160,635 | ​ | ​ | 107,505
Trade names | ​ | 3.88 | ​ | ​ | 5,000 | ​ | ​ | 4,978 | ​ | ​ | 22
Software licenses |  | 3.00 |  | ​ | 5,748 |  | ​ | 4,033 |  | ​ | 1,715
​ |  | ​ | ​ | $ | 619,268 | ​ | $ | 431,731 | ​ | $ | 187,537
​ Estimated future amortization expense for the Company’s intangible assets at December 31, 2025 was as follows (in thousands):
​ | ​ | ​ | ​
Years ending December 31, | ​ ​ ​ | ​ | ​
2026 | ​ | $ | 39,143
2027 | ​ |  | 33,976
2028 | ​ |  | 23,400
2029 | ​ |  | 18,380
2030 | ​ | ​ | 7,723
Thereafter | ​ | ​ | 20,722
​ | ​ | $ | 143,344
​ Goodwill is recorded when the consideration for an acquisition exceeds the fair value of net tangible and identifiable intangible assets acquired. For the purpose of testing goodwill for impairment, all goodwill is assigned to a reporting unit, which may be either an operating segment or a portion of an operating segment. The Company’s reporting units are its two operating segments, Cloud and Edge and IP Optical Networks. Testing for impairment of goodwill is completed annually as of October 1st. The Company’s IP Optical Networks operating segment, with $76.0 million of associated goodwill, had a negative carrying value and a positive fair value as of October 1st for both 2025 and 2024. Upon completion of the 2025 and 2024 annual tests for goodwill impairment, the Company determined that there was no impairment of goodwill in either of its reporting units. There was no change in the carrying value of the Company’s goodwill in the years ended December 31, 2025 and 2024. The components of goodwill at December 31, 2025 and 2024 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Cloud and | ​ ​ ​ | IP Optical | ​ ​ ​ | ​ | ​
​ | ​ | Edge | ​ | Networks | ​ | Total
Goodwill | ​ | $ | 392,302 | ​ | $ | 191,996 | ​ | $ | 584,298
Accumulated impairment losses | ​ |  | (167,406) | ​ |  | (116,000) | ​ |  | (283,406)
​ | ​ | $ | 224,896 | ​ | $ | 75,996 | ​ | $ | 300,892
​

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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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