Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

We operate our business in two operating segments that also represent our reporting units. Our reporting units are organized based on our technology and professional services. We have not incurred any goodwill impairment charges.

Changes in the carrying amount of goodwill by reporting unit for the three months ended March 31, 2025 were as follows (in thousands):


	Technology		Professional Services		Total



Balance as of December 31, 2024	$	253,090	$	6,669	$	259,759
Upfront acquisition	52,912		—		52,912
Foreign currency translation adjustments	709		—		709
Balance as of March 31, 2025	$	306,711	$	6,669	$	313,380

As of March 31, 2025, intangible assets consisted of the following (in thousands):


	Cost		Accumulated Amortization		Net
	(unaudited)
Developed technologies	$	140,800	$	(97,863)	$	42,937
Client relationships and contracts	120,578		(60,952)		59,626
Computer software licenses	11,148		(9,847)		1,301
Trademarks	5,328		(2,792)		2,536
Total intangible assets	$	277,854	$	(171,454)	$	106,400

Amortization expense of acquired intangible assets was $8.7 million and $7.3 million for the three months ended March 31, 2025 and 2024, respectively. Amortization expense for intangible assets is included in depreciation and amortization in our condensed consolidated statements of operations. We have not incurred any intangible asset impairment charges for the three months ended March 31, 2025 and 2024.

As of December 31, 2024, intangible assets consisted of the following (in thousands):


	Cost		Accumulated Amortization		Net
Developed technologies	$	124,109	$	(93,611)	$	30,498
Client relationships and contracts	108,824		(57,020)		51,804
Computer software licenses	11,149		(9,503)		1,646
Trademarks	4,694		(2,590)		2,104
Total intangible assets	$	248,776	$	(162,724)	$	86,052