Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

5. Goodwill and Intangible Assets

The changes in the carrying value of the Company’s goodwill balance was as follows:


	March 31, 2025		December 31, 2024
	(In thousands)
Goodwill, opening balance	$	63,063	$	63,063
Acquisition of Teads	501,579		—
Foreign currency translation	22,852		—
Goodwill, closing balance	$	587,494	$	63,063

The Company has not recorded any impairments and has no accumulated impairments of goodwill.

The gross carrying amount and accumulated amortization of the Company’s intangible assets are as follows:


	March 31, 2025
	Weighted Average Amortization Period	Gross Value		Accumulated Amortization		Net Carrying Value
		(In thousands)
Developed technology	5.0 years	$	85,169	$	(10,822)	$	74,347
Customer relationships	10.3 years	249,663		(9,125)		240,538
Publisher relationships	8.0 years	60,827		(9,059)		51,768
Trade names	10.9 years	25,325		(1,530)		23,795
Other	15.8 years	906		(332)		574
Total intangible assets, net		$	421,890	$	(30,868)	$	391,022


	December 31, 2024
	Weighted Average Amortization Period	Gross Value		Accumulated Amortization		Net Carrying Value
		(In thousands)
Developed technology	8.0 years	$	18,411	$	(12,149)	$	6,262
Customer relationships	5.0 years	5,743		(5,448)		295
Publisher relationships	8.0 years	18,509		(11,747)		6,762
Trade names	8.8 years	5,235		(2,328)		2,907
Content provider relationships	5.0 years	284		(169)		115
Other	15.8 years	906		(319)		587
Total intangible assets, net		$	49,088	$	(32,160)	$	16,928

During the three months ended March 31, 2025, in connection with the post-merger integration of the newly acquired Teads business, the Company made a decision to discontinue its video product offering associated with its prior acquisition of vi. Accordingly, the Company fully wrote off the associated intangible assets, as detailed below:


	Three Months Ended March 31, 2025
	(In thousands)
Developed technology	$	5,950
Customer relationships	259
Publisher relationships	6,426
Trade names	2,373
Content provider relationships	100
Impairment charge	$	15,108

No impairment charges were recorded for the Company’s intangible assets subject to amortization during the three months ended March 31, 2024.

As of March 31, 2025, estimated amortization related to the Company’s identifiable Acquisition-related intangible assets in future periods was as follows:


	Amount
	(In thousands)
Remainder of 2025	$	36,011
2026	48,015
2027	47,868
2028	47,817
2029	47,817
Thereafter	163,494
Total	$	391,022