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Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible Assets | 9. INTANGIBLE ASSETS Intangible assets as of March 31, 2025 and December 31, 2024, consisted of the following:
|  |  |  | As of March 31, 2025 |  |  | As of December 31, 2024 |
(In thousands) | Weighted Average Useful Life (in years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Customer relationships |  | 11.0 |  |  | $ | 52,849 |  |  | $ | (20,509 | ) |  | $ | 32,340 |  |  | $ | 51,165 |  |  | $ | (18,778 | ) |  | $ | 32,387 |
Backlog |  | 1.7 |  |  |  | 56,242 |  |  |  | (55,262 | ) |  |  | 980 |  |  |  | 53,839 |  |  |  | (52,258 | ) |  |  | 1,581 |
Developed technology |  | 7.7 |  |  |  | 372,948 |  |  |  | (116,133 | ) |  |  | 256,815 |  |  |  | 346,923 |  |  |  | (99,588 | ) |  |  | 247,335 |
Licensed technology |  | 9.0 |  |  |  | 5,900 |  |  |  | (4,616 | ) |  |  | 1,284 |  |  |  | 5,900 |  |  |  | (4,452 | ) |  |  | 1,448 |
Licensed agreements |  | 8.5 |  |  |  | 560 |  |  |  | (417 | ) |  |  | 143 |  |  |  | 560 |  |  |  | (407 | ) |  |  | 153 |
Trade names |  | 3.0 |  |  |  | 29,094 |  |  |  | (27,592 | ) |  |  | 1,502 |  |  |  | 27,851 |  |  |  | (25,862 | ) |  |  | 1,989 |
Total |  |  |  | $ | 517,593 |  |  | $ | (224,529 | ) |  | $ | 293,064 |  |  | $ | 486,238 |  |  | $ | (201,345 | ) |  | $ | 284,893 |
No impairment losses of intangible assets were recorded during the three months ended March 31, 2025 and 2024. Amortization expense was $14.9 million and $14.6 million in the three months ended March 31, 2025 and 2024, respectively, and was included in cost of revenue, selling, general and administrative expenses and research and development expenses in the Condensed Consolidated Statements of Loss. Estimated future amortization expense of intangible assets is as follows:
|  | As of |
(In thousands) |  | March 31, 2025 |
2025 |  | $ | 44,939 |
2026 |  |  | 58,284 |
2027 |  |  | 52,352 |
2028 |  |  | 43,429 |
2029 |  |  | 42,170 |
Thereafter |  |  | 51,890 |
Total |  | $ | 293,064 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
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