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Intangible Assets, Net | 6 Months Ended
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Jun. 30, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible Assets, Net | 9. INTANGIBLE ASSETS, NET Intangible assets, net as of June 30, 2025, and December 31, 2024, consisted of the following:
|  |  |  | As of June 30, 2025 |  |  | As of December 31, 2024 |
(In thousands excluding years) | 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 |  |  | $ | 56,396 |  |  | $ | (22,927 | ) |  | $ | 33,469 |  |  | $ | 51,165 |  |  | $ | (18,778 | ) |  | $ | 32,387 |
Backlog |  | 1.7 |  |  |  | 61,298 |  |  |  | (61,163 | ) |  |  | 135 |  |  |  | 53,839 |  |  |  | (52,258 | ) |  |  | 1,581 |
Developed technology |  | 7.8 |  |  |  | 413,360 |  |  |  | (139,457 | ) |  |  | 273,903 |  |  |  | 346,923 |  |  |  | (99,588 | ) |  |  | 247,335 |
Licensed technology |  | 9.0 |  |  |  | 5,900 |  |  |  | (4,780 | ) |  |  | 1,120 |  |  |  | 5,900 |  |  |  | (4,452 | ) |  |  | 1,448 |
Licensed agreements |  | 8.5 |  |  |  | 560 |  |  |  | (427 | ) |  |  | 133 |  |  |  | 560 |  |  |  | (407 | ) |  |  | 153 |
Trade names |  | 2.8 |  |  |  | 31,710 |  |  |  | (30,301 | ) |  |  | 1,409 |  |  |  | 27,851 |  |  |  | (25,862 | ) |  |  | 1,989 |
Total |  |  |  | $ | 569,224 |  |  | $ | (259,055 | ) |  | $ | 310,169 |  |  | $ | 486,238 |  |  | $ | (201,345 | ) |  | $ | 284,893 |
No impairment losses related to intangible assets were recorded during the three and six months ended June 30, 2025 and 2024. Amortization expense was $15.7 million and $15.3 million in the three months ended June 30, 2025 and 2024, respectively, and $30.6 million and $30.4 million in the six months ended June 30, 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) |  | June 30, 2025 |
2025 |  | $ | 32,368 |
2026 |  |  | 64,772 |
2027 |  |  | 59,150 |
2028 |  |  | 49,561 |
2029 |  |  | 46,025 |
Thereafter |  |  | 58,293 |
Total |  | $ | 310,169 |

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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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