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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets, Net Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of net identifiable assets acquired in a business combination. The Company evaluates goodwill for impairment on an annual basis, and more frequently whenever events or substantive changes in circumstances indicate that it is more likely than not that the carrying value of a reporting unit exceeds its fair value. Assumptions used in an impairment test require significant judgment, therefore, they are subject to change based on facts and circumstances present at each date goodwill is evaluated for impairment. There were no impairments of goodwill during the three months ended March 31, 2026 and 2025. If, in future periods, the financial performance of the reporting unit does not meet expectations, or a prolonged decline occurs in the market place of our common stock, it may cause a material change in the results of the impairment assessment and result in future impairment to goodwill. The changes in the carrying amount of goodwill for the three months ended March 31, 2026 are as follows:
| Goodwill, net
| (In thousands)
Balance as of December 31, 2025 (1) | $ | 184,902 |
Foreign exchange adjustment | (362) |
Balance as of March 31, 2026 (1) | $ | 184,540 |
(1) As of March 31, 2026 and December 31, 2025, accumulated impairment losses totaled $114.0 million. Intangible Assets, Net - Patents Legal costs incurred to establish patents are capitalized. When patents are issued, capitalized costs are amortized on the straight-line method over the related patent term. We review our patent portfolio on a periodic basis to determine whether events and circumstances would indicate impairment. In the event a patent is abandoned, the net book value of the patent is written off. The changes in the carrying amount of intangible assets are as follows:
| March 31, |  | December 31,
| 2026 |  | 2025
| (In thousands)
Patents: |  |  |
Gross carrying amount | $ | 13,669 |  |  | $ | 16,639 |
Accumulated amortization | (167) |  |  | (3,230) |
Net carrying amount | $ | 13,502 |  |  | $ | 13,409 |
Weighted average amortization period | 10.8 years |  | 11.0 years
Amortization expense is recognized over the estimated useful life of the asset. Aggregate amortization expense for intangible assets was $0.2 million for the three months ended March 31, 2026 and March 31, 2025. There were no impairments of intangible assets during the three months ended March 31, 2026 and 2025. As of March 31, 2026, estimated annual amortization expense for the next five years and thereafter is as follows:
| Estimated Amortization Expense
| (In thousands)
Remainder of 2026 | $ | 487 |
2027 | 618 |
2028 | 611 |
2029 | 595 |
2030 | 573 |
Thereafter | 10,618 |
Total | $ | 13,502 |

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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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