Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the three months ended March 31, 2026 were as follows (in thousands):


	Connected Devices		Software and Services		Total
Balance, beginning of period	$	51,249	$	1,318,940	$	1,370,189
Goodwill acquired	—		524,733		524,733
Purchase accounting adjustments	—		(82)		(82)
Foreign currency translation adjustments	(21)		(443)		(464)
Balance, end of period	$	51,228	$	1,843,148	$	1,894,376

Intangible assets (other than goodwill) consisted of the following at March 31, 2026 and December 31, 2025 (in thousands):


		March 31, 2026						December 31, 2025
	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable (definite-lived) intangible assets:
Developed technology	3 ‑ 8 years	$	262,122	$	(53,364)	$	208,758	$	183,122	$	(44,399)	$	138,723
Customer relationships	5 ‑ 10 years	68,289		(10,622)		57,667		41,329		(8,960)		32,369
Issued trademarks	3 ‑ 23 years	11,986		(4,566)		7,420		9,900		(3,856)		6,044
Issued patents	8 ‑ 26 years	3,009		(1,611)		1,398		3,017		(1,602)		1,415
Domain names	5 ‑ 10 years	4,568		(2,815)		1,753		3,043		(2,738)		305
Total amortizable		349,974		(72,978)		276,996		240,411		(61,555)		178,856
Non-amortizable (indefinite-lived) intangible assets:
In-process research and development (1)		16,600		—		16,600		16,600		—		16,600
Trademarks		1,068		—		1,068		1,068		—		1,068
Patents and trademarks pending		405		—		405		448		—		448
Total non-amortizable		18,073		—		18,073		18,116		—		18,116
Total intangible assets		$	368,047	$	(72,978)	$	295,069	$	258,527	$	(61,555)	$	196,972

(1)During the three months ended March 31, 2026, no in-process research and development costs were placed into service.

Amortization expense of intangible assets for the three months ended March 31, 2026 and 2025 was $11.5 million and $6.6 million, respectively. Estimated amortization for intangible assets with definite lives for the remaining nine months of 2026, the next five years ended December 31, and thereafter, is as follows (in thousands):


2026 remaining	$	40,339
2027	52,528
2028	50,296
2029	47,342
2030	35,733
2031	18,326
Thereafter	32,432
Total	$	276,996