Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

The changes in the carrying amount of goodwill for the nine months ended September 30, 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	4,581		524,733		529,314
Purchase accounting adjustments	(23)		(13,223)		(13,246)
Foreign currency translation adjustments	(170)		(739)		(909)
Balance, end of period	$	55,637	$	1,829,711	$	1,885,348

Intangible assets (other than goodwill) consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):


		September 30, 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	$	(73,940)	$	188,182	$	183,122	$	(44,399)	$	138,723
Customer relationships	5 ‑ 10 years	68,193		(14,875)		53,318		41,329		(8,960)		32,369
Issued trademarks	3 ‑ 23 years	11,984		(6,187)		5,797		9,900		(3,856)		6,044
Issued patents	8 ‑ 26 years	3,021		(1,642)		1,379		3,017		(1,602)		1,415
Domain names	5 ‑ 10 years	5,022		(3,120)		1,902		3,043		(2,738)		305
Total amortizable		350,342		(99,764)		250,578		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		571		—		571		448		—		448
Total non-amortizable		18,239		—		18,239		18,116		—		18,116
Total intangible assets		$	368,581	$	(99,764)	$	268,817	$	258,527	$	(61,555)	$	196,972

(1)During the nine months ended September 30, 2026, no in-process research and development costs were placed into service. During the nine months ended September 30, 2025, approximately $15.3 million had been placed into service.

Amortization expense of intangible assets for the three and nine months ended September 30, 2026 was $13.4 million and $38.4 million, respectively. Amortization expense of intangible assets for the three and nine months ended September 30, 2025 was $6.9 million and $20.2 million, respectively. Estimated amortization for intangible assets with definite lives for the remaining three months of 2026, the next five years ended December 31, and thereafter, is as follows (in thousands):


2026 remaining	$	13,445
2027	52,567
2028	50,334
2029	47,381
2030	35,772
2031	18,386
Thereafter	32,693
Total	$	250,578