Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill were as follows (in thousands):


	Goodwill
Balance at December 31, 2024	$	540,290
Acquisitions	88,675
Measurement period adjustments	18,915
Cumulative translation adjustment	1,196
Balance at September 30, 2025	$	649,076

For additional information on Goodwill, see Note 4—“Acquisitions.”

Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets.

Other intangible assets consisted of the following (in thousands, except weighted-average remaining life):


	September 30, 2025
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	395,671	$	132,961	$	262,710	11.5
Technology	86,097		27,102		58,995		9.5
Non-compete agreements	21,815		21,443		372		1.6
Patents	12,986		11,470		1,516		2.6
All other	38,012		8,735		29,277		10.5
Total definite life intangible assets	554,581		201,711		352,870
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,642		—		2,642		N/A
Domain name	454		—		454		N/A
Total indefinite life intangible assets	82,666		—		82,666		N/A
Total	$	637,247	$	201,711	$	435,536


	December 31, 2024
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	256,374	$	113,590	$	142,784	10.8
Technology	23,997		23,997		—		N/A
Non-compete agreements	21,815		20,621		1,194		1.5
Patents	12,577		11,102		1,475		2.7
All other	19,937		6,711		13,226		12.1
Total definite life intangible assets	334,700		176,021		158,679
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,207		—		2,207		N/A
Domain name	454		—		454		N/A
Total indefinite life intangible assets	82,231		—		82,231		N/A
Total	$	416,931	$	176,021	$	240,910

Intangible amortization expense was $10.3 million and $4.6 million for the three months ended September 30, 2025 and 2024, respectively. Intangible amortization expense was $25.6 million and $14.2 million for the nine months ended September 30, 2025 and 2024, respectively. Intangible amortization is included as part of “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations. There were no impairment charges for the Company’s definite and indefinite life intangibles for both the three and nine months ended September 30, 2025 and 2024.

The estimated future amortization expense of definite life intangible assets as of September 30, 2025 is as follows (in millions):


2025 (excluding the nine months ended September 30, 2025)	$	9.9
2026	39.0
2027	34.7
2028	33.9
2029	30.2
2030 and thereafter	205.2
Total	$	352.9