Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The change in the carrying value of goodwill for the three months ended March 31, 2026, categorized by reportable segment, is as follows (in thousands):

	Clear Aligner		Systems and Services		Total
Balance as of December 31, 2025	$	164,255	$	327,578	$	491,833
Additions from acquisition1	—		18,592		18,592
Foreign currency translation adjustments	(1,615)		(5,769)		(7,384)
Balance as of March 31, 2026	$	162,640	$	340,401	$	503,041

1 We recorded $18.6 million of goodwill within the Systems and Services segment for an immaterial acquisition that was completed in the first quarter of 2026. The amount recorded is based on preliminary estimates of the fair values of assets acquired and liabilities assumed and is subject to adjustment during the measurement period.

Intangible Assets

Acquired intangible assets, excluding intangibles that were fully amortized, are as follows (in thousands): 

	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of March 31, 2026		Accumulated Amortization		Net Carrying Value as of March 31, 2026
Existing technology	11	$	146,651	$	(70,849)	$	75,802
Customer relationships	10	21,500		(12,900)		8,600
Trademarks and tradenames	7	9,800		(8,400)		1,400
Patents	12	480		(330)		150
Total finite-lived intangible assets		178,431		$	(92,479)	85,952
In-process research and development1		12,554				12,554
Foreign currency translation adjustments						2,312
Total intangible assets, net						$	100,818

1 In connection with the immaterial acquisition completed during the first quarter of 2026, the Company recorded $12.6 million in acquired in-process research and development within the Systems and Services segment.

	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2025		Accumulated Amortization		Net Carrying Value as of December 31, 2025
Existing technology	11	$	146,651	$	(67,138)	$	79,513
Customer relationships	10	21,500		(12,363)		9,137
Trademarks and tradenames1	7	9,800		(8,050)		1,750
Patents	12	480		(320)		160
		$	178,431	$	(87,871)	90,560
Foreign currency translation adjustments						3,373
Total intangible assets, net						$	93,933

1 The weighted average amortization period decreased from 10 years to 7 years due to an intangible asset with a useful life of 15 years becoming fully amortized during the first quarter of 2025.

The total estimated future amortization expense for the acquired finite-lived intangible assets as of March 31, 2026 is as follows (in thousands):

Fiscal Year Ending December 31,	Amortization
Remainder of 2026	$	13,314
2027	15,607
2028	14,505
2029	14,505
2030	6,328
2031	3,615
Thereafter	18,078
Total	$	85,952

Amortization expense for the three months ended March 31, 2026 and 2025 was $4.8 million and $4.6 million, respectively.