GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of purchase consideration in a business combination over the fair value of tangible and intangible assets acquired net of the liabilities assumed. As of March 31, 2026 and December 31, 2025 the Company has $188.8 million of goodwill related to the Advertising segment and $120.6 million of goodwill related to the Subscriptions segment.

Intangible Assets

The following tables summarize the Company’s intangible assets for the periods presented (in thousands, except years):


	As of March 31, 2026
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Useful Lives (in years)
Developed technology	$	73,367	$	(71,584)	$	1,783	5.9
Customer relationships	46,100		(25,281)		20,819		6.3
Tradename	34,400		(13,032)		21,368		7.9
Patents	4,076		(1,844)		2,232		14.0
Total Intangible assets	$	157,943	$	(111,741)	$	46,202	6.7


	As of December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Useful Lives (in years)
Developed technology	$	73,367	$	(71,138)	$	2,229	5.9
Customer relationships	46,100		(22,995)		23,105		6.3
Tradename	34,400		(11,832)		22,568		7.9
Patents	4,076		(1,771)		2,305		14.0
Total Intangible assets	$	157,943	$	(107,736)	$	50,207	6.7

The Company amortizes the fair value of intangible assets over their estimated useful lives in proportion to the economic benefits received. Amortization expense related to intangible assets was approximately $4.0 million and $3.5 million for the three months ended March 31, 2026 and 2025, respectively.

The Company recorded amortization of developed technology in Cost of revenue, advertising, recorded amortization of customer relationships and tradename in Sales and marketing expenses, and recorded amortization of patents in General and administrative expenses in the condensed consolidated statements of operations for all periods presented.

As of March 31, 2026, the estimated future amortization expense for intangible assets for the next five years and thereafter is as follows (in thousands):


Year Ending December 31,
2026 (remaining 9 months)	$	10,693
2027	10,507
2028	8,419
2029	7,257
2030	4,884
Thereafter	4,442
Total	$	46,202