Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets

Goodwill and Intangible Assets

6.    Goodwill and Intangible Assets

Goodwill

On December 4, 2025, upon the acquisition of Foresight Diagnostics the Company recorded $141.1 million of goodwill. See Note 3, Business Combination, for additional information. There were no measurement period adjustments recorded to the carrying value of goodwill during the year ended December 31, 2025.

The Company determined that no events occurred or circumstances changed that would indicate that it is more likely than not that the fair value of its reporting unit is less than its carrying amount during the year ended December 31, 2025. However, if certain events occur or circumstances change, it may be necessary to record impairment charges in the future.

Intangible Assets

The Company’s intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives, which range from 3 to 15 years. Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company has no indefinite-lived intangible assets. The Company determined that no events occurred or circumstances changed during the reporting periods ended December 31, 2025 and 2024 that would indicate that its intangible assets with finite lives may not be recoverable. However, if certain events occur or circumstances change, it may be necessary to record impairment charges in the future.

Intangible assets are comprised of the following:

		December 31,
	Useful Life		2025		2024
			(in thousands)
Developed technology	15 years		$	335,300	$	—
Customer-relationships	3-10 years			12,795		11,895
License and trademarks	6-10 years			30,500		—
Total				378,595		11,895
Less: Accumulated amortization				(4,882)		(962)
Total Intangible Assets, net			$	373,713	$	10,933

Intangible assets are amortized assuming no expected residual value. Amortization expense related to intangible assets was $3.9 million, $1.0 million, and none for the years ended December 31, 2025, 2024, and 2023, respectively.

The estimated future aggregate amortization expense as of December 31, 2025 is as follows:

	(in thousands)
Year ending December 31:
2026	$	28,666
2027		28,666
2028		28,644
2029		28,366
2030		28,366
2031 and thereafter		231,005
Total		373,713