Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

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. During the three months ended March 31, 2026, the Company recorded a measurement period adjustment to reduce goodwill and purchase consideration by $0.2 million.

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 determined that no events occurred or circumstances changed during the reporting periods ended March 31, 2026 and December 31, 2025 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:


			March 31,		December 31,
	Useful Life		2026		2025
	(in thousands)
Developed technology	15 years	$	335,300	$	335,300
Customer-relationships	3-10 years		12,795		12,795
License and trademarks	6-10 years		31,274		30,500
Total			379,369		378,595
Less: Accumulated amortization			(12,007)		(4,882)
Total Intangible Assets, net		$	367,362	$	373,713

Intangible assets are amortized assuming no expected residual value. Amortization expense related to intangible assets was $7.1 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively.

The estimated future aggregate amortization expense as of March 31, 2026 is as follows:


(in thousands)
Year ending December 31:
2026 (remaining 9 months)	$	21,477
2027	28,636
2028	28,613
2029	28,336
2030	28,336
2031 and thereafter	231,964
Total	$	367,362