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INTANGIBLE ASSETS AND GOODWILL
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL INTANGIBLE ASSETS AND GOODWILL
Intangible assets
During the nine months ended September 30, 2025, the Company completed the acquisition of Novorender, which was accounted for as a business combination, as described above in Note 5. The Company also acquired another developed technology intangible asset for $4.9 million, which was accounted for as an asset acquisition with an estimated useful life of four years, and the amortization expense is recorded in cost of revenue on the accompanying condensed consolidated statements of operations and comprehensive loss.
The Company’s finite-lived and indefinite-lived intangible assets are summarized as follows (in thousands):
September 30, 2025
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life (Years)
Developed technology$212,451 $(120,442)$92,009 4.0
Customer relationships75,950 (53,681)22,269 6.4
Total finite-lived intangible assets
$288,401 $(174,123)$114,278 4.5
December 31, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life (Years)
Developed technology$185,947 $(95,216)$90,731 4.0
Customer relationships71,050 (43,683)27,367 4.9
Total finite-lived intangible assets
$256,997 $(138,899)$118,098 4.2
In-process research and development2,848 — 2,848 
Total intangible assets$259,845 $(138,899)$120,946 
The Company’s in-process research and development (“IPR&D”) intangible asset, which was acquired in 2023, was considered indefinite-lived and assessed annually for impairment. During the nine months ended September 30, 2025, the Company completed the development of the IPR&D intangible asset and reclassified it as a finite-lived intangible asset, which started to be amortized over its estimated useful life of two years.
The Company estimates that there is no significant residual value related to its finite-lived intangible assets. Amortization expense recorded on the Company’s finite-lived intangible assets is summarized as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Cost of revenue$7,659 $6,698 $23,276 $18,739 
Sales and marketing3,346 3,224 9,998 9,475 
Research and development661 668 1,951 2,008 
Total amortization of acquired intangible assets$11,666 $10,590 $35,225 $30,222 
Goodwill
The following table presents the changes in carrying amount of goodwill during the nine months ended September 30, 2025 (in thousands):
Beginning balance$549,651 
Additions23,706 
Other adjustments, net(1)
576 
Ending balance$573,933 
(1) Includes acquisition-related post-closing net working capital adjustments and the effect of foreign currency translation

The addition to goodwill was due to the acquisition of Novorender, as disclosed in Note 5 to these condensed consolidated financial statements. There was no impairment of goodwill during the periods presented.