Intangible Assets, Net

6 Months Ended

Jun. 30, 2025

Intangible Assets, Net (Excluding Goodwill) [Abstract]

3. Intangible assets, net

Intangible assets other than goodwill consist of the following:


		June 30, 2025							December 31, 2024
(In thousands)	Amortization period	Gross amount		Accumulated amortization			Net		Gross amount		Accumulated amortization			Net
Software developed for internal use	5-10 years	$	79,737	$	(43,424	)	$	36,313	$	74,409	$	(38,412	)	$	35,997
Acquired intangible assets	10 years		1,447		(83	)		1,364		-		-			-
Total		$	81,184	$	(43,507	)	$	37,677	$	74,409	$	(38,412	)	$	35,997

The gross carrying amount of software developed for internal use includes capitalized costs related to the design, development, and testing of internal-use software. These costs primarily consist of eligible personnel-related expenses, share-based compensation, travel expenses, and other directly attributable costs incurred during the application development stage. The gross carrying amount of acquired intangible assets reflects the acquisition cost of certain data assets for which the Company has obtained perpetual usage rights.

Amortization expenses of $2,595 and $2,322 for the three months ended June 30, 2025 and 2024, respectively, and $5,095 and $4,536 for the six months ended June 30, 2025 and 2024, respectively, were included in depreciation and amortization expense. As of June 30, 2025, intangible assets of $3,766, included in the gross carrying amounts of software developed for internal use, have not yet commenced amortization, as they are not ready for their intended use.

The Company capitalized intangible asset costs of $2,784 and $2,847 during the three months ended June 30, 2025 and 2024, respectively, and $6,775 and $5,620 during the six months ended June 30, 2025 and 2024, respectively.

As of June 30, 2025, estimated amortization expense related to the Company’s intangible assets for the remainder of 2025 through 2030 and thereafter are as follows:


(In thousands)
Year	June 30, 2025
Remainder of 2025		5,345
2026		9,807
2027		8,192
2028		5,759
2029		3,797
2030 and thereafter		4,777
Total	$	37,677