Goodwill and other intangible assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets

Goodwill and other intangible assets

The change in the carrying amount of goodwill was as follows:

	Three Months Ended March 31,
	2025		2024
	(in thousands)
Goodwill, beginning of period	$	882,593	$	887,121
Foreign currency translation adjustment	8,457		(2,080)
Goodwill, end of period	$	891,050	$	885,041

The gross carrying amount and accumulated amortization of intangible assets other than goodwill were as follows:

	March 31, 2025
	Useful Life	Gross Carrying Value		Accumulated Amortization		Foreign Currency Translation		Net Carrying Value		Weighted-Average Remaining Useful Life
	(in thousands)
Trademarks	8 years	$	34,300	$	31,656	$	—	$	2,644	0.6 years
Customer relationships	5 - 12 years	257,308		147,815		(1,429)		108,064		5.0 years
Developed technology	5 - 6.5 years	75,487		42,902		(4,335)		28,250		2.7 years
Non-competes	3 years	1,349		1,079		—		270		0.6 years
Intellectual property	5 years	270		52		—		218		4.0 years
Total intangible assets		$	368,714	$	223,504	$	(5,764)	$	139,446

	December 31, 2024
	Useful Life	Gross Carrying Value		Accumulated Amortization		Foreign Currency Translation		Net Carrying Value		Weighted-Average Remaining Useful Life
	(in thousands)
Trademarks	8 years	$	34,300	$	30,584	$	—	$	3,716	0.8 years
Customer relationships	5 - 12 years	257,308		142,131		(1,993)		113,184		5.3 years
Developed technology	5 - 6.5 years	75,487		39,826		(5,352)		30,309		3.0 years
Non-competes	3 years	1,349		967		—		382		0.8 years
Intellectual property	5 years	270		38		—		232		4.3 years
Total intangible assets		$	368,714	$	213,546	$	(7,345)	$	147,823

Amortization expense was $9.7 million and $10.2 million for the three months ended March 31, 2025 and 2024, respectively.

There were no impairments to goodwill or intangible assets during the three months ended March 31, 2025 and 2024.