Intangible Assets, Net

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net consist of the following:


	June 30, 2025									December 31, 2024
	Weighted Average Remaining Useful Life		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Useful Life		Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
Developed technology		5.8	$	129,494	$	(43,431	)	$	86,063		5.8	$	121,893		$	(33,609	)	$	88,284
Software licenses		2.2		20,423		(9,674	)	$	10,749		2.8		23,706			(6,243	)	$	17,463
Customer relationships		7.5		43,159		(11,943	)	$	31,216		7.6		43,159			(9,118	)	$	34,041
Intellectual property licenses		0.3		1,953		(1,736	)	$	217		0.8		1,947			(1,736	)	$	211
Trade names		4.6		26,301		(9,742	)	$	16,559		4.9		26,301			(7,496	)	$	18,805
Backlog		0.3		2,296		(2,234	)	$	62		0.6		2,296			(1,683	)	$	613
Effect of exchange rate on gross carrying amount				3,612		—		$	3,612				(6,662	)		—		$	(6,662	)
Intangible assets with finite lives				227,238		(78,760	)		148,478				212,640			(59,885	)		152,755
IPR&D				49,790		—		$	49,790				57,390			—		$	57,390
Effect of exchange rate on gross carrying amount				272		—		$	272				(1,201	)		—		$	(1,201	)
Total intangible assets with indefinite lives				50,062		—			50,062				56,189			—			56,189
Total intangible assets			$	277,300	$	(78,760	)	$	198,540			$	268,829		$	(59,885	)	$	208,944

Intangible assets with finite lives are amortized on a straight-line basis over the expected period to be benefited by future cash flows. The Company monitors and assesses the above intangible assets for impairment on a periodic basis. For the three and six months ended June 30, 2025, the Company recorded $3,260 of impairment charges related to certain software licenses as part of its 2025 Restructuring Plan (see Note 2 - 2025 Restructuring Costs). For the three and six months ended June 30, 2024, the Company determined that there were no impairment of intangible assets.

Amortization of intangible assets for the three months ended June 30, 2025 and 2024 was $8,089 and $8,226, respectively. Amortization of intangible assets for the six months ended June 30, 2025 and 2024 was $15,864 and $16,292, respectively. Amortization of intangible assets is included within Cost of goods sold, Research and development expenses, and Selling, general and administrative expenses based on their respective nature, in the condensed consolidated statements of operations.

Based on the amount of definite-lived intangible assets subject to amortization as of June 30, 2025, amortization expense for each of the next five fiscal years is expected to be as follows:


2025 (remaining 6 months)	$	15,919
2026		29,680
2027		24,141
2028		21,107
2029		19,418
Thereafter		38,213
Total	$	148,478