Intangible Assets, Net

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net consist of the following:


	March 31, 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	5.6	$	121,893	$	(37,860)	$	84,033	5.8	$	121,893	$	(33,609)	$	88,284
Software licenses	2.3	23,700		(7,958)		15,742		2.8	23,706		(6,243)		17,463
Customer relationships	7.4	43,159		(10,285)		32,874		7.6	43,159		(9,118)		34,041
Intellectual property licenses	—	1,961		(1,736)		225		0.8	1,947		(1,736)		211
Trade names	4.7	26,301		(8,442)		17,859		4.9	26,301		(7,496)		18,805
Backlog	0.5	2,296		(1,929)		367		0.6	2,296		(1,683)		613
Effect of exchange rate on gross carrying amount		(4,793)		—		(4,793)			(6,662)		—		(6,662)
Intangible assets with finite lives		214,517		(68,210)		146,307			212,640		(59,885)		152,755

IPR&D		57,390		—		57,390			57,390		—		57,390
Effect of exchange rate on gross carrying amount		(559)		—		(559)			(1,201)		—		(1,201)
Total intangible assets with indefinite lives		56,831		—		56,831			56,189		—		56,189

Total intangible assets		$	271,348	$	(68,210)	$	203,138		$	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 these assets for impairment on a periodic basis. For the three months ended March 31, 2025 and 2024, the Company determined that there were no impairment of intangible assets.

Amortization of intangible assets for the three months ended March 31, 2025 and 2024 was $7,775 and $8,066, respectively, and 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 March 31, 2025, amortization expense for each of the next five fiscal years is expected to be as follows:


2025 (remaining 9 months)	$	23,611
2026	29,427
2027	23,288
2028	19,436
2029	17,856
Thereafter	32,689
Total	$	146,307