XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.3
INTANGIBLE ASSETS, NET
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET INTANGIBLE ASSETS, NET
Table 8.1: Details of Intangible Assets, Net
September 30, 2025December 31, 2024
Estimated Useful LifeGross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
(in years)(in thousands)
Acquired technology8$3,630 $(1,891)$1,739 $3,630 $(1,550)$2,080 
Customer relationship340 (40)— 40 (40)— 
Software development costs
2 - 5
39,888 (21,060)18,828 27,366 (15,761)11,605 
Subtotal43,558 (22,991)20,567 31,036 (17,351)13,685 
In-process software development costs (1)
10,679 — 10,679 16,725 — 16,725 
Total$54,237 $(22,991)$31,246 $47,761 $(17,351)$30,410 
(1) In-process software development costs are costs for software that is not yet available for its intended use or general release to customers as of balance sheet date, thus not yet amortized.
The Company evaluates its intangible assets for potential impairment whenever there is evidence that events or changes in circumstances indicate that the carrying value may not be recoverable.
During the third quarter of 2024, there were selected capitalized software projects for which the Company decided to discontinue the development and/or sale of all or a part of certain solutions and certain projects that the Company ceased use before the end of its useful life. As a result of the Company's decision to abandon the associated software, the Company wrote-off $11.7 million of the previously capitalized software costs, of which $5.3 million was recorded as "Impairment loss on intangible assets" under cost of sales and $6.4 million was recorded as "Impairment loss on intangible assets" under operating expenses in the Company's unaudited statement of operations for the three and nine months ended September 30, 2024.
For the three and nine months ended September 30, 2025, there were no impairment losses recorded on the Company's software development costs. Likewise, no impairment losses were recorded on other intangible assets during the three and nine months ended September 30, 2025, and 2024.
Table 8.2: Amortization Expense
For the Three Months EndedFor the Nine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
(in thousands)
Amortization expense related to:
Software development costs – cost of sales (1)
$2,265 $1,402 $5,299 $4,509 
Software development costs – research and development— 588 — 2,286 
Other intangible assets – general and administrative113 115 340 348 
Total$2,378 $2,105 $5,639 $7,143 
(1) Amortization expense for software development costs related to assets to be sold, leased, or otherwise marketed is charged under cost of sales on the unaudited consolidated statements of operations.