Identifiable Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Components of Identifiable Intangible Assets

The components of identifiable intangible assets are:

(in thousands)	March 31, 2025		December 31, 2024		Estimated Useful Life	Weighted-Average Amortization Period
Acquired developed technology	$	183,840	$	181,600	3 - 7 years	4.16 years
Internally developed software costs	44,185		42,353		3 years	2.87 years
Customer relationships	119,046		115,910		5 - 15 years	8.80 years
Trade names	3,210		3,210		2 - 8 years	7.33 years
Non-competition agreements	7,230		7,230		1 - 5 years	4 years
	357,511		350,303
Impact of currency translation on intangible assets	(3,758)		(5,557)
Less: accumulated amortization	(131,531)		(119,900)
	222,222		224,846
Internally developed software costs not meeting general release threshold	635		1,287
Trademarks, trade names (non-amortizable)	11,200		11,200		Indefinite
	$	234,057	$	237,333

Schedule of Amortization Expense

The following table summarizes amortization expense for acquired developed technology and internally developed software:

	Three Months Ended March 31,
(in thousands)	2025		2024
Amortization of acquired developed technology	$	6,209	$	4,235
Amortization of internally developed software	1,430		1,231
Amortization of identifiable intangible assets recorded in cost of sales	$	7,639	$	5,466
Amortization expense recorded in operating expenses	3,259		932
Impact of foreign currency translation on intangible assets	733		639

Schedule of Expected Future Amortization of Intangible Assets

The expected future amortization of intangible assets, assuming straight-line amortization of capitalized software development costs and acquisition related intangibles, excluding software development costs not meeting the general release threshold is:

(in thousands)
2025, remaining	$	33,079
2026	42,244
2027	37,757
2028	25,961
2029	18,947
Thereafter	64,234
Total	$	222,222

Schedule of Goodwill

Goodwill carried is as follows:

(in thousands)	2025		2024
Beginning balance - January 1	$	887,459	$	488,918
Stuzo Acquisition	—		132,140
Foreign currency translation	2,909		(2,162)
Delaget Acquisition ASC 805 measurement period adjustment	125		—
Ending balance - March 31	$	890,493	$	618,896