Intangible Assets

3 Months Ended

Mar. 31, 2026

Intangible Assets, Net (Excluding Goodwill) [Abstract]

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


	March 31, 2026						December 31, 2025
In thousands	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Intangible Assets
Core-developed technology	$	79,620	$	(35,548)	$	44,072	$	54,168	$	(32,993)	$	21,175
Customer contracts and relationships	535,699		(304,737)		230,962		359,837		(299,893)		59,944
Trademarks and trade names	28,074		(25,970)		2,104		28,076		(25,858)		2,218



Total intangible assets	$	643,393	$	(366,255)	$	277,138	$	442,081	$	(358,744)	$	83,337

On January 5, 2026, we completed the acquisition of 100% of the outstanding equity of Locusview, Ltd. and subsidiaries (collectively, Locusview) a privately held utility-focused software and services company that is based in the United States and Israel. The purchase resulted in the addition of intangible assets of $204.5 million including $179.0 million identified customer contracts and relationships and $25.5 million of core-developed technology. The customer contracts and relationships and core-developed technology will be amortized over the ten-year and five-year useful lives, respectively, using the straight-line method. Refer to Note 5: Goodwill and Note 16: Business Combinations for additional information.

Estimated future annual amortization is as follows:


Year Ending December 31,	Estimated Annual Amortization
In thousands
2026 (amount remaining at March 31, 2026)	$	31,457
2027	38,623
2028	33,031
2029	30,926
2030	30,001
Thereafter	113,100
Total intangible assets subject to amortization	$	277,138



Amortization Expense	Three Months Ended March 31,
In thousands		2026		2025
Amortization Expense		$	10,667	$	4,479

We recognize all amortization expense within amortization of intangible assets in the Consolidated Statements of Operations, except core-developed technology, which is included in cost of revenues. These expenses relate to intangible assets acquired as part of business combinations.