Intangible Assets, net
The following table reflects the changes in the net carrying amounts of the Company’s intangible assets for the year ended December 31, 2025. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Balance at December 31, 2024 | | Assets Acquired Pursuant to Business Combination | | Impairment Charges | | Amortization Expense | | Balance at December 31, 2025 |
| Developed technology | | $ | 5,084 | | | $ | — | | | $ | — | | | $ | 792 | | | $ | 4,292 | |
| | $ | 5,084 | | | $ | — | | | $ | — | | | $ | 792 | | | $ | 4,292 | |
The following table reflects the changes in the net carrying amounts of the Company’s finite-lived intangible assets for the year ended December 31, 2024. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Balance at December 31, 2023 | | Assets Acquired Pursuant to Business Combination | | Impairment Charges | | Amortization Expense | | Balance at December 31, 2024 |
| Developed technology | | $ | 5,876 | | | $ | — | | | $ | — | | | $ | 792 | | | $ | 5,084 | |
| | $ | 5,876 | | | $ | — | | | $ | — | | | $ | 792 | | | $ | 5,084 | |
The following table reflects the carrying amounts of the Company's finite-lived intangible assets at December 31, 2025 and 2024. | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | December 31, 2025 | | December 31, 2024 |
| | Gross Carrying Amount | | Accumulated Amortization | | Gross Carrying Amount | | Accumulated Amortization |
| Developed technology | | $ | 10,300 | | | $ | (6,008) | | | $ | 10,300 | | | (5,216) | |
| | $ | 10,300 | | | $ | (6,008) | | | $ | 10,300 | | | $ | (5,216) | |
The Company uses the straight-line method to determine the amortization expense for its definite-lived intangible assets. The weighted-average remaining useful life for the intangible assets is 5.4 years. Amortization expense related to the purchased intangible assets was $792, $792 and $793 for the year ended December 31, 2025, 2024, and 2023, respectively.
The table below reflects the future estimated amortization expense for amortizable intangible assets as of December 31, 2025. | | | | | |
| Year ending December 31, | |
| 2026 | $ | 792 | |
| 2027 | 792 | |
| 2028 | 792 | |
| 2029 | 792 | |
| 2030 | 792 | |
| Thereafter | 332 | |
Total | $ | 4,292 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.