v3.25.2
Intangible assets, net (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Summary of Acquired Finite-Lived Intangible Assets
The useful life of the Company’s finite-lived acquired intangible assets is as follows:
 
Table 5.1. Acquired Intangible Assets Useful Life
Acquired intangible assets
  
Useful life

(years)
Developed technology
  
2
 ~ 
6
Customer relationships
  
2
~
4
Regulatory licenses
  
5
Patents and trade name
  
1
 ~ 
17
 
Summary of Details of Intangible Assets, net
Intangible assets consists of the following (in thousands):
 
Table 5.2. Details of Intangible Assets, net
 
As of June 30, 2025
  
Gross
carrying
amount
 
  
Accumulated
amortization
 
  
Intangible
assets, net
 
  
Weighted
average
remaining
useful life
(in years)
 
Amortizing intangible assets:
  
  
  
  
Internally developed software
  
$
234,744
 
  
$
(119,232
) 
  
$
115,512
 
  
 
1.7
 
Acquired intangible assets
  
 
36,053
 
  
 
(21,000
) 
  
 
15,053
 
  
 
4.6
 
  
 
 
 
  
 
 
 
  
 
 
 
  
Total amortizing intangible assets
  
$
270,797
 
  
$
(140,232
) 
  
$
130,565
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Indefinite-lived intangible assets:
  
  
  
  
Acquired intangible assets
  
 
266,404
 
  
 
— 
 
  
 
266,404
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Total intangible assets, net
  
$
537,201
 
  
$
(140,232
) 
  
$
396,969
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
 
As of December 31, 2024
  
Gross
carrying
amount
 
  
Accumulated
amortization
 
  
Intangible
assets, net
 
  
Weighted
average
remaining
useful life
(in years)
 
Amortizing intangible assets
  
  
  
  
Internally developed software
  
$
146,579
 
  
$
(94,646
) 
  
$
51,933
 
  
 
1.4
 
Acquired intangible assets
  
 
31,373
 
  
 
(18,316
) 
  
 
13,057
 
  
 
5.8
 
  
 
 
 
  
 
 
 
  
 
 
 
  
Total amortizing intangible assets
  
$
177,952
 
  
$
(112,962
) 
  
$
64,990
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Indefinite-lived intangible assets:
  
  
  
  
Acquired intangible assets
  
 
266,404
 
  
 
— 
 
  
 
266,404
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Total intangible assets, net
  
$
444,356
 
  
$
(112,962
) 
  
$
331,394
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Intangible assets consists of the following (in thousands):
Table 6.1. Details of Intangible Assets, net
 
As of December 31, 2024
  
Gross
carrying
amount
 
  
Accumulated
amortization
 
  
Intangible
assets, net
 
  
Weighted
average
remaining
useful life
(in years)
 
Amortizing intangible assets:
  
  
  
  
Internally developed software
  
$
146,579
 
  
$
(94,646
) 
  
$
51,933
 
  
 
1.4
 
Acquired intangible assets
  
$
31,373
 
  
$
(18,316
) 
  
$
13,057
 
  
 
5.8
 
Total amortizing intangible assets
  
$
177,952
 
  
$
(112,962
) 
  
$
64,990
 
  
Indefinite-lived intangible assets:
  
  
  
  
Acquired intangible assets
  
$
266,404
 
  
$
— 
 
  
$
266,404
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Total intangible assets, net
  
$
444,356
 
  
$
(112,962
) 
  
$
331,394
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
 
As of December 31, 2023
  
Gross
carrying
amount
 
  
Accumulated
amortization
 
  
Intangible
assets, net
 
  
Weighted
average
remaining
useful life
(in years)
 
Amortizing intangible assets:
  
  
  
  
Internally developed software
  
$
95,838
 
  
$
(52,710
) 
  
$
43,128
 
  
 
1.5
 
Acquired intangible assets
  
 
29,250
 
  
 
(11,351
) 
  
 
17,899
 
  
 
3.9
 
Total amortizing intangible assets
  
$
125,088
 
  
$
(64,061
) 
  
$
61,027
 
  
Indefinite-lived intangible assets:
  
  
  
  
Acquired intangible assets
  
 
266,354
 
  
 
— 
 
  
 
266,354
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Total intangible assets, net
  
$
391,442
 
  
$
(64,061
) 
  
$
327,381
 
  
  
 
 
 
  
 
 
 
  
 
 
 
  
Summary of Future Amortization Expense of Intangible Assets
The expected future amortization expense for amortizing intangible assets is as follows (in thousands):
 
Table 5.3. Future Amortization Expense of Intangible Assets
 
 
  
Years ending
December 31,
 
2025 (remaining 6 months)
  
$
40,820
 
2026
  
 
63,351
 
2027
  
 
22,530
 
2028
  
 
1,774
 
2029
  
 
384
 
Thereafter
  
 
1,706
 
  
 
 
 
Total amortization expense
  
$
130,565
 
  
 
 
 
The expected future amortization expense for amortizing intangible assets is as follows (in thousands):
Table 6.2. Future Amortization Expense of Intangible Assets
 
Years ending December 31,
  
 
 
2025
  
$
41,219
 
2026
  
 
16,987
 
2027
  
 
2,919
 
2028
  
 
1,774
 
2029
  
 
384
 
Thereafter
  
 
1,707
 
  
 
 
 
Total amortization expense
  
$
64,990