v3.25.2
Goodwill and Intangible Assets (FY) (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Goodwill and Intangible Assets [Abstract]    
Schedule of Goodwill

The following table summarizes the changes to goodwill (in thousands):

 
 
 
 
 
 
 
Amount
Balance at January 1, 2025
 
 
$19,544
Addition
 
 
793,426
Balance at June 30, 2025
 
 
$812,970
 
 
 
 

The following table summarizes the changes to goodwill (in thousands):

 
 
 
 
 
 
 
Amount
Balance at January 1, 2023
 
 
$97
Addition from the acquisition of Conductor
 
 
19,447
Balance at December 31, 2023 and 2024
 
 
$19,544
 
 
 
 
Schedule of finite-lived intangible assets

Intangible assets, net consisted of the following (dollars in thousands):

 
 
 
 
 
 
 
 
 
 
June 30, 2025
 
 
December 31, 2024
 
 
 
Weighted-
Average
Remaining
Useful Lives
(in years)
 
 
Acquired
Intangibles,
Gross
 
 
Accumulated
Amortization
 
 
Acquired
Intangibles,
Net
 
 
Acquired
Intangibles,
Gross
 
 
Accumulated
Amortization
 
 
Acquired
Intangibles,
Net
Acquired technologies
 
 
5
 
 
$167,253
 
 
$(9,271)
 
 
$157,982
 
 
$5,453
 
 
$(3,611)
 
 
$1,842
Other(1)
 
 
10
 
 
49,697
 
 
(1,784)
 
 
47,913
 
 
3,897
 
 
(830)
 
 
3,067
Total
 
 
 
 
 
$216,950
 
 
$(11,055)
 
 
$205,895
 
 
$9,350
 
 
$(4,441)
 
 
$4,909
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1)
Included in Other are customer relationships and trade names.

Intangible assets, net consisted of the following (in thousands):

 
 
 
 
 
 
 
 
 
 
December 31, 2023
 
 
December 31, 2024
 
 
 
Acquired
Intangibles,
Gross
 
 
Accumulated
Amortization
 
 
Acquired
Intangibles,
Net
 
 
Acquired
Intangibles,
Gross
 
 
Accumulated
Amortization
 
 
Acquired
Intangibles,
Net
Acquired technologies
 
 
$5,453
 
 
$(1,600)
 
 
$3,853
 
 
$5,453
 
 
$(3,611)
 
 
$1,842
Other(1)
 
 
3,897
 
 
(747)
 
 
3,150
 
 
3,897
 
 
(830)
 
 
3,067
Total
 
 
$9,350
 
 
$(2,347)
 
 
$7,003
 
 
$9,350
 
 
$(4,441)
 
 
$4,909
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1)
Included in Other are customer relationships and trade names.
Finite-lived intangible assets amortization expense

As of June 30, 2025, the expected future amortization expense related to intangible assets was as follows (in thousands):

 
 
 
 
Years Ending December 31,
 
 
Amount
Remaining portion of 2025
 
 
$18,940
2026
 
 
36,264
2027
 
 
36,250
2028
 
 
36,082
2029
 
 
36,069
Thereafter
 
 
42,290
Total expected future amortization expense
 
 
$205,895
 
 
 
 

As of December 31, 2024, the expected future amortization expense related to intangible assets was as follows (in thousands):

 
 
 
 
Years Ending December 31,
 
 
Amount
2025
 
 
$2,058
2026
 
 
441
2027
 
 
427
2028
 
 
261
2029
 
 
246
Thereafter
 
 
1,476
Total expected future amortization expense
 
 
$4,909