| Goodwill and Intangible Assets |
5. Goodwill and Intangible Assets The changes in the carrying value of the Company’s goodwill balance were as follows: | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | | (In thousands) | | Goodwill, opening balance | $ | 63,063 | | | $ | 63,063 | | | Acquisition of Teads | 502,582 | | | — | | | Foreign currency translation | 67,315 | | | — | | | Goodwill, closing balance | $ | 632,960 | | | $ | 63,063 | |
The Company has not recorded any impairments and has no accumulated impairments of goodwill. The gross carrying amount and accumulated amortization of the Company’s intangible assets are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2025 | | Weighted Average Amortization
Period | | Gross Value | | Accumulated Amortization | | Net Carrying Value | | | | (In thousands) | | Developed technology | 5.0 years | | $ | 91,676 | | | $ | (19,385) | | | $ | 72,291 | | | Customer relationships | 10.3 years | | 264,402 | | | (23,214) | | | 241,188 | | | Publisher relationships | 8.0 years | | 64,618 | | | (13,315) | | | 51,303 | | | Trade names | 11.0 years | | 27,472 | | | (2,943) | | | 24,529 | | | Other | 15.8 years | | 906 | | | (356) | | | 550 | | | Total intangible assets, net | | | $ | 449,074 | | | $ | (59,213) | | | $ | 389,861 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Weighted Average Amortization
Period | | Gross Value | | Accumulated Amortization | | Net Carrying Value | | | | (In thousands) | | Developed technology | 8.0 years | | $ | 18,411 | | | $ | (12,149) | | | $ | 6,262 | | | Customer relationships | 5.0 years | | 5,743 | | | (5,448) | | | 295 | | | Publisher relationships | 8.0 years | | 18,509 | | | (11,747) | | | 6,762 | | | Trade names | 8.8 years | | 5,235 | | | (2,328) | | | 2,907 | | | Content provider relationships | 5.0 years | | 284 | | | (169) | | | 115 | | | Other | 15.8 years | | 906 | | | (319) | | | 587 | | | Total intangible assets, net | | | $ | 49,088 | | | $ | (32,160) | | | $ | 16,928 | |
During the nine months ended September 30, 2025, in connection with the post-merger integration of the newly acquired Teads business, the Company made a decision to discontinue its video product offering associated with its prior acquisition of vi. Accordingly, the Company fully wrote off the associated intangible assets, as detailed below:
| | | | | | | | | | | Nine Months Ended
September 30, 2025 | | | (In thousands) | | Developed technology | | $ | 5,950 | | | Customer relationships | | 259 | | | Publisher relationships | | 6,426 | | | Trade names | | 2,373 | | | Content provider relationships | | 100 | | | Impairment charge | | $ | 15,108 | |
No impairment charges were recorded for the Company’s intangible assets subject to amortization during the three and nine months ended September 30, 2024. As of September 30, 2025, estimated amortization related to the Company’s identifiable Acquisition-related intangible assets in future periods was as follows: | | | | | | | | | | | Amount | | | (In thousands) | | Remainder of 2025 | | $ | 13,392 | | | 2026 | | 53,133 | | | 2027 | | 52,971 | | | 2028 | | 52,917 | | | 2029 | | 52,917 | | | Thereafter | | 164,531 | | | Total | | $ | 389,861 | |
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