Intangible assets

12 Months Ended

Dec. 31, 2025

8. Intangible assets

The table shows the breakdown and changes in carrying value of intangible assets:


	December 31, 2025				December 31, 2024
	Gross Carrying Amount	Accumulated Amortization	Impairment	Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization	Impairment	Net Carrying Amount
Internally developed software	$217,629	$(143,990)	$—	$73,639	$125,831	$(81,034)	$(1,047)	$43,750
Internally developed software in progress	57,665	—	(2,462)	55,203	62,923	—	(1,899)	61,024
Acquired technology	166,019	(150,226)	—	15,793	150,199	(106,914)	(2,742)	40,543
Acquired customer relationships	102,269	(95,051)	—	7,218	97,802	(84,735)	—	13,067
Total intangible assets	$543,582	$(389,267)	$(2,462)	$151,853	$436,755	$(272,683)	$(5,688)	$158,384

Additions to Intangible Assets are comprised of internally developed software technology for the years ended December

31, 2025 and 2024. Impairment expense of $2.5 million and $5.7 million has been recognized for the year ended

December 31, 2025 and 2024 in Research and Development Expense in the Consolidated Statement of Operations. No

material impairment expense was recognized during the year ended December 31, 2023.

During the year ended December 31, 2025, the Company recorded accelerated amortization of $7.9 million and a

nonrecurring impairment charge of $0.9 million related to internally developed intangible assets following Alphabet Inc.'s

decision not to deprecate third-party cookies in Chrome.

Amortization expense was $89.0 million, $48.3 million and $33.4 million for the years ended December 31, 2025, 2024

and 2023, respectively.

As of December 31, 2025, expected amortization expense for intangible assets for the next five years and thereafter is as

follows:


	Software	Technology and customer relationships	Total
2026	$49,158	$15,205	$64,363
2027	44,697	1,415	46,112
2028	25,786	1,415	27,201
2029	9,201	1,415	10,616
2030	—	1,415	1,415
Thereafter	—	2,146	2,146
Total	$128,842	$23,011	$151,853