v3.25.4
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill activity
Goodwill represented the excess of purchase price Illumina paid over the fair value of the net identifiable assets acquired upon the Acquisition of the Company.
(in thousands)
Goodwill
Balance as of January 1, 2023$1,497,402 
Impairment(608,466)
Balance as of December 31, 2023888,936 
Impairment(888,936)
Balance as of December 31, 2024$— 
Schedule of intangible assets
The following roll-forward indicates the fair values assigned to finite-lived intangible assets and the resulting amortization:
As of
December 31, 2025December 31, 2024
(in thousands)Gross Carrying AmountAccumulated AmortizationNet Intangible AssetsGross Carrying AmountAccumulated AmortizationNet Intangible Assets
Developed Technologies$2,410,000 $(580,185)$1,829,815 $2,410,000 $(446,297)$1,963,703 
Trade Names40,000 (19,259)20,741 40,000 (14,813)25,187 
Total Finite-Lived Intangible Assets$2,450,000 $(599,444)$1,850,556 $2,450,000 $(461,110)$1,988,890 
The following roll-forward indicates the carrying value of the indefinite-lived intangible asset from the Acquisition and the impairment expenses recorded:
(in thousands)
IPR&D
Balance as of January 1, 2023$670,000 
Impairment(110,000)
Balance as of December 31, 2023560,000 
Impairment(532,000)
Balance as of December 31, 202428,000 
Impairment(28,000)
Balance as of December 31, 2025$— 
Schedule of maturity of finite-lived intangible assets
The estimated future annual amortization of finite-lived intangible assets is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.
(in thousands)
Estimated Annual Amortization
2026$138,333 
2027138,333 
2028138,333 
2029138,333 
2030136,852 
Thereafter1,160,372 
Total$1,850,556