Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table summarizes the changes in the carrying amount of goodwill:


(in thousands)
Balance as of December 31, 2024	$	148,873
Additions	5,947
Foreign currency translation adjustments	7,222
Balance as of September 30, 2025	$	162,042

No goodwill impairment was recorded during the three and nine months ended September 30, 2025 and 2024.

Intangible Assets, Net

The following table summarizes intangible assets:


	September 30, 2025						December 31, 2024
(in thousands)	Gross carrying amount		Accumulated Amortization		Net carrying amount		Gross carrying amount		Accumulated Amortization		Net carrying amount
Definite-lived technology intangible assets	$	236,443	$	(57,806)	$	178,637	$	224,362	$	(24,544)	$	199,818
Definite-lived licensed intangible assets	11,508		(5,679)		5,829		9,350		(2,088)		7,262
Indefinite-lived intangible assets	137,878		—		137,878		128,775		—		128,775
Total intangible assets	$	385,829	$	(63,485)	$	322,344	$	362,487	$	(26,632)	$	335,855

Amortization expense was $13.4 million and $37.4 million during the three and nine months ended September 30, 2025, respectively. Amortization expense was $4.1 million and $11.3 million during the three and nine months ended September 30, 2024, respectively. Amortization expense was included in “Research and Development” and “Cost of Revenue” in the Condensed Consolidated Statements of Operations. No indefinite-lived intangible asset impairment charges were recorded during the three and nine months ended September 30, 2025 and 2024.

RECURSION PHARMACEUTICALS, INC. 10-Q