Quarterly report [Sections 13 or 15(d)]

GOODWILL AND INTANGIBLE ASSETS, NET

v3.25.1
GOODWILL AND INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET
NOTE 8—GOODWILL AND INTANGIBLE ASSETS, NET
The following table presents the Company's goodwill and intangible assets, net:
(in thousands)
 March 31,
2025		 December 31,
2024
Goodwill $ 198,724  $ 198,724 
Intangible assets, net 25,041  27,270 
Goodwill and intangible assets, net $ 223,765  $ 225,994 
Goodwill
The changes in the carrying amount of goodwill allocated to the origination reporting unit are presented in the following table:
(in thousands)
Amount
Balance at December 31, 2023 $ 186,181 
Acquisitions
 12,543 
Balance at December 31, 2024 198,724 
Balance at March 31, 2025 $ 198,724 
Intangible Assets, Net
The following table presents the Company's intangible assets, net:
March 31, 2025 December 31, 2024
(in thousands)
 Gross Intangibles Accumulated Amortization Net Intangibles Gross Intangibles Accumulated Amortization Net Intangibles
Referral network $ 53,500  $ (28,459) $ 25,041  $ 53,500  $ (26,230) $ 27,270 
Amortization expense related to intangible assets was $2.2 million for each of the three months ended March 31, 2025 and 2024.