Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 344

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 344
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 |          |         |     |              |          |   |     |             |         |     |            |     |
| Internally developed software       |     | $        | 146,579 |     | $            | (94,646  | ) |     | $           |  51,933 |     |            | 1.4 |
| Acquired intangible assets          |     |          |  31,373 |     |              | (18,316  | ) |     |             |  13,057 |     |            | 5.8 |
| Total amortizing intangible assets  |     | $        | 177,952 |     | $            | (112,962 | ) |     | $           |  64,990 |     |            |     |
| Indefinite-lived intangible assets: |     |          |         |     |              |          |   |     |             |         |     |            |     |
| Acquired intangible assets          |     |          | 266,404 |     |              | —        |   |     |             | 266,404 |     |            |     |
| Total intangible assets, net        |     | $        | 444,356 |     | $            | (112,962 | ) |     | $           | 331,394 |     |            |     |

Total amortization expense of intangible assets was $13.5 million and $11.1 million for the three months ended March 31, 2025 and 2024, respectively. Amortization expense on internally developed software was $12.1 million and $9.1 million for the three months ended March 31, 2025 and 2024, respectively. Amortization expense on the acquired intangible assets was $1.4 million and $2.0 million for the three months ended March 31, 2025 and 2024, respectively. There were no impairments recorded for intangible assets for the three months ended March 31, 2025 and 2024. The expected future amortization expense for amortizing intangible assets is as follows (in thousands):

| Table 5.3. Future Amortization Expense of Intangible Assets 
 Years ending December 31,                                   |     |   |        |
|:------------------------------------------------------------|:----|:--|-------:|
| 2025 (remaining