Company: LPSN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001102993-25-000053
Chunk: 87

Company: LIVEPERSON INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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1)$222,554 Foreign exchange adjustment1,230 Balance as of March 31, 2025 (1)$223,784 (1)  As of March 31, 2025 and December 31, 2024, the accumulated impairment balance was $72.4 million.

16

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

There were no impairments of goodwill during the three months ended March 31, 2025. During the three months ended March 31, 2024, the Company recorded a non-cash impairment charge of $3.6 million in the condensed consolidated statements of operations, to recognize a full impairment of goodwill associated with its WildHealth reporting unit, which was sold in 2024. Intangible Assets, NetIntangible assets, net are summarized as follows: March 31,December 31,20252024(In thousands)Patents: Gross carrying amount$18,161 $17,609 Accumulated amortization(2,705)(2,539)Net carrying amount$15,456 $15,070 Weighted average amortization period13.8 years12.7 yearsAmortization expense is recognized over the estimated useful life of the asset. Aggregate amortization expense for intangible assets and finance leases, net was $0.2 million and $4.2 million for the three months ended March 31, 2025 and 2024, respectively.There were no impairments of intangible assets during the three months ended March 31, 2025. As a result of the impairment test in the first quarter of 2024, the Company recognized a non-cash impairment charge of $2.2 million included in Impairment of intangibles and other assets in the condensed consolidated statements of operations, related to intangible assets associated with its WildHealth reporting unit, which was sold in 2024. As of March 31, 2025, estimated annual amortization expense for the next five years and thereafter is as follows:  Estimated Amortization Expense(In thousands)Remainder of 2025$510 2026613 2027580 2028579 2029563 Thereafter12,611 Total$15,456 

Note 6. Property and Equipment, Net

Property and equipment are stated at cost, net of accumulated depreciation, and amortization. Depreciation