PIPER SANDLER COMPANIES
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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Sep 30, 2025 · Filed Nov 4, 2025
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Goodwill and Intangible Assets
NOTE 10 | GOODWILL AND INTANGIBLE ASSETS
| (Amounts in thousands) | |
|---|---|
| Goodwill | |
| Balance at December 31, 2024 | $312,024 |
| Goodwill acquired | 7,364 |
| Balance at September 30, 2025 | $319,388 |
| Intangible assets | |
| Balance at December 31, 2024 | $107,504 |
| Intangible assets acquired | 2,093 |
| Amortization of intangible assets | (6,370) |
| Balance at September 30, 2025 | $103,227 |
As discussed in Note 4, the addition of goodwill and intangible assets during the nine months ended September 30, 2025 related to the acquisition of G Squared. Management identified $2.2 million of customer relationship intangible assets, which are being amortized over a weighted average life of 0.6 years.
At September 30, 2025, intangible assets with determinable lives consisted of customer relationships. The following table summarizes the future aggregate amortization expense of the Company's intangible assets with determinable lives:
| (Amounts in thousands) | |
|---|---|
| Remainder of 2025 | $3,629 |
| 2026 | 7,986 |
| 2027 | 3,480 |
| 2028 | 2,191 |
| 2029 | 541 |
| Total | $17,827 |
Indefinite-lived intangible assets of $85.4 million consist of a trade name, which is not subject to amortization.
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