Goodwill was $17,885 as of June 30, 2025 and $17,226 as of December 31, 2024. As of June 30, 2025, the Company recorded cumulative translation adjustment of $659 related to Canadian goodwill.

The Company has a risk of future impairment to the extent that individual reporting unit performance does not meet projections. Additionally, if current assumptions and estimates, including projected revenues and income growth rates, terminal growth rates, competitive and consumer trends, market-based discount rates and other market factors, are not met, or if valuation factors outside of the Company’s control change unfavorably, the estimated fair value of goodwill could be adversely affected, leading to a potential impairment in the future.  

Intangible assets, net consisted of the following:

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Definite-lived intangible assets are amortized using the straight-line method over an asset’s estimated useful life. Amortization expense for definite-lived intangible assets for the three months ended June 30, 2025 and 2024 was $685 and $1,073, respectively. Amortization expense for definite-lived intangible assets for the six months ended June 30, 2025 and 2024 was $1,301 and $1,413, respectively.