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GOODWILL AND INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill

Changes in the carrying amount of goodwill for the six months ended June 30, 2025 were as follows:
Total
Goodwill at January 1, 2025$93,844 
Clinic acquisitions314 
Boston O&P measurement period adjustment233 
Foreign currency translation impact4,628 
Goodwill at June 30, 2025
$99,019 

Intangible Assets

As of June 30, 2025, the balances of amortizable intangible assets were as follows:
Weighted-Average Amortization PeriodGross Intangible AssetsAccumulated AmortizationNet Intangible Assets
Patents9.7 years$47,711 $(16,467)$31,244 
Intellectual Property & Capitalized Software7.7 years16,027 (4,834)11,193 
Customer Relationships & Other11.0 years22,338 (5,712)16,626 
License Agreements2.9 years10,242 (6,355)3,887 
Total amortizable assets$96,318 $(33,368)$62,950 

As of December 31, 2024, the balances of amortizable intangible assets were as follows:
Weighted-Average Amortization PeriodGross Intangible AssetsAccumulated AmortizationNet Intangible Assets
Patents10.2 years$45,064 $(13,984)$31,080 
Intellectual Property & Capitalized Software8.2 years16,027 (4,065)11,962 
Customer Relationships & Other11.5 years21,850 (4,783)17,067 
License Agreements2.7 years10,710 (6,392)4,318 
Total amortizable assets$93,651 $(29,224)$64,427 

Licenses are tied to product launches and do not begin amortizing until the product is launched to the market.

Trademarks are non-amortizing intangible assets which were $17,082 and $16,752 as of June 30, 2025 and December 31, 2024, respectively. Trademarks are recorded in Other intangible assets on the condensed consolidated balance sheets. The change in balance during the six months ended June 30, 2025 was driven by foreign currency translation adjustments.

During 2024, management determined that a triggering event occurred, indicating that it was more likely than not the fair value of the ApiFix trademark asset was less than the carrying value. As such, the Company completed a quantitative analysis whereby we determined the fair value of the ApiFix trademark
asset was below the carrying value. We recorded an impairment charge of $1,836 for the year ended December 31, 2024 to reduce the carrying amount of the intangible asset to its estimated fair value.