| Reconciliation of Goodwill |
A reconciliation of the beginning and ending amounts of goodwill by operating segment for the periods ended June 30, 2025 and December 31, 2024 is as follows:
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IT Staffing Services: |
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Beginning balance |
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$ |
8,427 |
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$ |
8,427 |
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Goodwill recorded |
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— |
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— |
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Impairment |
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— |
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— |
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Ending Balance |
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$ |
8,427 |
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$ |
8,427 |
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Data and Analytics Services: |
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Beginning balance |
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$ |
18,783 |
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$ |
18,783 |
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Goodwill recorded |
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— |
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— |
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Impairment |
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— |
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— |
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Ending Balance |
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$ |
18,783 |
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$ |
18,783 |
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| Components of Identifiable Intangible assets |
The Company is amortizing the identifiable intangible assets on a straight-line basis over estimated average lives ranging from 3 to 12 years. Identifiable intangible assets were comprised of the following as of June 30, 2025 and December 31, 2024:
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(Amounts in thousands) |
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Amortization
Period (In Years) |
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Accumulative
Amortization |
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IT Staffing Services: |
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Client relationships |
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12 |
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$ |
7,999 |
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$ |
6,694 |
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$ |
1,305 |
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5 |
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|
319 |
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|
319 |
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— |
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Trade name |
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3 |
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|
249 |
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|
249 |
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— |
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Data and Analytics Services: |
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Client relationships |
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12 |
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19,641 |
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12,231 |
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7,410 |
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5 |
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1,201 |
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1,179 |
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22 |
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Trade name |
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5 |
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1,711 |
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1,686 |
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25 |
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Technology |
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7 |
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1,979 |
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1,732 |
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|
247 |
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Total Intangible Assets |
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$ |
33,099 |
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$ |
24,090 |
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$ |
9,009 |
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|
(Amounts in thousands) |
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Amortization
Period (In Years) |
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Accumulative
Amortization |
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IT Staffing Services: |
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Client relationships |
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12 |
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$ |
7,999 |
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$ |
6,361 |
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$ |
1,638 |
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5 |
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|
319 |
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|
319 |
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— |
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Trade name |
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3 |
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|
249 |
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|
249 |
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— |
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Data and Analytics Services: |
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Client relationships |
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12 |
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19,641 |
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11,413 |
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8,228 |
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5 |
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1,201 |
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1,135 |
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|
66 |
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Trade name |
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5 |
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1,711 |
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|
1,637 |
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|
74 |
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Technology |
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7 |
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1,979 |
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|
1,677 |
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|
302 |
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Total Intangible Assets |
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$ |
33,099 |
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$ |
22,791 |
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$ |
10,308 |
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| Schedule of Estimated Amortization Expense |
The estimated aggregate amortization expense for intangible assets for the years ending December 31, 2025 through 2029 is as follows:
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Amortization expense |
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$ |
2,553 |
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$ |
2,413 |
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$ |
2,025 |
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$ |
1,637 |
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$ |
1,000 |
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