INTANGIBLES

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Finite-Lived Intangible Assets

As of December 31, 2024, the Company impaired the remaining value of the customer relationships asset and recorded a loss on the impairment of $130 thousand which was recorded in selling, general and administrative expenses. Intangible asset amortization expense was zero and $15 thousand for the three months ended June 30, 2025 and 2024, respectively. Intangible asset amortization expense was zero and $30 thousand for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025 and December 31, 2024 the balance of customer relationships was zero.

Indefinite - Lived Intangible Assets

The following table summarizes the balances of the indefinite-lived intangible assets as of June 30, 2025 and December 31, 2024, in thousands:


	June 30, 2025		December 31, 2024
Intangible asset - Part 135 certificate	$	—	$	1,200

The FAA Part 135 certificate amount of $1.2 million relates to the certificate held by GC Aviation, Inc. In March 2025, the Company sold GC Aviation, Inc, and the FAA Part 135 Certificate for $2.0 million. The Company did not recognize any impairment of the Part 135 certificate during the three or six months ended June 30, 2025 and 2024, respectively.