v3.25.2
Intangible Assets
 12 Months Ended
Dec. 31, 2024
Intangible Assets [Abstract]  
Intangible Assets

Note 8 — Intangible Assets

 

As of December 31, 2024, intangible assets were comprised of the following:

 

(In thousands)  Estimated
Useful Life
in Years		   Net Book
Value at
December 31,
2024		 
Customer Relationships   10   $2,800 
Tradenames   7    6,100 
        $8,900 

 

As of December 31, 2023, the Company did not have any intangible assets.

 

The estimated future amortization expense for the next five years and thereafter based on the preliminary purchase price allocation is as follows:

 

 

Years ending December 31 (In thousands)

   Future
Amortization
Expense		  
2025   $ 1,151  
2026     1,151  
2027     1,151  
2028     1,151  
2029     1,151  
Thereafter     3,145  
Total   $ 8,900  

 

Amortization expense recorded in general and administrative expense in the consolidated statements of operations was immaterial for the years ended December 31, 2024, and 2023.