On October 8, 2025, the Company purchased the maritime satellite service business of a satellite services provider operating in the Asia-Pacific region. The aggregate purchase price consideration transferred from the Company to the seller totaled $4,721. As a result of the agreement, the Company recognized intangible assets of $3,374 and goodwill of $732.

Intangible assets arose from the purchase of the maritime satellite service business of a satellite services provider operating in the Asia-Pacific region in October 2025, the purchase of distribution rights from Kognitive Networks Inc. in October 2023 and the purchase of KVH Industries Norway AS in September 2010. The assets that are related to the purchased of the maritime satellite service business of a satellite services provider are being amortized on a straight-line basis over the estimated useful life of 9 years. The assets that are related to the distribution rights from Kognitive Networks are being amortized on a straight-line basis over the estimated useful life of 3 years. The assets related to the purchase of KVH Industries Norway AS for acquired intellectual property are fully amortized as of December 31, 2025.

In January 2017, the Company completed the acquisition of certain subscriber relationships from a third party. This acquisition did not meet the definition of a business under ASC 2017-01, Business Combinations (Topic 805)-Clarifying the Definition of a Business. The Company ascribed $100 of the initial purchase price to the acquired subscriber relationships definite-lived intangible assets with an initial estimated useful life of 10 years. Under the asset purchase agreement, the purchase price includes a component of contingent consideration under which the Company is required to pay a percentage of recurring revenues received from the acquired subscriber relationships through 2026 up to a maximum annual payment of $114. The amounts payable under the contingent consideration arrangement, if any, will be included in the measurement of the cost of the acquired subscriber relationships.


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
December 31, 2025
Subscriber relationships	$	85	$	43	$	42
Distribution rights	1,250		855		395
Customer relationships	3,374		94		3,280


Intellectual property	2,284		2,284		—
	$	6,993	$	3,276	$	3,717
December 31, 2024
Subscriber relationships	$	51	$	13	$	38
Distribution rights	1,250		460		790


Intellectual property	2,284		2,284		—
	$	3,585	$	2,757	$	828

Amortization expense related to intangible assets was $519 and $407 for years ended December 31, 2025 and 2024, respectively, and was categorized as general and administrative expense.

As of December 31, 2025, the total weighted average remaining useful lives of the definite-lived intangible assets was 7.8 years and the weighted average remaining useful lives by the definite-lived intangible asset category are as follows:


	2025
Balance at December 31, 2024	$	828
Amortization expense	(519)
Intangible assets acquired in asset acquisition	34
Intangible assets acquired in business combination	3,374


Balance at December 31, 2025	$	3,717

As of December 31, 2025, the Company's goodwill is associated with the purchase of the maritime satellite service business of a satellite services provider operating in the Asia-Pacific region in October 2025.

Goodwill is recorded when the consideration for an acquisition exceeds the fair value of net tangible and identifiable intangible assets acquired. The changes in the carrying amount of goodwill during the year ended December 31, 2025 is as follows: