Goodwill |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Goodwill. | |
| Goodwill | 11. Goodwill As described in Note 10, the Company recorded $3,554 in goodwill as a result of the acquisition of SeQure. During its fourth fiscal quarter, the Company performed its annual test to determine if the goodwill was impaired. The Company is a single reporting unit, and estimated its fair value using a combination of the income approach and the market approach, applying a weighting of 75% and 25%, respectively. The income approach incorporates the estimated future cash flows and a terminal value discounted to their present value using a risk-adjusted discount rate. The market approach estimated the fair value of the Company by using valuation metrics of comparable publicly traded companies. Based on the evaluation, the Company concluded that the carrying value of the Company exceeded its fair value by an amount greater than the previously recorded goodwill and therefore, recorded an impairment charge of $3,554 in the consolidated financial statements for the year ended December 31, 2025. The Company did not have goodwill on its consolidated balance sheet as of December 31, 2025. The Company did not have goodwill during the year ended December 31, 2024. |