v3.26.1
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

5. INTANGIBLE ASSETS

 

Intangible assets consisted of the following:

 

   Internal Use Software   Capitalized Engineering Costs   Trade Name and Patents   Customer Relationships   Internally Developed Technology   Non-Compete Agreements   Accumulated Amortization   Total 
Balance as of January 1, 2024  $1,245   $1,265   $2,805   $18,224   $4,804   $1,730   $(13,775)  $16,298 
Amortization expense   -    -    -    -    -    -    (5,910)   (5,910)
Balance as of December 31, 2024   1,245    1,265    2,805    18,224    4,804    1,730    (19,685)   10,388 
Additions   -    19    162    6    1,541    -    -    1,728 
Impairment   -    -    (166)   (1,925)   (175)   (11)    1,515    (762)
Amortization expense   -    -    -    -    -    -    (4,720)   (4,720)
Balance as of December 31, 2025  $1,245   $1,284   $2,801   $16,305   $6,170   $1,719   $(22,890)  $6,634 
Weighted average remaining amortization period at December 31, 2025 (in years)   2.3    3.8    12.7    1.5    4.6    0.0           
                                         
Useful Lives   3 - 5 Years    6 Years    13-17 Years    5 Years    5 Years    2 Years           

 

   Internal Use Software   Capitalized Engineering Costs   Trade Name and Patents   Customer Relationships   Internally Developed Technology   Non-Compete Agreements   Accumulated Amortization 
Balance as of January 1, 2024  $721   $-   $2,092   $6,592   $2,729   $1,641   $13,775 
Amortization expense   24    745    684    2,926    1,444    87    5,910 
Balance as of December 31, 2024   745    745    2,776    9,518    4,173    1,728    19,685 
Impairment   -    -    (166)   (1,178)   (160)   (11)   (1,515)
Amortization expense   288    345    35    3,341    709    2    4,720 
Balance as of December 31, 2025  $1,033   $1,090   $2,645   $11,681   $4,722   $1,719   $22,890 

 

Amortization expense during the years ended December 31, 2025, 2024, and 2023 were $4,720, $5,910, and $7,556, respectively. Amortization expense is included within general and administrative expense during the years ended December 31, 2025, 2024, and 2023.

 

The Company determined that the carrying value of certain intangible assets had exceeded its undiscounted cash flows and, as a result, recorded an intangible asset impairment charge of $762, $0, and $5,143 in the consolidated statements of operations during the years ended December 31, 2025, 2024, and 2023, respectively.

 

See Note 3 - Business Combination for additional details.

 

The estimated future amortization expense is as follows:

 

For the Years Ending December 31,  Total 
2026  $3,599 
2027   1,927 
2028   481 
2029   336 
2030   175 
Thereafter   116 
Finite-lived intangible assets, net   $6,634 

 

 

BLINK CHARGING CO.

 

Notes to Consolidated Financial Statements

(dollars in thousands, except for share and per share amounts)