v3.26.1
Intangible Assets
3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
4.
INTANGIBLE ASSETS

Intangible Assets, Net consists of the following:

 

 

March 31,
2026

 

 

December 31,
2025

 

Finite-Lived Intangible Assets

 

 

 

 

 

 

Customer Relationships

 

$

66,376

 

 

$

66,376

 

Trade Name

 

 

9,900

 

 

 

9,900

 

Total Intangible Assets

 

 

76,276

 

 

 

76,276

 

Accumulated Amortization

 

 

 

 

 

 

Customer Relationships

 

 

(60,194

)

 

 

(58,924

)

Trade Name

 

 

(9,900

)

 

 

(9,900

)

Total Accumulated Amortization

 

 

(70,094

)

 

 

(68,824

)

Intangible Assets, Net

 

$

6,182

 

 

$

7,452

 

Amortization expense was $1.3 million and $1.4 million for the three months ended March 31, 2026 and 2025, respectively.

Amortization of Intangible Assets held at March 31, 2026 is expected to be $2.7 million for the remainder of the year ending December 31, 2026, and $0.7 million for each of the years ending December 31, 2027, 2028, 2029 and 2030. The intangible assets as of March 31, 2026 are expected to amortize over a weighted-average period of 3.7 years.