v3.26.1
Note 4 - Intangible Assets
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Intangible Asset and Goodwill [Text Block]

NOTE 4  INTANGIBLE ASSETS

 

Intangible Assets Subject to Amortization

 

The following provides a breakdown of identifiable intangible assets, net as of  March 31, 2026 and  December 31, 2025 (dollars in thousands):

 

  

March 31, 2026

  

December 31, 2025

 

Customer relationships

 $15,300  $15,300 

Marketing related

  900   900 

Total

  16,200   16,200 

Less: accumulated amortization

  (3,250)  (2,950)

Identifiable intangible assets, net

 $12,950  $13,250 

 

These intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization expense for the three months ended March 31, 2026 and 2025 was $300,000 in each period and is presented as part of depreciation and amortization in the unaudited condensed consolidated statements of operations. During the current period there have been no events that would cause the Company to evaluate its intangible assets for impairment.

 

As of March 31, 2026, the estimated impact from annual amortization from intangible assets for each of the next five fiscal years and thereafter is as follows (dollars in thousands):

 

2026, remaining

 $900 

2027

  1,130 

2028

  1,060 

2029

  1,020 

2030

  1,020 

Thereafter

  7,820 

Total

 $12,950