| GOODWILL AND INTANGIBLE ASSETS |
5. | GOODWILL AND INTANGIBLE ASSETS |
Goodwill was $17,635 as of March 31, 2026 and $17,872 as of December 31, 2025. As of March 31, 2026, the Company recorded cumulative translation adjustment of $(237) related to Canadian goodwill. Definite-lived intangible assets, net consisted of the following: | | | | | | | | | March 31, 2026 | | | Gross | | Accumulated | | Net Carrying | | | Amount | | Amortization | | Amount | Trade name | | $ 2,059 | | ($ 1,329) | | $ 730 | Existing technology | | 5,632 | | (5,294) | | 338 | Non-competition agreements | | 470 | | (370) | | 100 | Customer relationships | | 2,011 | | (1,188) | | 823 | Licensing agreement | | 210 | | (210) | | - | Intellectual property | | 1,453 | | (31) | | 1,422 | Total intangible assets | | $ 11,835 | | ($ 8,422) | | $ 3,413 |
| | | | | | | | | December 31, 2025 | | | Gross | | Accumulated | | Net Carrying | | | Amount | | Amortization | | Amount | Trade name | | $ 2,068 | | ($ 1,262) | | $ 806 | Existing technology | | 5,996 | | (4,871) | | 1,125 | Non-competition agreements | | 476 | | (368) | | 108 | Customer relationships | | 2,011 | | (1,051) | | 960 | Licensing agreement | | 210 | | (210) | | - | Intellectual property | | 1,453 | | (31) | | 1,422 | Total intangible assets | | $ 12,214 | | ($ 7,793) | | $ 4,421 |
Definite-lived intangible assets are amortized using the straight-line method over an asset’s estimated useful life. Amortization expense for definite-lived intangible assets for the three months ended March 31, 2026 and 2025 was $643 and $616, respectively.
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