
	Successor
	March 31, 2026
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Amortization Period
	(in thousands, except weighted average amortization period information)
Technology	$	3,421	$	(20)	$	3,401	14.6
Trade names	5,750		(48)		5,702		9.9
Total	$	9,171	$	(68)	$	9,103


	Predecessor
	December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Amortization Period
	(in thousands, except weighted average amortization period information)
Customer relationships	$	63,270	$	(58,178)	$	5,092	1.8
Technology	125,110		(62,139)		62,971		7.8
Total	$	188,380	$	(120,317)	$	68,063

Upon the adoption of fresh start accounting, the Company identified intangible assets of approximately $9.2 million, which consisted of technology and trade names. The Level 3 fair value of technology and trade names was determined by using the income approach, specifically the relief-to-royalty method. The relief-to-royalty method is based on the assumption that in lieu of ownership, a company would be willing to pay a royalty in order to exploit the related benefits of each intangible asset. Significant inputs utilized in determining the fair value included, but was not limited to, estimates of revenue growth rates, operating profit margins, royalty rates, discount rates, future market share, and future market conditions, which the Company believes are reasonable and appropriate. Royalty rates ranged from 0.25% to 1.25% and discount rates ranged from 17.5% to 22.5%.

The Level 3 fair value of technology and the Level 3 fair value of customer relationships as of December 31, 2025 of the Predecessor were estimated using the income approach, specifically the multi-period excess earnings method. The multi-period excess earnings method consists of isolating the cash flows attributed to the intangible asset, which are then discounted to present value to calculate the Level 3 fair value of the intangible asset.

Amortization of intangibles expense was $0.1 million, $2.0 million, and $2.8 million for the 2026 Successor Period, the 2026 Predecessor Period, and the 2025 Predecessor Period, respectively.