Note 7 Goodwill and Other Intangible Assets

The following tables summarize the Company’s other intangible assets in (“000’s”):

Intangible assets are amortized over the estimated useful lives of the respective assets on a straight-line basis. Total amortization expense for the three months ended March 31, 2026 and 2025 was $33.0 and $2.0 thousand, respectively.

Total future amortization expense for finite-lived intangible assets was estimated as follows in (“000’s):

The future amortization schedule above excludes $64 thousand of indefinite-lived trademarks, which are not subject to amortization and are tested for impairment at least annually.

The changes in the carrying amount of goodwill for the three months ended March 31, 2026 are as follows in (“000’s”):

During the year ended December 31, 2025, the Company engaged Loop Capital and performed a quantitative goodwill impairment test for the Instone reporting unit as of October 1, 2025. The estimated fair value of the reporting unit was determined using a weighted blend of the income approach (discounted cash flow method, 50% weight), the guideline public company method (25% weight), and the guideline merged and acquired company method (25% weight). The blended enterprise value of approximately $28,148.0 thousand, after adjustment for net debt of approximately $14,632.0 thousand, resulted in an estimated fair value of equity of $13,516.0 thousand, which was $6.2 million (31.4%) below the carrying value of $19.7 million. Accordingly, the Company recorded a goodwill impairment charge of $6.2 million during the fourth quarter of 2025. Following the impairment charge, goodwill allocated to the Instone reporting unit was $17.1 million as of December 31, 2025.