GOODWILL AND OTHER INTANGIBLE ASSETS, NET |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2026 | |||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| GOODWILL AND OTHER INTANGIBLE ASSETS, NET |
The Company periodically evaluates whether events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. During the second quarter of 2025, the Company experienced a decline in its stock price, resulting in its market capitalization falling below the carrying value of its single reporting unit. Accordingly, the Company performed a quantitative goodwill impairment assessment.
The fair value of the reporting unit was determined using a market approach, which incorporates the Company’s market capitalization adjusted by an appropriate control premium. Market capitalization is calculated by multiplying the number of shares of common stock outstanding by the market price of the Company’s common stock. The control premium represents the amount a market participant would pay to obtain a controlling interest and was estimated based on publicly available data for comparable transactions.
As a result of this assessment, the Company recorded a goodwill impairment charge of $2.8 million during the year ended December 31, 2025. |