We recognized $69.2 million in goodwill as the result of the business combination with Barnes & Noble Education on June 10, 2024. As of April 30, 2026 and 2025, the Company recorded goodwill of $69.2 million on our Consolidated Balance Sheets.

The following summarizes our intangible assets, excluding goodwill, recorded as intangible assets on our Consolidated Balance Sheets as of the periods presented below (in thousands):


	April 30, 2026
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-average remaining life (Years)
Trade name	$	45,000	N/A			$	45,000	Indefinite
Customer relationships		50,000		(7,267	)		42,733		11.2
Total	$	95,000	$	(7,267	)	$	87,733


	April 30, 2025
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-average remaining life (Years)
Trade name	$	45,000	N/A			$	45,000	Indefinite
Customer relationships		50,000		(3,419	)		46,581		12.2
Total	$	95,000	$	(3,419	)	$	91,581

Amortization of finite-lived intangible assets is computed using the straight-line method over their estimated useful lives. Trade name is determined to have an indefinite useful life and is not subject to amortization. Amortization expense was $3.8 million and $3.4 million for the fiscal years ended April 30, 2026 and 2025, respectively.

Estimated amortization expense of the intangible assets to be recognized by the Company are (in thousands):


Fiscal Year Ended April 30,
2027	$	3,846
2028		3,846
2029		3,846
2030		3,846
2031		3,846
Thereafter		23,503
Total	$	42,733