Note 4 - Intangible Assets

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

4.	Intangible Assets

Intangible assets consist of the following (in thousands):

		*Gross Carrying*				*Accumulated*				*Intangible*
		*Amount*				*Amortization*				*Assets, Net*
As of June 30, 2026
Customer relationships		$	29,327			$	(14,173	)		$	15,154
Trade names and trademarks			12,825				(6,846	)			5,979
Patents			1,627				(355	)			1,272
Total		$	43,779			$	(21,374	)		$	22,405

As of December 31, 2025
Customer relationships		$	27,831			$	(12,735	)		$	15,096
Trade names and trademarks			12,825				(6,224	)			6,601
Patents			1,627				(316	)			1,311
Total		$	42,283			$	(19,275	)		$	23,008

During the six months ended June 30, 2026, intangible assets increased due to the acquisition of Boughton. See Note 2, “Business Combination” for additional information related to this transaction.

Intangible assets are amortized using the straight-line method over estimated useful lives ranging from six to 21 years. The estimated amortization expense for each of the next five years and thereafter is as follows (in thousands):

Year ending December 31,
Remainder of 2026		$	2,141
2027			4,283
2028			4,283
2029			4,207
2030			4,015
Thereafter			3,476
Total amortization expense		$	22,405