v3.26.1
Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets

Note 4 – Goodwill and Intangible Assets

 

Intangible assets and their estimated useful lives as of June 30, 2026 are as follows (dollars in thousands):

 

 

 

Useful Life

 

Gross
Amount

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

Customer relationships

 

8 and 10 years

 

$

2,680

 

 

$

(1,446

)

 

$

1,234

 

Developed technology

 

5 and 7 years

 

 

710

 

 

 

(557

)

 

 

153

 

Trade name / trademarks

 

3 and 7 years

 

 

30

 

 

 

(26

)

 

 

4

 

 

 

 

 

$

3,420

 

 

$

(2,029

)

 

$

1,391

 

 

During each of the three and six months ended June 30, 2026 and 2025, we recorded $0.1 million and $0.2 million of intangible assets amortization expense, respectively. We expect to record amortization expense for the remainder of 2026 and each subsequent year and thereafter as follows (in thousands):

 

2026

 

$

178

 

2027

 

 

355

 

2028

 

 

338

 

2029

 

 

174

 

2030

 

 

174

 

Thereafter

 

 

172

 

 

 

$

1,391

 

As of June 30, 2026, we had $3.1 million of goodwill. During the three months ended March 31, 2026, we identified a triggering event due to a decline in market capitalization and continued operating losses and, as a result, performed an interim quantitative goodwill impairment test. Based on this analysis, we determined that the fair value of the reporting unit exceeded its carrying value and no impairment of goodwill was recorded as of March 31, 2026. During the three and six months ended June 30, 2026, we did not identify any additional triggering events or indicators of impairment, and therefore no additional interim goodwill impairment test was performed. No impairment of goodwill was recorded during the three and six months ended June 30, 2026.