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

(11) Goodwill and Intangible Assets

The following tables summarize the Company’s intangible assets (dollars in thousands):

 

 

June 30, 2026

 

 

 

Weighted
average
amortization
period in
years

 

 

Gross
carrying
amount

 

 

Accumulated
amortization

 

 

Net
carrying
amount

 

Customer Relationships

 

 

15

 

 

$

36,600

 

 

$

11,131

 

 

$

25,469

 

Trade Names

 

 

10

 

 

 

800

 

 

 

365

 

 

 

435

 

Developed Technology

 

 

5

 

 

 

740

 

 

 

688

 

 

 

52

 

Vendor Relationships

 

 

15

 

 

 

1,250

 

 

 

545

 

 

 

705

 

Database

 

 

5

 

 

 

2,400

 

 

 

2,190

 

 

 

210

 

Patents

 

 

17

 

 

 

157

 

 

 

74

 

 

 

83

 

Total intangible assets

 

 

 

 

$

41,947

 

 

$

14,993

 

 

$

26,954

 

 

 

 

December 31, 2025

 

 

 

Weighted
average
amortization
period in
years

 

 

Gross
carrying
amount

 

 

Accumulated
amortization

 

 

Net
carrying
amount

 

Customer Relationships

 

 

15

 

 

$

36,600

 

 

$

9,911

 

 

$

26,689

 

Trade Names

 

 

10

 

 

 

800

 

 

 

325

 

 

 

475

 

Developed Technology

 

 

5

 

 

 

740

 

 

 

627

 

 

 

113

 

Vendor Relationships

 

 

15

 

 

 

1,253

 

 

 

504

 

 

 

749

 

Database

 

 

5

 

 

 

2,400

 

 

 

1,950

 

 

 

450

 

Patents

 

 

17

 

 

 

157

 

 

 

70

 

 

 

87

 

Subtotal intangible assets

 

 

 

 

 

41,950

 

 

 

13,387

 

 

 

28,563

 

In-place Lease Intangible Asset

 

 

4

 

 

 

568

 

 

 

568

 

 

 

 

Above Market Lease Intangible Asset

 

 

4

 

 

 

896

 

 

 

896

 

 

 

 

Total intangible assets

 

 

 

 

$

43,414

 

 

$

14,851

 

 

$

28,563

 

Amortization expense for the three and six months ended June 30, 2026 and 2025 was as follows (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Sales and marketing

 

$

770

 

 

$

770

 

 

$

1,540

 

 

 

1,540

 

Product development

 

 

30

 

 

 

30

 

 

 

60

 

 

 

60

 

General and administrative (1)

 

 

4

 

 

 

3

 

 

 

7

 

 

 

7

 

Total

 

$

804

 

 

$

803

 

 

$

1,607

 

 

$

1,607

 

(1) Amortization of the lease-related intangible assets is recorded as operating lease expense in general and administrative.

As of June 30, 2026, estimated amortization expense for intangible assets for the remainder of 2026 and the next five years is: $1.6 million in 2026, $2.6 million in 2027, $2.6 million in 2028, $2.6 million in 2029, $2.6 million in 2030, $2.6 million in 2031 and $12.3 million thereafter.

The following table provides a roll forward of the carrying amount of goodwill (in thousands):

 

 

2026

 

 

2025

 

Balance as of January 1:

 

 

 

 

 

 

Gross goodwill

 

$

266,875

 

 

$

265,760

 

Accumulated impairments

 

 

(3,074

)

 

 

(3,074

)

Net goodwill as of January 1

 

 

263,801

 

 

 

262,686

 

Impact of foreign exchange

 

 

(310

)

 

 

1,115

 

Net goodwill as of June 30, 2026 and December 31, 2025:

 

$

263,491

 

 

$

263,801

 

As of June 30, 2026 and December 31, 2025, the Company had $263.5 million and $263.8 million, respectively of goodwill. As of June 30, 2026, $258.0 million was part of the Company's U.S. operating segment and $5.5 million was part of its International operating segment. As of December 31, 2025, $258.0 million was part of the Company's U.S. operating segment and $5.8 million was part of its International operating segment.