Goodwill was $72.6 million and $70.6 million as of June 30, 2026 and December 31, 2025, respectively. The Company tests its goodwill and indefinite-lived intangible assets allocated to its reporting units for impairment annually on October 1, or more frequently if events or circumstances indicate that it is more likely than not that the fair value of its reporting units and indefinite-lived intangible assets are less than their carrying amount.

The Company did not recognize any impairment charges on its goodwill or intangible assets during the three and six months ended June 30, 2026 and 2025.

The following table summarizes the carrying amount and changes in goodwill associated with the Company’s segments:


(in thousands)	GCR		ODR		Total











Goodwill as of December 31, 2025	$	15,578	$	55,022	$	70,600
Measurement period adjustments - Pioneer Power Transaction(1)	—		2,044		2,044
Goodwill as of June 30, 2026	$	15,578	$	57,066	$	72,644

(1) The Company recorded cumulative measurement period adjustments during the six months ended June 30, 2026 primarily related to refinements of acquired working capital balances, including accounts payable, accrued expenses and other current liabilities, and contract liabilities, based on additional information regarding facts and circumstances that existed as of the acquisition date. The net effect of these adjustments was recorded as a corresponding adjustment to goodwill. See Note 3 – Acquisitions for further detail.


(in thousands)	Gross carrying amount		Accumulated amortization		Net intangible assets, excluding goodwill
June 30, 2026
Amortized intangible assets:
Customer relationships	$	47,620	$	(14,384)	$	33,236




Backlog	5,960		(5,960)		—

Trade name, trademarks and intellectual property	5,550		(2,970)		2,580

Total amortized intangible assets	59,130		(23,314)		35,816
Unamortized intangible assets:
Trade name – Limbach(1)	9,960		—		9,960
Total unamortized intangible assets	9,960		—		9,960
Total amortized and unamortized assets, excluding goodwill	$	69,090	$	(23,314)	$	45,776

(1) The Company has determined that its trade name has an indefinite useful life. The Limbach trade name has been in existence since the Company’s founding in 1901 and therefore is an established brand within the industry.


(in thousands)	Gross carrying amount		Accumulated amortization		Net intangible assets, excluding goodwill
December 31, 2025
Amortized intangible assets:
Customer relationships	$	47,620	$	(11,741)	$	35,879



Backlog	5,960		(5,800)		160

Trade name, trademarks and intellectual property	5,550		(2,362)		3,188
Total amortized intangible assets	59,130		(19,903)		39,227
Unamortized intangible assets:
Trade name – Limbach	9,960		—		9,960
Total unamortized intangible assets	9,960		—		9,960
Total amortized and unamortized assets, excluding goodwill	$	69,090	$	(19,903)	$	49,187

Total amortization expense for the Company’s definite-lived intangible assets was $1.7 million and $3.5 million for the three and six months ended June 30, 2026, respectively, and $1.8 million and $3.6 million for the three and six months ended June 30, 2025, respectively.