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

 

10. INTANGIBLE ASSETS

 

The Company’s intangible assets are finite lived and consist primarily of customer relationships and acquired technology, which are amortized on a straight-line basis over their estimated useful lives of 5 years. The company also holds indefinite-lived trademarks, which are not amortized. As of June 30, 2026, the carrying amount of indefinite-lived trademarks was $13 thousand.

 

Reconciliation of Carrying Amounts (in thousands):

 

   December 31,
2024		   Additions   December 31,
2025		   Additions   Impairment   June 30,
2026		 
Cost                                                                          
Indefinite-lived trademarks  $25   $—   $25   $—   $(12)  $13 
Acquired Technology   1,168    2,750    3,918    —    —    3,918 
Customer Relationships   2,839    —    2,839    —    —    2,839 
Other   456    —    456    —    —    456 
Total  $4,488   $2,750   $7,238   $—   $(12)  $7,226 
                               
Accumulated Amortization                              
Acquired Technology  $632   $509   $1,141   $335   $—   $1,476 
Customer Relationships   1,136    567    1,703    284    —    1,987 
Other   145    92    237    46    —    283 
Total  $1,913   $1,168   $3,081   $665   $—   $3,746 
                               
Carrying Amounts  $2,575        $4,157             $3,480 

 

The Company recorded amortization expense of $332 thousand and $665 thousand for the three and six months ended June 30, 2026, respectively and $222 thousand and $445 thousand for the three and six months ended June 30, 2025, respectively.

 

As of June 30, 2026, expected amortization (in thousands) related to intangible assets will be:

 

Expected Amortization    
2026, excluding the six months ended June 30, 2026  $665 
2027   1,330 
2028   647 
2029   550 
2030 and thereafter   275 
Total  $3,467