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

Note 6 – Intangible Assets and Goodwill

 

Intangible Assets

 

Intangible assets as of June 30, 2026, and December 31, 2025 are set forth in the table below. Gross carrying values and accumulated amortization of the Company’s intangible assets by type are as follows:

Schedule of Intangible Assets 

   June 30, 2026   December 31, 2025 
   Cost   Accumulated Amortization   Net   Cost   Accumulated Amortization   Net 
   (in thousands) 
Customer relationships   540    (238)   302    540    (222)   318 
Total intangible assets  $540   $238   $302   $540   $(222)  $318 

 

The Company recognized amortization expense of approximately $8,000 for each of three months ended June 30, 2026 and 2025, respectively. All were recognized in selling, general and administrative expenses on the accompanying condensed statement of operations. The Company recognized amortization expense of approximately $16,000 for each of six months ended June 30, 2026 and 2025, respectively. All were recognized in selling, general and administrative expenses on the accompanying condensed statement of operations.

 

As of June 30, 2026, future amortization expense for each of the next five years is (in thousands):

  

      
Fiscal Years    
2026 (excluding the six months ended June 30, 2026)   16 
2027   32 
2028   32 
2029   32 
2030   32 
2031 and thereafter   158 

 

Goodwill

 

Goodwill had a carrying value on the Company’s condensed balance sheets of $0.8 million at June 30, 2026 and December 31, 2025, respectively.