v3.26.1
GOODWILL AND OTHER INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill of $252,779,884 was recognized as a result of the business combinations, which represent the excess fair value of consideration over the fair value of the underlying net assets. Refer to Note 3, Business Combinations for further discussion.
The changes in the carrying amount of goodwill by reportable segments were as follows:
Reportable SegmentDecember 31, 2025AdditionsAdjustmentsJune 30, 2026
Life Solutions$147,007,357 $— $— $147,007,357 
Asset Management105,772,527 — — 105,772,527 
Total$252,779,884 $— $— $252,779,884 
Intangible Assets Acquired comprised of the following:
Asset TypeNet Book ValueUseful Life
Weighted Average Remaining Amortization Period
Valuation Methodology
Management agreements$47,400,000 
4 - 8 years
3.8 yearsMulti-period excess-earnings method
Customer relationships31,693,300 
3 - 10 years
2.2 yearsMulti-period excess-earnings method
Non-compete agreements7,400,000 
1 - 3 years
0.1 yearsWith or Without Method
Internally developed and used technology2,100,000 
2 - 3 years
0.0 yearsReplacement Cost Method
Trade Name2,500,000 
3 - 10 years
0.3 yearsRelief from Royalty Method
State Insurance Licenses2,700,000 IndefiniteReplacement Cost Method
Trade Name900,000 IndefiniteRelief from Royalty Method
$94,693,300 6.4 years
Intangible assets and related accumulated amortization as of June 30, 2026 are as follows:
June 30, 2026
Gross Value Accumulated AmortizationNet Book Value
Definite Lived Intangible Assets:
Management agreements$47,400,000 $13,201,229 $34,198,771 
Customer relationships31,693,300 14,130,551 17,562,749 
Non-compete agreements7,400,000 6,313,889 1,086,111 
Internally developed and used technology2,100,000 1,911,111 188,889 
Trade Name2,500,000 469,445 2,030,555 
Total$91,093,300 $36,026,225 $55,067,075 
Indefinite Lived Intangible Assets:
State Insurance Licenses2,700,000 — 2,700,000 
Trade Name900,000 — 900,000 
Total$94,693,300 $36,026,225 $58,667,075 

December 31, 2025
Gross ValueAccumulated AmortizationNet Book Value
Definite Lived Intangible Assets:
Management agreements$47,400,000 $9,032,419 $38,367,581 
Customer relationships31,693,300 11,335,052 20,358,248 
Non-compete agreements7,400,000 5,930,556 1,469,444 
Internally developed and used technology2,100,000 1,827,777 272,223 
Trade Name2,500,000 286,111 2,213,889 
Total$91,093,300 $28,411,915 $62,681,385 
Indefinite Lived Intangible Assets:
State Insurance Licenses2,700,000 — 2,700,000 
Trade Name
900,000 — 900,000 
Total$94,693,300 $28,411,915 $66,281,385 
All intangible assets with finite useful lives are subject to amortization when they are available for their intended use. Amortization expense for definite-lived intangible assets was $3,824,053 and $4,667,987 for the three months ended June 30, 2026 and 2025, respectively. Amortization expense for definite-lived intangible assets was for $7,648,106 and $9,301,141 the six months ended June 30, 2026 and 2025, respectively.
Estimated future amortization of definite-lived intangible assets as of June 30, 2026 is as follows:
2026 remaining$7,597,640 
202715,014,728 
202811,501,255 
20297,813,616 
20305,999,171 
Thereafter7,140,665 
Total$55,067,075 
The Company also had other insignificant intangible assets of $1,083,017 and $79,059 as of June 30, 2026 and December 31, 2025, respectively.