v3.26.1
Goodwill and Intangible Assets, Net
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
The following table summarizes changes in goodwill for the six months ended June 30, 2026 and year ended December 31, 2025 (in thousands):
June 30, December 31,
2026 2025
Balance at beginning of period
$ 30,078  $ 30,078 
Additions
2,248  — 
Balance at end of period $ 32,326  $ 30,078 
Intangible assets, net as of June 30, 2026 consist of (in thousands):
Gross Carrying Value
Accumulated
Amortization
Net
Customer relationships
$ 27,809  $ 24,064  $ 3,745 
Tradenames and trademarks
3,395  3,395  — 
Intellectual property
150  123  27 
Capitalized internal use software
2,606  152  2,454 
Total intangible assets, net
$ 33,960  $ 27,734  $ 6,226 
Intangible assets, net as of December 31, 2025 consist of (in thousands):
Gross Carrying Value
Accumulated
Amortization
Net
Customer relationships
$ 24,271  $ 23,860  $ 411 
Tradenames and trademarks
3,395  3,395  — 
Intellectual property
150  108  42 
Capitalized internal use software
2,211  121  2,090 
Total intangible assets, net
$ 30,027  $ 27,484  $ 2,543 
Amortization expense for intangible assets for the three months ended June 30, 2026 and 2025 was $0.2 million, and $0.1 million, respectively, and was $0.3 million and $0.3 million for the six months ended June 30, 2026 and 2025, respectively.
Scheduled remaining amortization expense is presented in the table below (in thousands):
Fiscal Year
Amortization
Expense
Remainder of 2026 $ 368 
2027 492 
2028 354 
2029 354 
2030 354 
Thereafter 1,887 
Total
$ 3,809 
As of June 30, 2026, the Company capitalized internally developed software of $2.4 million for software that is not yet ready for its intended use. This software has a useful life of three years and is expected to commence amortization during the year ending December 31, 2027.