v3.26.1
Intangible Assets, Net
 6 Months Ended
Jun. 30, 2026
Intangible Assets, Net [Abstract]  
Intangible assets, net

Note 5 — Intangible assets, net

 

    Six months ended June 30, 2026  
    Gross
carrying
amount		     Accumulated
amortization		     Net
carrying
amount		  
Customer relationships   $ 124,577,000     $ (17,439,905 )   $ 107,137,095  
Trade names     13,717,000       (2,878,708 )     10,838,292  
Total   $ 138,294,000     $ (20,318,613 )   $ 117,975,387  

 

    December 31, 2025  
    Gross
carrying
amount		     Accumulated
amortization
and
impairment		     Net
carrying
amount		  
Customer relationships   $ 126,703,000     $ (15,422,261 )   $ 111,280,739  
Trade names     13,717,000       (2,192,848 )     11,524,152  
Total   $ 140,420,000     $ (17,615,109 )   $ 122,804,891  

 

The Company recorded amortization expenses related to Customer relationships of $4,143,644, $2,071,826, $4,190,050, and $2,111,720 in the condensed consolidated statements of operations for the six and three months ended June 30, 2026 and 2025, respectively.

 

The Company recorded amortization expenses related to Trade names of $685,860, $342,925, $680,421, and $342,921 in the condensed consolidated statements of operations for the six and three months ended June 30, 2026 and 2025, respectively.  

 

As of June 30, 2026, the expected amortization expense associated with the Company’s identifiable intangible assets with estimable useful lives over the next five years was as follows:

 

2026   $ 4,829,504  
2027     9,658,998  
2028     9,658,998  
2029     9,658,998  
2030     9,658,998  
Thereafter     74,509,891  
Total   $ 117,975,387  

 

As of June 30, 2026, the weighted average amortization period for all intangible assets was 12.5 years, with 12.9 years for Customer relationships and 7.9 years for Trade names.