9. Goodwill and Intangibles

Intangibles

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Intangible assets as of June 30, 2026 and December 31, 2025 were comprised of the following items:

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The following table outlines the estimated annual amortization expense for the next five years related to intangible assets as of June 30, 2026:

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Goodwill

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The following table shows the change in the carrying amount of goodwill:

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The Company evaluates goodwill for impairment at least annually, or more frequently if events or changes in circumstances indicate that goodwill may be impaired. For the year ended December 31, 2025, the Company performed a qualitative assessment and concluded that it was more likely than not that the fair value of its cannabis segment exceeded the carrying amount. Accordingly, the Company determined that it was not necessary to perform a quantitative goodwill impairment test as of that date, and no impairment was recognized.

For the three and six months ended June 30, 2026, the Company evaluated whether any events or changes in circumstances occurred that would indicate it is more likely than not that goodwill is impaired. Based on this evaluation, the Company concluded that no such triggering events or circumstances existed as of June 30, 2026, and therefore no interim quantitative impairment test was performed and no impairment was recognized during the period.