v3.26.1
Goodwill and Intangibles
 6 Months Ended
Jun. 30, 2026
Goodwill and Intangibles [Abstract]  
GOODWILL AND INTANGIBLES

NOTE 7 - GOODWILL AND INTANGIBLES

 

Goodwill

 

The following table summarizes the changes to Goodwill (in thousands):

 

   Amount 
Balance at January 1, 2026  $
       –
 
Additions   519,318 
Balance at June 30, 2026  $519,318 

 

There was no goodwill as of December 31, 2025 and there were no impairment charges recorded for any periods presented.

 

Intangible Assets, Net

 

Intangible assets, net consisted of the following (in thousands, except years):

 

   June 30, 2026 
   Weighted-Average             
   Remaining
Useful Lives		   Acquired
Intangibles,		   Accumulated   Acquired
Intangibles,		 
   (in years)   Gross   Amortization   Net 
Customer relationships   7   $5,190   $(209)  $4,981 
Tradename   20    10,210    (144)   10,066 
Total       $15,400   $(353)  $15,047 

 

Amortization expenses for intangible assets were $312 thousand and $353 thousand for the three and six months ended June 30, 2026. There were no intangible assets as of December 31, 2025.

 

As of June 30, 2026 the expected future amortization expense related to intangible assets was as follows (in thousands):

 

Years Ending December 31,  Amount 
2026  $635 
2027   1,252 
2028   1,252 
2029   1,252 
2030   1,252 
Thereafter   9,404 
Total expected future amortization expenses  $15,047