v3.26.1
Intangible Assets
 6 Months Ended
Jun. 30, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 8. Intangible Assets

 

Intangible assets consisted of the following:

 

               
    June 30,
2026		     December 31,
2025		  
Intangible assets, gross   $ 16,498,587     $ 16,498,587  
Accumulated amortization     (9,388,780 )     (8,975,815 )
Intangible assets, net   $ 7,109,807     $ 7,522,772  

 

Customer relationship intangible assets consisted of the following:

 

                 
Customer relationships, gross   $ 48,093,160     $ 48,093,160  
Accumulated amortization     (12,286,314 )     (9,909,103 )
Customer relationships, net   $ 35,806,846     $ 38,184,057  

 

Amortization expense was $1,394,817 and $2,790,176 for the three and six months ended June 30, 2026, respectively. Amortization expense was $6,075,867 and $8,379,824 for the three and six months ended June 30, 2025, respectively.

 

The Company evaluates long-lived assets and intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. No impairment charges related to intangible assets were recorded during the three and six months ended June 30, 2026.

 

Goodwill was fully impaired during the year ended December 31, 2025. Accordingly, the Company had no goodwill recorded as of June 30, 2026 or December 31, 2025.