INTANGIBLE ASSETS, NET |
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| Intangible Asset, Goodwill and Other [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS, NET | Note 11: INTANGIBLE ASSETS, NET
The Company’s intangible assets consisted of the following:
AIRWA INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 11: INTANGIBLE ASSETS, NET (cont.)
Intangible Assets
The Company’s finite-lived intangible assets consist of development costs and customer relationships. These intangible assets are amortized on a straight-line basis over their estimated useful lives of five years. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
During the year ended April 30, 2026, the Company recognized an impairment loss of approximately $7,532,712 related to its intangible assets. This loss was included in “Impairment of intangible assets” in the consolidated statements of operations and comprehensive (loss)/income.
Acquired Intangible Assets
On January 30, 2026, in connection with the acquisition of Aberfeldy, the Company recognized acquired intangible assets consisting of a $54.8 million fair value adjustment related to development costs and $42.0 million related to customer relationships.
On July 30, 2026, in connection with the acquisition of Best Life, the Company recognized acquired intangible assets consisting of a $24.5 million fair value adjustment related to a noncompete agreement, $9.4 million related to patents, and $17.7 million related to customer relationships.
These acquired intangible assets are finite-lived and are amortized on a straight-line basis over an estimated useful life of five years. Amortization expense related to these acquired intangible assets was approximately $5.5 million and , respectively, for the three months ended July 31, 2026 and 2025.
As of July 31, 2026, the net carrying amount of these acquired intangible assets was $137.3 million.
See Note 14, Business Combinations, for additional information regarding the acquisition and the allocation of the purchase consideration.
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