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GOODWILL AND INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the amount of the carrying value of goodwill for the three months ended March 31, 2025, are as follows:
(in thousands)
Balance - January 1, 2025$30,744 
Impact of foreign currency translation adjustments492 
Balance – March 31, 2025$31,236 
Goodwill was comprised of the following at March 31, 2025, and December 31, 2024:
(in thousands)March 31, 2025December 31,
2024
Electronic Test$12,982 $12,567 
Environmental Technologies1,817 1,817 
Process Technologies16,437 16,360 
Total goodwill$31,236 $30,744 
Schedule of Indefinite-Lived Intangible Assets
Changes in the amount of the carrying value of our intangible assets for the three months ended March 31, 2025 were as follows:
(in thousands)Finite-LivedIndefinite-Lived
Balance - January 1, 2025$16,201 $10,175 
Impact of foreign currency translation adjustments479 96 
Amortization(813)— 
Balance – March 31, 2025$15,867 $10,271 
The following tables provide further detail about our intangible assets as of March 31, 2025, and December 31, 2024:
March 31, 2025
(in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Finite-lived intangible assets:
Customer relationships$24,285 $12,061 $12,224 
Technology5,923 2,280 3,643 
Patents590 590 — 
Backlog487 487 — 
Software270 270 — 
Trade name140 140 — 
Total finite-lived intangible assets31,695 15,828 15,867 
Indefinite-lived intangible assets:
Trademarks10,271 — 10,271 
Total intangible assets$41,966 $15,828 $26,138 
December 31, 2024
(in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Finite-lived intangible assets:
Customer relationships$23,912 $11,496 $12,416 
Technology5,786 2,001 3,785 
Patents590 590 — 
Backlog481 481 — 
Software270 270 — 
Trade name140 140 — 
Total finite-lived intangible assets31,179 14,978 16,201 
Indefinite-lived intangible assets:
Trademarks10,175 — 10,175 
Total intangible assets$41,354 $14,978 $26,376 
Schedule of Finite-Lived Intangible Assets
Changes in the amount of the carrying value of our intangible assets for the three months ended March 31, 2025 were as follows:
(in thousands)Finite-LivedIndefinite-Lived
Balance - January 1, 2025$16,201 $10,175 
Impact of foreign currency translation adjustments479 96 
Amortization(813)— 
Balance – March 31, 2025$15,867 $10,271 
The following tables provide further detail about our intangible assets as of March 31, 2025, and December 31, 2024:
March 31, 2025
(in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Finite-lived intangible assets:
Customer relationships$24,285 $12,061 $12,224 
Technology5,923 2,280 3,643 
Patents590 590 — 
Backlog487 487 — 
Software270 270 — 
Trade name140 140 — 
Total finite-lived intangible assets31,695 15,828 15,867 
Indefinite-lived intangible assets:
Trademarks10,271 — 10,271 
Total intangible assets$41,966 $15,828 $26,138 
December 31, 2024
(in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Finite-lived intangible assets:
Customer relationships$23,912 $11,496 $12,416 
Technology5,786 2,001 3,785 
Patents590 590 — 
Backlog481 481 — 
Software270 270 — 
Trade name140 140 — 
Total finite-lived intangible assets31,179 14,978 16,201 
Indefinite-lived intangible assets:
Trademarks10,175 — 10,175 
Total intangible assets$41,354 $14,978 $26,376 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The following table sets forth the estimated annual amortization expense for each of the next five years:
(in thousands)
Remaining 2025$2,431 
20262,455 
20271,914 
20281,580 
20291,268 
Thereafter6,219 
Total estimated amortization of finite-lived intangible assets$15,867