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GOODWILL AND INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the amount of the carrying value of goodwill for the six months ended June 30, 2025, are as follows:
(in thousands)
Balance - January 1, 2025$30,744 
Impact of foreign currency translation adjustments1,693 
Balance – June 30, 2025$32,437 
Goodwill was comprised of the following at June 30, 2025, and December 31, 2024:
(in thousands)June 30, 2025December 31,
2024
Electronic Test$14,018 $12,567 
Environmental Technologies1,817 1,817 
Process Technologies16,602 16,360 
Total goodwill$32,437 $30,744 
Schedule of Indefinite-Lived Intangible Assets
Changes in the amount of the carrying value of our intangible assets for the six months ended June 30, 2025 were as follows:
(in thousands)Finite-LivedIndefinite-Lived
Balance - January 1, 2025$16,201 $10,175 
Impact of foreign currency translation adjustments1,590 344 
Amortization(1,663)— 
Balance – June 30, 2025$16,128 $10,519 
The following tables provide further detail about our intangible assets as of June 30, 2025, and December 31, 2024:
June 30, 2025
(in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Finite-lived intangible assets:
Customer relationships$25,247 $12,756 $12,491 
Technology6,302 2,665 3,637 
Patents590 590 — 
Backlog— — — 
Software270 270 — 
Trade name140 140 — 
Total finite-lived intangible assets32,549 16,421 16,128 
Indefinite-lived intangible assets:
Trademarks10,519 — 10,519 
Total intangible assets$43,068 $16,421 $26,647 
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 six months ended June 30, 2025 were as follows:
(in thousands)Finite-LivedIndefinite-Lived
Balance - January 1, 2025$16,201 $10,175 
Impact of foreign currency translation adjustments1,590 344 
Amortization(1,663)— 
Balance – June 30, 2025$16,128 $10,519 
The following tables provide further detail about our intangible assets as of June 30, 2025, and December 31, 2024:
June 30, 2025
(in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Finite-lived intangible assets:
Customer relationships$25,247 $12,756 $12,491 
Technology6,302 2,665 3,637 
Patents590 590 — 
Backlog— — — 
Software270 270 — 
Trade name140 140 — 
Total finite-lived intangible assets32,549 16,421 16,128 
Indefinite-lived intangible assets:
Trademarks10,519 — 10,519 
Total intangible assets$43,068 $16,421 $26,647 
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$1,699 
20262,608 
20272,057 
20281,699 
20291,364 
Thereafter6,701 
Total estimated amortization of finite-lived intangible assets$16,128