Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the six months ended June 30, 2025 were as follows:


Balance at December 31, 2024	$	19,139
Impairment	(3,907)
Balances at June 30, 2025	$	15,232

The Company had $36,189 and $32,282 of cumulative impairment losses as of June 30, 2025 and December 31, 2024.

The Company completes its annual goodwill impairment test during the fourth quarter of each year, or more frequently if triggering events indicate a possible impairment in one or more of its reporting units. During the second quarter of 2025, the Company lowered its financial expectations related to the Exemplar reporting unit for the remainder of 2025 and into 2026 due to projected delays in the timing of planned product and services rendered to existing and new customers. These factors constituted an interim triggering event as of the end of the Company's second quarter of 2025, and the Company performed an impairment analysis with regard to its goodwill.

The revised projections were used as a key input into Exemplar's reporting unit’s annual goodwill impairment test performed as of June 30, 2025. The impairment charge of $3,907 represented the estimated excess of carrying value over fair value of this reporting unit. The Company estimated the fair value of its reporting unit utilizing a combination of a discounted present value cash flow model as well as a market earnings multiple approach.

Intangible assets consist of the following as of June 30, 2025:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	15,912	$	(12,094)	$	3,818

Intangible assets consist of the following as of December 31, 2024:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	15,912	$	(11,457)	$	4,455

Amortization expense were $318 and $1,208 for the three months ended June 30, 2025 and 2024, respectively, and $637 and $2,423 for the six months ended June 30, 2025 and 2024, respectively.