INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

11. INTANGIBLE ASSETS

Intangible assets consisted of the following as of December 31:

(Dollars in thousands)	2025			2024
Beeline brand	$	4,557		$	4,557
Customer data		393			393
Total		4,950			4,950
Less accumulated amortization		(121	)		(23	)
Intangible assets, net	$	4,829		$	4,927

The Beeline brand has been determined to have an indefinite life and is not amortized. The Company, on an annual basis, tests the indefinite-lived asset for impairment. If the carrying value of an indefinite-lived asset is found to be impaired, then the Company will record an impairment loss and reduce the carrying value of the asset. As of December 31, 2025 and 2024, the Company determined that the Beeline brand was not impaired.

Customer data that was acquired in the merger has a useful life of four years and amortization expense was $0.1 million for the year ended December 31, 2025 and $22,714 for the period October 8, 2024 through December 31, 2024.