Intangible assets, net

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

Intangible assets, net

Intangible assets, net consisted of the following:

	Estimated Useful Life	As of
		March 31, 2024		December 31, 2023
	(in years)	(in thousands)
Customer relationships	8-12	$	27,839	$	27,839
Tradenames	2-10	5,324		5,324
Acquired software	2.5	995		995
Non-compete agreements	2	584		584
		$	34,742	$	34,742
Less: Accumulated amortization		(9,211)		(8,196)
Intangible assets, net		$	25,531	$	26,546

Based on the carrying value of the Company’s existing intangible assets as of March 31, 2024, the estimated amortization expense for the future years is as follows:

	Amount
	(in thousands)
2024 (excluding three months ended March 31, 2024)	3,035
2025	3,625
2026	3,168
2027	3,130
2028	3,107
Thereafter	9,466
Total	$	25,531