Intangible assets, net

9 Months Ended

Sep. 30, 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
		September 30, 2024		December 31, 2023
	(in years)	(in thousands)
Customer relationships	8-12	$	45,479	$	27,839
Tradenames	2-10	6,632		5,324
Acquired software	2.5	995		995
Non-compete agreements	2	584		584
		$	53,690	$	34,742
Less: Accumulated amortization		(11,239)		(8,196)
Intangible assets, net		$	42,451	$	26,546

Based on the carrying value of the Company’s existing intangible assets as of September 30, 2024, the estimated amortization expense for the future years is as follows:

	Amount
	(in thousands)
2024 (excluding nine months ended September 30, 2024)	1,693
2025	6,349
2026	5,896
2027	5,466
2028	5,312
Thereafter	17,735
Total	$	42,451