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Note 16 - Intangibles

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

16.

INTANGIBLES

The following tables summarize the changes in the Company’s intangible assets as of December 31, 2025 and December 31, 2024 (in thousands):

		*January 1, 2025*				*Year Ended December 31, 2025*								*December 31, 2025*				*December 31, 2025*
		*Gross Carrying Amount*				*Additions*				Impairments⁽²⁾				*Accumulated Amortization*				*Net Book Value*
Trademarks⁽¹⁾		$	21,285			$	—			$	(2,401	)		$	(16,148	)		$	2,736
Non-competition agreement			11				—				—				(11	)			—
Transition services agreement			12				—				—				(12	)			—
Customer relationships⁽¹⁾			5,700				—				(1,421	)			(2,660	)			1,619
Software			38				—				—				(22	)			16
Other			700				—				—				(700	)			—
Total intangibles⁽¹⁾		$	27,746			$	—			$	(3,822	)		$	(19,553	)		$	4,371

	(1)	As of December 31, 2025, the weighted-average remaining amortization period for Trademarks and Customer Relationships was 5.25 years and 5.33 years, respectively. The weighted-average remaining amortization period for total intangibles was 5.28 years.
	(2)	In December 2025, the Company announced that its Board of Directors had initiated a process to explore strategic alternatives to maximize shareholder value. This announcement constituted a triggering event under ASC 350, Intangibles—Goodwill and Other, requiring the Company to perform an interim impairment assessment of its definite-lived brand intangible assets. The Company estimated the fair value of its definite-lived brand assets using market-based inputs, including indicative valuations from market participants obtained during the strategic alternative process. Based on this assessment, the Company determined that the carrying value of certain brand intangible assets exceeded their estimated fair value. Accordingly, the Company recorded a non-cash impairment charge of approximately $3.8 million during the fourth quarter of 2025. The impairment charge is included within impairment loss on intangibles on the Consolidated Statement of Operations.

		January 1, 2024				Year-Ended December 31, 2024								December 31, 2024				December 31, 2024
		Gross Carrying Amount				Additions				Impairments				Accumulated Amortization				Net Book Value
Trademarks		$	21,285				—			$	—			$	(15,166	)		$	6,119
Non-competition agreement			11				—				—				(11	)			—
Transition services agreement			12				—				—				(12	)			—
Customer relationships			5,700				—				—				(2,090	)			3,610
Software			—				38				—				(10	)			28
Other			700				—				—				(700	)			—
Total intangibles		$	27,708			$	38			$	—			$	(17,989	)		$	9,757

The Company’s intangible assets are amortized on a straight-line basis over their estimated useful lives, which are 5 to 15 years for trademarks, 3 to 5 years for non-competition agreements, the term of the contract for transition services agreements, 5 to 15 years for customer relationships, and 3 to 5 years for software.

The Company recognized $1.6 million in intangibles amortization expense during the year ended December 31, 2025 and December 31, 2024.

The following table sets forth the estimated aggregate amortization of our in-place intangible assets and favorable intangible assets for the next five years and thereafter (amounts in thousands):

2026		$	839
2027			829
2028			826
2029			826
2030			814
Thereafter			237
Total		$	4,371