Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consisted of the following:

At March 31, 2025	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite lived intangible assets
Software	$	2,708	$	(1,076	)	$	1,632
Licenses		167,459		(25,799	)		141,660
Non-compete agreements		280		(280	)		—
Total finite lived intangible assets		170,447		(27,155	)		143,292
Indefinite lived intangible assets
Brand intangibles		24,772		—			24,772
Total indefinite lived intangible assets		24,772		—			24,772
Intangible assets, net	$	195,219	$	(27,155	)	$	168,064

At December 31, 2024	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite lived intangible assets
Software	$	2,708	$	(964	)	$	1,744
Licenses		167,459		(24,371	)		143,088
Non-compete agreements		280		(280	)		—
Total finite lived intangible assets		170,447		(25,615	)		144,832
Indefinite lived intangible assets
Brand intangibles		24,772		—			24,772
Total indefinite lived intangible assets		24,772		—			24,772
Intangible assets, net	$	195,219	$	(25,615	)	$	169,604

Schedule of Estimated Future Amortization Expense for Finite Lived Intangible Assets

Estimated future amortization expense for finite lived intangible assets for the next five years is as follows:

2025	$	4,617
2026		6,145
2027		6,067
2028		6,017
2029		5,903
Thereafter		114,543
Total	$	143,292

Activity in Goodwill Balance

The following table summarizes the activity in the Company’s goodwill balance:

Balance at December 31, 2024	$	106,929
Additions at acquisition date		—
Impairment of goodwill		—
Balance at March 31, 2025	$	106,929