Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill as of June 30, 2025 was $10.9 million, which resulted from the Credova Merger and is included in the Financial Technology segment. See Note 4 — Acquisitions, for further information.

The following table summarizes intangible assets, net:


	Useful Life	June 30, 2025		December 31, 2024
Capitalized software development costs	1-5 years	$	15,224,961	$	8,620,519
Trademark and tradenames	5 years	1,700,000		1,700,000
Internally developed software	3 years	3,600,000		3,600,000
Merchant relationships	5 years	5,900,000		5,900,000
State operating licenses	Indefinite	975,000		520,000
Purchased technology	1-15 years	247,488		247,488
Brand name	10 years	1,377,461		1,377,461
Total intangible assets		29,024,910		21,965,468
Less: Accumulated amortization		(8,433,976)		(6,175,031)
Total intangible assets, net		$	20,590,934	$	15,790,437

Amortization expenses were approximately $1.2 million and $0.9 million for the three months ended June 30, 2025 and 2024, respectively, and $2.3 million and $1.2 million for the six months ended June 30, 2025 and 2024, respectively.

As of June 30, 2025, estimated future amortization expense is expected as follows:


Remainder of 2025	$	2,935,736
2026	6,457,433
2027	5,378,677
2028	3,813,060
2029	469,334
Thereafter	561,694
	$	19,615,934