GOODWILL AND INTANGIBLES, NET

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES, NET

NOTE 2 – GOODWILL AND INTANGIBLES, NET

The annual review of goodwill impairment will be performed in October 2025. There were no triggering events during the three months ended March 31, 2025 and 2024.

The Company had goodwill of $81.7 million at March 31, 2025 and December 31, 2024.

Intangible assets consisted of the following at March 31, 2025 and December 31, 2024 (in 000’s):

	March 31, 2025		December 31, 2024		Useful Life
Technology and know-how	$	53,600	$	53,600	15 years
Trademarks and tradenames	17,700		17,700		15 years
	71,300		71,300
Accumulated amortization of technology and know-how	(23,226)		(22,333)
Accumulated amortization of tradenames and trademarks	(7,670)		(7,375)
Total intangible assets	$	40,404	$	41,592

Amortization of intangible assets will be $4.8 million per year for each of the next five fiscal years.

Aggregate amortization expense on intangible assets was approximately $1.2 million for both of the three months ended March 31, 2025 and 2024.