Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Amortization is computed using the straight-line method over the following estimated useful lives:

Intellectual property	6 - 30 years
Customer relationships	14 years

Software Development Costs

We capitalize costs incurred to purchase or develop software for internal use. Internal-use software development costs are capitalized during the application development stage. These capitalized costs are reflected in intangible assets, net on the consolidated balance sheets and are amortized over the estimated useful life of the software. The useful life of our internal-use software development costs is generally one to six years.

Our intangible assets consist of the following:

	June 30, 2024		December 31, 2023
Definite-lived intangible assets	(in thousands)
Intellectual property	$	12,450	$	12,450
Customer relationships	47,547		47,547
Capitalized internal-use software	14,285		3,323
Less:  Accumulated amortization	(13,293)		(9,838)
Total, net	60,989		53,482
Indefinite-lived intangible assets
Trademarks	14,571		14,571
Total intangible assets, net	$	75,560	$	68,053

Schedule of Amortization Expense

Amortization expense recorded in selling, general and administrative expenses is as follows:

	Three Months Ended				Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
	(in thousands)
Amortization expense	$	1,749	$	901	$	3,455	$	1,803