Goodwill and intangible assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill


(In thousands)	Goodwill
Original acquired goodwill as of December 31, 2023(1)	$	224,741
Less: Goodwill allocated to SciSafe in divestiture	(11,333)
Less: Goodwill allocated to CBS in divestiture	(1,104)
Balance as of December 31, 2024	$	212,304

(1) As discussed in Note 3: Discontinued operations, the Company allocated a portion of its goodwill to each disposed entity in accordance with ASC 350. The goodwill balance presented above as of December 31, 2023 represents the balance of the reporting unit before the effect of the divestitures. The goodwill presented in the Consolidated Balance Sheets as of December 31, 2024 and 2023 is on a continuing operations basis giving effect to the divestitures.

Intangible assets

Intangible assets, net consisted of the following as of December 31, 2024 and 2023:


(In thousands, except weighted average useful life)	December 31, 2024
Intangible assets:	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted Average Useful Life (in years)
Customer relationships	$	2,516	$	(2,508)	$	8	0.6
Tradenames	4,114		(1,799)		2,315		5.9
Technology - acquired	18,672		(11,436)		7,236		3.1
Non-compete agreements	90		(90)		—		0.0
Total intangible assets	$	25,392	$	(15,833)	$	9,559	3.3


	December 31, 2023
Intangible assets:	Gross Carrying Value		Accumulated Amortization(1)		Net Carrying Value		Weighted Average Useful Life (in years)
Customer relationships	$	2,516	$	(2,495)	$	21	1.6
Tradenames	4,114		(1,389)		2,725		6.9
Technology - acquired	18,372		(9,122)		9,250		4.1
Non-compete agreements	90		(90)		—		0.0
Total intangible assets	$	25,092	$	(13,096)	$	11,996	4.3

Amortization expense for finite-lived intangible assets was $2.7 million, $3.5 million, and $4.0 million for the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024, the Company expects to record the following amortization expense:


(In thousands)
For the Years Ending December 31,	Estimated Amortization Expense
2025	$	2,807
2026	2,692
2027	1,938
2028	828
2029	530
Thereafter	764
Total	$	9,559