Goodwill and intangible assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill and intangible assets

Goodwill

Goodwill represents the difference between the purchase price and the estimated fair value of identifiable assets acquired and liabilities assumed. Goodwill acquired in a business combination is determined to have an indefinite useful life and is not amortized but instead is tested for impairment at least annually in accordance with ASC 350.

Intangible assets

Intangible assets, net consisted of the following as of March 31, 2026 and December 31, 2025:

(In thousands, except weighted average useful life)	March 31, 2026
Intangible assets:	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted Average Useful Life (in years)
Tradenames	$	2,794	$	(1,334)	$	1,460	5.7
Technology - acquired	7,822		(5,350)		2,472		2.7
Total intangible assets	$	10,616	$	(6,684)	$	3,932	3.5

(In thousands, except weighted average useful life)	December 31, 2025
Intangible assets:	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted Average Useful Life (in years)
Tradenames	$	2,794	$	(1,268)	$	1,526	5.9
Technology - acquired	7,822		(5,091)		2,731		2.9
Total intangible assets	$	10,616	$	(6,359)	$	4,257	3.7

Amortization expense for definite-lived intangible assets was $0.3 million for both the three months ended March 31, 2026 and 2025. As of March 31, 2026, the Company expects to record the following amortization expense for definite-lived intangible assets:

(In thousands)	Amortization Expense
For the Years Ending December 31,
2026 (9 months remaining)	$	880
2027	1,016
2028	742
2029	530
2030	412
Thereafter	352
Total	$	3,932