Quarterly report [Sections 13 or 15(d)]

INTANGIBLE ASSETS AND GOODWILL (Tables)

v3.25.1
INTANGIBLE ASSETS AND GOODWILL (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Intangible Assets
The Company’s acquired intangible assets at March 31, 2025 and December 31, 2024 consisted of the following (in thousands):

March 31, 2025 Weighted
average
amortization
period (years)		   Cost Accumulated
amortization		 Net
carrying
value
Tradenames and trademarks 6.08 $ 4,359  $ 2,763  $ 1,596 
Licenses and customer base 9.07 25,353  5,259  20,094 
Non-compete agreements 2.00 42  42  — 
8.62 $ 29,754  $ 8,064  $ 21,690 

December 31, 2024 Weighted
average
amortization
period (years)		 Cost Accumulated
amortization		 Net
carrying
value
Tradenames and trademarks 7.38 $ 3,159  $ 2,466  $ 693 
Licenses and customer base 7.96 22,553  4,607  17,946 
Non-compete agreements 2.00 42  42  — 
7.89 $ 25,754  $ 7,115  $ 18,639 
Schedule of Estimated Future Amortization Expense
Estimated future amortization expense for the Company’s intangible assets at March 31, 2025 was as follows:

Year ending December 31,
Remainder of 2025 $ 2,794 
2026 3,370 
2027 3,277 
2028 2,944 
2029 2,429 
Thereafter 6,876 
Total $ 21,690 
Schedule of Changes In Goodwill
The changes in the carrying value of the Company’s goodwill in the three months ended March 31, 2025 and 2024 were as follows (in thousands):
2025 2024
Balance at January 1, $ 15,812  $ 11,993 
FSC Acquisition 3,670  — 
Adjustments to Ermont purchase price allocation* —  3,819 
Balance at March 31, $ 19,482  $ 15,812 

* In connection with the finalization of the purchase price allocation in the first quarter of 2024 related to the 2023 acquisition of Ermont, Inc., the Company recorded reclassifications between its Tradename and trademarks intangible asset, Licenses and customer base intangible asset, and Goodwill.