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GOODWILL AND INTANGIBLES | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES As of March 31, 2025 and December 31, 2024, goodwill, net of the impact of foreign exchange rate fluctuations, was approximately $72.1 million and $71.6 million, respectively. The carrying amount and accumulated amortization of definite-lived intangible assets, and the carrying amount of indefinite-lived intangible assets, net of the impact of foreign exchange rate fluctuations, as of March 31, 2025 and December 31, 2024, were as follows:
| Estimated Useful Life in Years |  | March 31, 2025 |  | December 31, 2024
Definite-lived intangible assets |  |  |  |  |
Customer relationships | 6-25 |  | $ | 14,505 |  |  | $ | 13,970 |
Trade name | 3 |  | 500 |  |  | 500 |
Less: accumulated amortization |  |  | (3,014) |  |  | (2,692) |
Definite-lived intangible assets, net |  |  | $ | 11,991 |  |  | $ | 11,778 |
Indefinite-lived intangible assets |  |  |  |  |
Brands |  |  | 453 |  |  | 435 |
Intangibles-net |  |  | $ | 12,444 |  |  | $ | 12,213 |
As of March 31, 2025 and December 31, 2024, there were no indicators of goodwill or intangible asset impairment. Amortization expense for the three months ended March 31, 2025 and 2024 was approximately $0.2 million and $0.1 million, respectively. Amortization expense is included in selling, general and administrative expenses. The following table reflects the future estimated annualized amortization expense related to definite-lived intangible assets:
2025 | $ | 642 |
2026 | 856 |
2027 | 829 |
2028 | 690 |
2029 | 690 |
Thereafter | 8,284 |
Total | $ | 11,991 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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