GOODWILL AND INTANGIBLES

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill consisted of the following:


		Goodwill
Balance at December 31, 2024		$71,582
Alani Nu Acquisition		731,812
Rockstar Acquisition		109,827
Foreign currency translation		1,736
Balance at September 30, 2025		$914,957

The carrying amounts and accumulated amortization of intangible assets, net of the impact of foreign exchange rate fluctuations, as

of September 30, 2025 and December 31, 2024 were as follows:


	Estimated Useful Life in Years	September 30, 2025	December 31, 2024
Definite-lived intangible assets
Customer relationships	5 - 25	$132,171	$13,970
Brands	3	500	500
Less: accumulated amortization		(14,857)	(2,692)
Definite-lived intangible assets, net		$117,814	$11,778

Indefinite-lived intangibles assets
Brands	indefinite	$1,280,487	$435
Less: impairment[1]		(482)	—
Indefinite-lived intangible assets		$1,280,005	$435

Brands-net		$1,280,353	$907
Customer relationships-net		$117,466	$11,306

[1] During the second quarter of 2025, the Company reassessed the remaining carrying value of the Func Foods brand name intangible asset. The Company

recorded a non-cash impairment charge of $0.5 million (including the impact of foreign exchange) to fully write off the remaining carrying amount of the

Func Foods brand name. This charge is included within other (expense) income on the condensed consolidated statements of operations and

comprehensive income.

The following table reflects the future estimated annualized amortization expense related to definite-lived intangible assets:


2025		$5,913
2026		23,653
2027		23,625
2028		23,486
2029		23,486
Thereafter		17,651
Total		$117,814

As of September 30, 2025 and December 31, 2024, there were no indicators of goodwill or intangible asset impairment. Intangible

asset amortization expense for the three months ended September 30, 2025 and 2024 was approximately $5.8 million and $0.1

million, respectively. Amortization expense for the nine months ended September 30, 2025 and 2024 was approximately $11.8

million and $0.4 million, respectively. Amortization expense is primarily included in selling, general and administrative expenses.