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GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2025

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

5. GOODWILL AND INTANGIBLE ASSETS

Goodwill was $17,647 as of September 30, 2025 and $17,226 as of December 31, 2024. As of September 30, 2025, the Company recorded cumulative translation adjustment of $421 related to Canadian goodwill.

The Company has a risk of future impairment to the extent that individual reporting unit performance does not meet projections. Additionally, if current assumptions and estimates, including projected revenues and income growth rates, terminal growth rates, competitive and consumer trends, market-based discount rates and other market factors, are not met, or if valuation factors outside of the Company’s control change unfavorably, the estimated fair value of goodwill could be adversely affected, leading to a potential impairment in the future.  

Intangible assets, net consisted of the following:

​

​	​	​	​	​	​	​	​	​
​	​	September 30, 2025
​	​	Gross	​	Accumulated	​	​	​	Net Carrying
​		Amount		Amortization		Impairment	​	Amount
Trade name		$ 2,057		($ 1,179)		$ -	​	$ 878
Existing technology	​	5,785	​	(4,767)	​	-	​	1,018
Non-competition agreements	​	470	​	-	​	-	​	470
Customer relationships	​	2,011	​	(914)	​	-	​	1,097
Licensing agreement	​	210	​	(210)	​	-	​	-
Intellectual property	​	1,453	​	(31)	​	-	​	1,422
Total intangible assets		$ 11,986		($ 7,101)		$ -	​	$ 4,885

​

​	​	​	​	​	​	​	​	​
​	​	December 31, 2024
​	​	Gross	​	Accumulated	​	​	​	Net Carrying
​	​	Amount		Amortization		Impairment	​	Amount
Trade name		$ 2,042		($ 943)		$ -	​	$ 1,099
Existing technology	​	5,349	​	(2,564)	​	-	​	2,785
Non-competition agreements	​	461	​	(272)	​	-	​	189
Customer relationships	​	2,560	​	(503)	​	(549)	​	1,508
Licensing agreement	​	210	​	(210)	​	-	​	-
Intellectual property	​	3,448	​	(578)	​	(1,995)	​	875
Total intangible assets		$ 14,070		($ 5,070)		($ 2,544)	​	$ 6,456

​

Definite-lived intangible assets are amortized using the straight-line method over an asset’s estimated useful life. Amortization expense for definite-lived intangible assets for the three months ended September 30, 2025 and 2024 was $713 and $442, respectively. Amortization expense for definite-lived intangible assets for the nine months ended September 30, 2025 and 2024 was $2,014 and $1,855, respectively.

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- References

No definition available.

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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

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