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GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2026

GOODWILL AND OTHER INTANGIBLE ASSETS

5. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The following table summarizes the changes in goodwill for the three and six months ended June 30, 2026:


		Product			Distribution			Total
Balance, December 31, 2025		$	178,790		$	2,616		$	181,406
TYR acquisition			50,441			—			50,441
Zircaloy measurement period adjustments			344			—			344
Foreign currency translation adjustments			(966)			—			(966)
Balance, March 31, 2026		$	228,609		$	2,616		$	231,225
Alien Gear acquisition			2,932			—			2,932
TYR measurement period adjustments			32			—			32
Foreign currency translation adjustments			(282)			—			(282)
Balance, June 30, 2026		$	231,291		$	2,616		$	233,907

Gross goodwill and accumulated impairment losses were $241,492 and $7,585, respectively, as of June 30, 2026 and $188,991 and $7,585, respectively, as of December 31, 2025.

Intangible Assets

Intangible assets such as certain customer relationships and patents on core technologies and product technologies are amortizable over their estimated useful lives. Certain trade names and trademarks which provide exclusive and perpetual rights to manufacture and sell their respective products are deemed indefinite-lived and are therefore not subject to amortization.

Intangible assets consisted of the following as of June 30, 2026 and December 31, 2025:


		June 30, 2026
											Weighted
					Accumulated						Average
		Gross			Amortization			Net			Useful Life
Definite-lived intangibles:
Customer relationships		$	138,384		$	(75,672)		$	62,712		18
Technology			93,057			(23,224)			69,833		16
Tradenames			33,134			(8,923)			24,211		13
Non-compete agreements			1,025			(1,025)			—		-
		$	265,600		$	(108,844)		$	156,756
Indefinite-lived intangibles:
Tradenames			17,392			—			17,392		Indefinite
Total		$	282,992		$	(108,844)		$	174,148


		December 31, 2025
											Weighted
					Accumulated						Average
		Gross			Amortization			Net			Useful Life
Definite-lived intangibles:
Customer relationships		$	112,693		$	(73,577)		$	39,116		17
Technology			69,056			(20,587)			48,469		13
Tradenames			18,045			(8,078)			9,967		12
Non-compete agreements			1,037			(1,037)			—		-
		$	200,831		$	(103,279)		$	97,552
Indefinite-lived intangibles:
Tradenames			17,432			—			17,432		Indefinite
Total		$	218,263		$	(103,279)		$	114,984

Amortization expense for the three months ended June 30, 2026 and 2025 was $3,219 and $2,431, respectively, of which $1,501 and $1,198 was included in cost of goods sold in the condensed consolidated statements of operations and comprehensive income for the respective periods. Amortization expense for the six months ended June 30, 2026 and 2025 was $6,117 and $4,526, respectively, of which $2,884 and $2,272 was included in cost of goods sold in the condensed consolidated statements of operations and comprehensive income for the respective periods.

The estimated amortization expense for definite-lived intangible assets for the remaining six months of 2026, the next four years and thereafter is as follows:


Remainder of 2026	$	6,411
2027		12,301
2028		12,301
2029		12,201
2030		11,498
Thereafter		102,044
Total	$	156,756