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Note 14 - Intangible Assets, Net

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

14.  Intangible assets, net

The following table summarizes our intangible assets comprising of Customer Relationships & Contracts (“CR&C”), Trademarks, Technology and Software as of  December 31, 2025 and 2024 (in thousands):

		December 31, 2025												December 31, 2024												December 31, 2025
						Accumulated												Accumulated								Weighted
		Gross				impairment								Gross				impairment								average
		carrying				and				Net book				carrying				and				Net book				remaining
		amount				amortization				value				amount				amortization				value				life (years)
CR&C		$	302,605			$	(191,639	)		$	110,966			$	302,605			$	(164,817	)		$	137,788				7.1
Trademarks			64,244				(46,096	)			18,148				64,244				(41,141	)			23,103				4.4
Technology			229,022				(110,527	)			118,495				229,022				(95,713	)			133,309				10.1
Software			25,356				(21,636	)			3,720				21,494				(16,838	)			4,656				1.0
Total		$	621,227			$	(369,898	)		$	251,329			$	617,365			$	(318,509	)		$	298,856				8.3

Amortization expense for intangible assets was $51.4 million, $48.0 million and $38.5 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The following table summarizes the intangible assets which were acquired pursuant to the Coretrax Acquisition in 2024 (in thousands):

		Acquired Fair Value				Weighted average life (years)
Coretrax:
CR&C		$	45,883				13.0
Trademarks			5,251				5.0
Software			648				1.0
Technology			49,868				10-15
Total		$	101,650				13.0

The following table summarizes the intangible assets which were acquired pursuant to the PRT Acquisition during 2023 (in thousands):

		Acquired Fair Value				Weighted average life (years)
PRT:
CR&C		$	32,048				10.0
Trademarks			1,627				4.0
Technology			265				15.0
Total		$	33,940				9.8

No impairment expense associated with our intangible assets was recognized during the years ended December 31, 2025, 2024 and 2023.

Expected future intangible asset amortization as of December 31, 2025 is as follows (in thousands):

Years ending December 31,
2026		$	50,225
2027			46,592
2028			43,099
2029			16,671
2030			15,977
Thereafter			78,765
Total		$	251,329

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The entire disclosure for all or part of the information related to intangible assets.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481283/985-20-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/985-20/tableOfContent

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