Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2024

The Company’s intangible assets, net, consisted of the following:

	As of June 30, 2024							As of December 31, 2023
	Gross Amount		Accumulated Amortization			Net Carrying Amount		Gross Amount		Accumulated Amortization			Net Carrying Amount
	(In thousands)
Customer and referral relationships	$	108,371	$	(34,297	)	$	74,074	$	93,658	$	(30,414	)	$	63,244
Tradenames		47,631		-			47,631		44,573		-			44,573
Non-compete agreements		10,146		(7,948	)		2,198		9,459		(7,594	)		1,865
	$	166,148	$	(42,245	)	$	123,903	$	147,690	$	(38,008	)	$	109,682

Amortization Expenses

The following table details the amount of amortization expense recorded for intangible assets for the periods presented:

	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
	(In thousands)
Customer and referral relationships	$	2,066	$	1,639	$	3,884	$	3,303
Non-compete agreements		191		149		354		302
	$	2,257	$	1,788	$	4,238	$	3,605

Amortization of Customer and Referral Relationships and Non Competition Agreements

Based on the balance of referral relationships and non-compete agreements as of June 30, 2024, the expected amount to be amortized in 2024 and thereafter by year is as follows:

For the Year Ended December 31,	Customer and Referral Relationships		Non-Compete Agreements
	(In thousands)
2024 (excluding the six months ended June 30, 2024)	$	4,037	$	360
2025		8,049		671
2026		7,582		531
2027		7,418		369
2028		7,149		228
Thereafter		39,839		39
Total	$	74,074	$	2,198