Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2024

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

	As of September 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	$	110,452	$	(36,275	)	$	74,177	$	93,658	$	(30,414	)	$	63,244
Tradenames		47,940		-			47,940		44,573		-			44,573
Non-compete agreements		10,335		(8,143	)		2,192		9,459		(7,594	)		1,865
	$	168,727	$	(44,418	)	$	124,309	$	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 Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
	(In thousands)
Customer and referral relationships	$	1,977	$	1,669	$	5,861	$	4,972
Non-compete agreements		183		148		537		450
	$	2,160	$	1,817	$	6,398	$	5,422

Amortization of Customer and Referral Relationships and Non Competition Agreements

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

For the Year Ending December 31,	Customer and Referral Relationships		Non-Compete Agreements
	(In thousands)
2024 (excluding the nine months ended September 30, 2024)	$	2,039	$	185
2025		8,136		697
2026		7,670		557
2027		7,506		396
2028		7,237		267
Thereafter		41,589		90
Total	$	74,177	$	2,192