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Intangible Assets and Goodwill (Tables) | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Intangible Assets | A summary of intangible assets as of June 30, 2025 and December 31, 2024 is as follows.
|  | June 30, 2025 |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 160,066 |  |  | $ | (53,514 | ) |  | $ | 106,552 |
Non-compete agreements |  |  | 500 |  |  |  | (429 | ) |  |  | 71 |
Trade names |  |  | 20,380 |  |  |  | (9,812 | ) |  |  | 10,568 |
Technology, patents, and other |  |  | 33,733 |  |  |  | (26,196 | ) |  |  | 7,537 |
Total |  | $ | 214,679 |  |  | $ | (89,951 | ) |  | $ | 124,728 |
|  | December 31, 2024 |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 145,966 |  |  | $ | (46,693 | ) |  | $ | 99,273 |
Non-compete agreements |  |  | 500 |  |  |  | (393 | ) |  |  | 107 |
Trade names |  |  | 18,280 |  |  |  | (9,297 | ) |  |  | 8,983 |
Technology, patents, and other |  |  | 26,133 |  |  |  | (26,133 | ) |  |  | — |
Total |  | $ | 190,879 |  |  | $ | (82,516 | ) |  | $ | 108,363 |
Schedule of Goodwill | The following table presents a roll-forward of goodwill for the periods ended June 30, 2025 and December 31, 2024:
(in thousands) |  | Goodwill, Gross |  |  | Accumulated Impairment |  |  | Goodwill, Net |
Balance at December 31, 2023 |  | $ | 94,436 |  |  | $ | (70,504 | ) |  | $ | 23,932 |
Additions – DWS acquisition |  |  | 36,244 |  |  |  | — |  |  |  | 36,244 |
Balance at December 31, 2024 |  | $ | 130,680 |  |  | $ | (70,504 | ) |  | $ | 60,176 |
Additions – SCF acquisition |  |  | 15,402 |  |  |  | — |  |  |  | 15,402 |
Additions – Citadel acquisition |  |  | 18,226 |  |  |  | — |  |  |  | 18,226 |
Measurement period adjustment (1) |  |  | 443 |  |  |  | — |  |  |  | 443 |
Foreign currency translation adjustment |  |  | (111 | ) |  |  | — |  |  |  | (111 | )
Balance at June 30, 2025 |  | $ | 164,640 |  |  | $ | (70,504 | ) |  | $ | 94,136 |
(1) Measurement period adjustment is related to legal costs that have been incurred due to unresolved legal matters pertaining to the Impulse Litigation that existed prior to the acquisition of the remaining equity of DWS. Refer to Note 3. Mergers and Acquisitions for further discussion.

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