Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets relate to acquisitions completed by the Company, including those described in Note 3, and were as follows (in thousands):


	March 31, 2026						December 31, 2025
	Gross Value		Accumulated Amortization		Net Value		Gross Value		Accumulated Amortization		Net Value
Proprietary technology	$	12,095	$	(4,189)	$	7,906	$	7,987	$	(3,879)	$	4,108
Backlog	276		(218)		58		276		(184)		92
Customer relationships	900		(211)		689		900		(178)		722
Non-compete agreements	65		(65)		—		65		(65)		—
Total finite-lived assets	13,336		(4,683)		8,653		9,228		(4,306)		4,922
Brand name	3,837		—		3,837		1,997		—		1,997
Total indefinite-lived assets	3,837		—		3,837		1,997		—		1,997
Total intangible assets, net	$	17,173	$	(4,683)	$	12,490	$	11,225	$	(4,306)	$	6,919

Proprietary technology is being amortized over six to seven years. Backlog is being amortized over two years. Customer relationships is being amortized over seven years. Non-compete agreements are being amortized over three years. Brand name is not amortized but reviewed for impairment on a quarterly basis and formally evaluated at year end. Amortization expense totaled $0.4 million and $0.4 million for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, expected amortization expense for finite-lived intangible assets for the next five years is as follows (in thousands):


Fiscal Year Ended:
2026	$	1,523
2027	1,718
2028	1,245
2029	1,245
2030	1,245
Thereafter	1,677
Total	$	8,653