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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Identifiable intangible assets, and related accumulated amortization, as of December 31, 2024 and 2023 consist of:

 

 

 

December 31, 2024

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

 

(in thousands)

 

Customer relationships

 

$

12,101

 

 

$

7,794

 

 

$

4,307

 

Tradenames

 

 

18,293

 

 

 

4,451

 

 

 

13,842

 

Developed technology

 

 

27,706

 

 

 

3,656

 

 

 

24,050

 

Patent and trademarks

 

 

784

 

 

 

625

 

 

 

159

 

Foreign currency

 

 

(1,221

)

 

 

(1,261

)

 

 

40

 

Total Intangible Assets

 

$

57,663

 

 

$

15,265

 

 

$

42,398

 

 

 

 

December 31, 2023

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

 

(in thousands)

 

Customer relationships

 

$

8,085

 

 

$

7,214

 

 

$

871

 

Tradenames

 

 

3,066

 

 

 

2,607

 

 

 

459

 

Developed technology

 

 

1,884

 

 

 

1,613

 

 

 

271

 

Foreign currency

 

 

(1,159

)

 

 

(1,292

)

 

 

133

 

Total Intangible Assets (1)

 

$

11,876

 

 

$

10,142

 

 

$

1,734

 

 

(1)
The accumulated amortization includes $1.9 million of accumulated impairment charges as of December 31, 2023.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of December 31, 2024, estimated annual amortization expense related to definite lived intangible assets in future periods is as follows:

 

 

 

(in thousands)

 

2025

 

$

8,055

 

2026

 

 

7,763

 

2027

 

 

7,590

 

2028

 

 

7,590

 

2029

 

 

7,590

 

Thereafter

 

 

3,810

 

Total

 

$

42,398

 
Schedule of Changes in Carrying Values of Goodwill

All goodwill is attributable to the gaming accessories reporting unit. Changes in the carrying values of goodwill for twelve months ended December 31, 2024 are as follows:

 

 

 

(in thousands)

 

Balance as of January 1, 2024

 

$

10,686

 

PDP acquisition

 

 

42,256

 

Balance as of December 31, 2024

 

$

52,942