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Technology License

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

11. Technology License

In April 2024, the Company's subsidiary, Igniton, Inc., a Colorado corporation (“Igniton”), purchased a royalty free perpetual license for $16.2 million. This license is recorded within the Technology license, net line item on the consolidated balance sheets.

Technology license, net consists of the following as of March 31, 2026:


(in thousands)	March 31, 2026

Technology license	$	16,156
Accumulated amortization		(1,615	)
Technology license, net	$	14,541

The license is amortized on a straight-line basis over 20 years. Amortization expense was $202 thousand for three months ended March 31, 2026 and 2025, respectively.