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 June 30, 2026:


(in thousands)	June 30, 2026

Technology license	$	16,156
Accumulated amortization		(1,818	)
Technology license, net	$	14,339

The license is amortized on a straight-line basis over 20 years. Amortization expense was $202 thousand and $404 thousand for three and six months ended June 30, 2026 and 2025, respectively.