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Intangible Assets, Net
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

Note 5. Intangible Assets, Net

Intangible assets consist of the following (in thousands):

 

 

June 30, 2025

 

 

Weighted-Average Amortization Period (in years)

Gross

 

 

Accumulated Amortization

 

 

Net

 

Customer relationships

14

$

25,470

 

 

$

(7,226

)

 

$

18,244

 

Acquired software technology

9

 

16,340

 

 

 

(4,766

)

 

 

11,574

 

Patents and intellectual property

3

 

2,081

 

 

 

(1,505

)

 

 

576

 

Tradename

9

 

2,100

 

 

 

(1,228

)

 

 

872

 

  Total intangible assets, net

 

$

45,991

 

 

$

(14,725

)

 

$

31,266

 

 

 

 

 

December 31, 2024

 

 

Weighted-Average Amortization Period (in years)

Gross

 

 

Accumulated Amortization

 

 

Net

 

Customer relationships

14

$

25,470

 

 

$

(6,307

)

 

$

19,163

 

Acquired software technology

9

 

16,340

 

 

 

(3,911

)

 

 

12,429

 

Patents and intellectual property

3

 

2,068

 

 

 

(1,411

)

 

 

657

 

Tradename

9

 

2,100

 

 

 

(1,167

)

 

 

933

 

  Total intangible assets, net

 

$

45,978

 

 

$

(12,796

)

 

$

33,182

 

Intangible amortization expense was approximately $0.9 million and $1.0 million for the three months ended June 30, 2025 and 2024, respectively. Intangible amortization expense was approximately $1.9 million for both of the six-month periods ended June 30, 2025 and 2024.

 

The following table presents future intangible asset amortization as of June 30, 2025 (in thousands):

Remainder of 2025

 

 

 

 

 

$

1,899

 

2026

 

 

 

 

 

 

3,809

 

2027

 

 

 

 

 

 

3,809

 

2028

 

 

 

 

 

 

3,758

 

2029

 

 

 

 

 

 

3,650

 

Thereafter

 

 

 

 

 

 

14,341

 

  Total

 

 

 

 

 

$

31,266