XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.24.3

Note 10 - Goodwill and Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 10 - Goodwill and Intangible Assets Annual impairment test During the third quarter of 2024, we completed our annual review of goodwill for potential impairment using a quantitative assessment for all of our reporting units. The fair value of each reporting unit was estimated using a weighting of a discounted cash flow model and prices of comparable businesses. As a result of this review, we concluded that the carrying value of our MRI reporting unit exceeded its estimated fair value resulting in an impairment charge of approximately $4.8 million. The goodwill impairment was primarily attributable to industry and market conditions effecting the overall financial performance of the reporting unit. These industry and market conditions were deemed a triggering event that led us to also review the fair value of certain indefinite-lived intangible assets related to the MRI reporting unit. As a result of this review we concluded the carrying value of the trade name related to MRI exceeded its estimated fair value resulting in an impairment charge of approximately $1.2 million. The related impairment was primarily attributable to industry and market conditions effecting the overall financial performance of the reporting unit. The balance for the trade name related to MRI was approximately $2.2 million and $940 thousand at December 31, 2023 and September 30, 2024, respectively. The combined impairment charge of approximately $6.0 million is reflected in the line item, "Goodwill and intangible asset impairment charge," in our Consolidated Statements of Operations for the three and nine months ended September 30, 2024. The table below reflects our goodwill and changes in the carrying value:
(in thousands) |  |  |  |
Goodwill balance at December 31, 2023 |  | $ | 5,870 |
Impairment charge during 2024 |  |  | (4,795 | )
Goodwill balance at September 30, 2024 |  | $ | 1,075 |
Goodwill before impairment |  | $ | 5,870 |
Accumulated impairment charge |  |  | (4,795 | )
Goodwill balance at September 30, 2024 |  | $ | 1,075 |
Intangible Assets The following table reflects our finite-lived and indefinite-lived intangible assets:
|  |  | September 30, 2024 |  |  | December 31, 2023 |
(in thousands except useful life) | Estimated useful life |  |  | Gross |  |  |  | Accumulated amortization and impairment |  |  |  | Net |  |  |  | Gross |  |  |  | Accumulated amortization |  |  |  | Net |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Franchise agreements | 15 years |  | $ | 25,556 |  |  | $ | (5,393 | ) |  | $ | 20,163 |  |  | $ | 25,556 |  |  | $ | (4,116 | ) |  | $ | 21,440 |
Purchased software | 7 years |  |  | 3,200 |  |  |  | (1,371 | ) |  |  | 1,829 |  |  |  | 3,200 |  |  |  | (1,029 | ) |  |  | 2,171 |
Internally developed software | 5 years |  |  | 3,021 |  |  |  | (847 | ) |  |  | 2,174 |  |  |  | 2,683 |  |  |  | (498 | ) |  |  | 2,185 |
Total finite-lived intangible assets |  |  | 31,777 |  |  |  | (7,611 | ) |  |  | 24,166 |  |  |  | 31,439 |  |  |  | (5,643 | ) |  |  | 25,796 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domain name | Indefinite |  |  | 2,226 |  |  |  | - |  |  |  | 2,226 |  |  |  | 2,226 |  |  |  | - |  |  |  | 2,226 |
Trade name | Indefinite |  |  | 3,580 |  |  |  | (1,240 | ) |  |  | 2,340 |  |  |  | 3,580 |  |  |  | - |  |  |  | 3,580 |
Total intangible assets |  | $ | 37,583 |  |  | $ | (8,851 | ) |  | $ | 28,732 |  |  | $ | 37,245 |  |  | $ | (5,643 | ) |  | $ | 31,602 |
Amortization expense related to intangible assets totaled approximately $656 thousand and $655 thousand for the three months ended September 30, 2024 and September 30, 2023, respectively, and $2.0 million for the nine months ended September 30, 2024 and September 30, 2023.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration