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GOODWILL AND INTANGIBLE ASSETS (Tables) | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | Changes in the amount of the carrying value of goodwill for the six months ended June 30, 2025, are as follows:
(in thousands) |  |
Balance - January 1, 2025 |  | $ | 30,744 |
Impact of foreign currency translation adjustments |  | 1,693 |
Balance – June 30, 2025 |  | $ | 32,437 |
Goodwill was comprised of the following at June 30, 2025, and December 31, 2024:
(in thousands) |  | June 30, 2025 |  | December 31, 2024
Electronic Test |  | $ | 14,018 |  |  | $ | 12,567 |
Environmental Technologies |  | 1,817 |  |  | 1,817 |
Process Technologies |  | 16,602 |  |  | 16,360 |
Total goodwill |  | $ | 32,437 |  |  | $ | 30,744 |
Schedule of Indefinite-Lived Intangible Assets | Changes in the amount of the carrying value of our intangible assets for the six months ended June 30, 2025 were as follows:
(in thousands) |  | Finite-Lived |  | Indefinite-Lived
Balance - January 1, 2025 |  | $ | 16,201 |  |  | $ | 10,175 |
Impact of foreign currency translation adjustments |  | 1,590 |  |  | 344 |
Amortization |  | (1,663) |  |  | — |
Balance – June 30, 2025 |  | $ | 16,128 |  |  | $ | 10,519 |
The following tables provide further detail about our intangible assets as of June 30, 2025, and December 31, 2024:
|  | June 30, 2025
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |
Customer relationships |  | $ | 25,247 |  |  | $ | 12,756 |  |  | $ | 12,491 |
Technology |  | 6,302 |  |  | 2,665 |  |  | 3,637 |
Patents |  | 590 |  |  | 590 |  |  | — |
Backlog |  | — |  |  | — |  |  | — |
Software |  | 270 |  |  | 270 |  |  | — |
Trade name |  | 140 |  |  | 140 |  |  | — |
Total finite-lived intangible assets |  | 32,549 |  |  | 16,421 |  |  | 16,128 |
Indefinite-lived intangible assets: |  |  |  |  |  |
Trademarks |  | 10,519 |  |  | — |  |  | 10,519 |
Total intangible assets |  | $ | 43,068 |  |  | $ | 16,421 |  |  | $ | 26,647 |
|  | December 31, 2024
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |
Customer relationships |  | $ | 23,912 |  |  | $ | 11,496 |  |  | $ | 12,416 |
Technology |  | 5,786 |  |  | 2,001 |  |  | 3,785 |
Patents |  | 590 |  |  | 590 |  |  | — |
Backlog |  | 481 |  |  | 481 |  |  | — |
Software |  | 270 |  |  | 270 |  |  | — |
Trade name |  | 140 |  |  | 140 |  |  | — |
Total finite-lived intangible assets |  | 31,179 |  |  | 14,978 |  |  | 16,201 |
Indefinite-lived intangible assets: |  |  |  |  |  |
Trademarks |  | 10,175 |  |  | — |  |  | 10,175 |
Total intangible assets |  | $ | 41,354 |  |  | $ | 14,978 |  |  | $ | 26,376 |
Schedule of Finite-Lived Intangible Assets | Changes in the amount of the carrying value of our intangible assets for the six months ended June 30, 2025 were as follows:
(in thousands) |  | Finite-Lived |  | Indefinite-Lived
Balance - January 1, 2025 |  | $ | 16,201 |  |  | $ | 10,175 |
Impact of foreign currency translation adjustments |  | 1,590 |  |  | 344 |
Amortization |  | (1,663) |  |  | — |
Balance – June 30, 2025 |  | $ | 16,128 |  |  | $ | 10,519 |
The following tables provide further detail about our intangible assets as of June 30, 2025, and December 31, 2024:
|  | June 30, 2025
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |
Customer relationships |  | $ | 25,247 |  |  | $ | 12,756 |  |  | $ | 12,491 |
Technology |  | 6,302 |  |  | 2,665 |  |  | 3,637 |
Patents |  | 590 |  |  | 590 |  |  | — |
Backlog |  | — |  |  | — |  |  | — |
Software |  | 270 |  |  | 270 |  |  | — |
Trade name |  | 140 |  |  | 140 |  |  | — |
Total finite-lived intangible assets |  | 32,549 |  |  | 16,421 |  |  | 16,128 |
Indefinite-lived intangible assets: |  |  |  |  |  |
Trademarks |  | 10,519 |  |  | — |  |  | 10,519 |
Total intangible assets |  | $ | 43,068 |  |  | $ | 16,421 |  |  | $ | 26,647 |
|  | December 31, 2024
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |
Customer relationships |  | $ | 23,912 |  |  | $ | 11,496 |  |  | $ | 12,416 |
Technology |  | 5,786 |  |  | 2,001 |  |  | 3,785 |
Patents |  | 590 |  |  | 590 |  |  | — |
Backlog |  | 481 |  |  | 481 |  |  | — |
Software |  | 270 |  |  | 270 |  |  | — |
Trade name |  | 140 |  |  | 140 |  |  | — |
Total finite-lived intangible assets |  | 31,179 |  |  | 14,978 |  |  | 16,201 |
Indefinite-lived intangible assets: |  |  |  |  |  |
Trademarks |  | 10,175 |  |  | — |  |  | 10,175 |
Total intangible assets |  | $ | 41,354 |  |  | $ | 14,978 |  |  | $ | 26,376 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table sets forth the estimated annual amortization expense for each of the next five years:
(in thousands) |  |
Remaining 2025 |  | $ | 1,699 |
2026 |  | 2,608 |
2027 |  | 2,057 |
2028 |  | 1,699 |
2029 |  | 1,364 |
Thereafter |  | 6,701 |
Total estimated amortization of finite-lived intangible assets |  | $ | 16,128 |

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