XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.24.3

Goodwill and Intangible Assets, Net | 9 Months Ended
--- | ---
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, Net Goodwill as of September 30, 2024 was $10.9 million, which resulted from the Credova Merger (See Note 5) and is included in the Financial Technology segment. The following table summarizes intangible assets, net:
| Useful Life |  | September 30, 2024 |  | December 31, 2023
Capitalized software development costs | 1-5 years |  | $ | 7,748,105 |  |  | $ | 5,011,519 |
Trademark and tradenames | 5 years |  | 1,700,000 |  |  | — |
Internally developed software | 3 years |  | 3,600,000 |  |  | — |
Merchant relationships | 5 years |  | 5,900,000 |  |  | — |
State operating licenses | Indefinite |  | 520,000 |  |  | — |
Purchased technology | 1-15 years |  | 247,489 |  |  | 247,489 |
Brand name | 10 years |  | 1,377,461 |  |  | 1,377,461 |
Total intangible assets |  |  | 21,093,055 |  |  | 6,636,469 |
Less: Accumulated amortization |  |  | (5,144,677) |  |  | (3,079,440) |
Total intangible assets, net |  |  | $ | 15,948,378 |  |  | $ | 3,557,029 |
Amortization expenses were approximately $0.9 million and $0.7 million for the three months ended September 30, 2024 and 2023, respectively, and $2.1 million and $2.0 million for the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, estimated future amortization expense is expected as follows:
Remainder of 2024 | $ | 1,168,960 |
2025 | 3,793,004 |
2026 | 3,793,004 |
2027 | 2,791,739 |
2028 | 2,894,054 |
Thereafter | 1,507,617 |
| $ | 15,948,378 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
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