Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 10 – Intangible Assets and Goodwill

Intangible assets

The Company’s identifiable intangible assets as of June 30, 2025 and December 31, 2024 are shown below (in thousands except for lives):


	Remaining		Carrying Value					Carrying Value
	Life		December 31,					June 30,
	(years)		2024		Amortization			2025
Amortizable intangible assets:
Trade Name (ALT)		16.2	$	542	$	(16	)	$	526
Vendor Relationship (ALT)		1.2		383		(115	)		268
Total amortizable intangible assets				925		(131	)		794

Indefinite-lived intangible assets:
Trade Name (NLEX)	N/A			2,437		—			2,437
Total intangible assets			$	3,362	$	(131	)	$	3,231

Amortization expense during the six months ended June 30, 2025 and 2024 was $0.1 million and $0.2 million, respectively. The Company estimates that the residual value for intangible assets is not significant.

As of June 30, 2025, the estimated amortization expense for the remainder of the current fiscal year and the next five fiscal years and thereafter is shown below (in thousands):


Year	Amount
2025 (remainder of year from July 1, 2025 to December 31, 2025)	$	131
2026		186
2027		33
2028		33
2029		33
Thereafter		379
Total estimated amortization expense	$	794

Goodwill

The Company’s goodwill relates to its acquisition of various entities. Goodwill consists of the following at June 30, 2025 and December 31, 2024 (in thousands):


	June 30, 2025		December 31, 2024
ALT	$	1,861	$	1,861
HGP		2,041		2,041
NLEX		3,544		3,544
Total goodwill	$	7,446	$	7,446

There were no additions to goodwill and no impairments recorded to the carrying value of goodwill during the six months ended June 30, 2025.