The following is a summary of the Company’s acquired other intangible assets (dollars in thousands):


	June 30, 2025
	Weighted average amortization period (in years)	Gross carrying amount		Accumulated amortization		Net carrying amount
Market related intangibles	5	$	1,820	$	1,645	$	175
Customer relationships	7		13,780		12,403		1,377
Developed technologies	11		4,380		2,150		2,230
Covenants to non-compete	2		115		115		—
Licensed technology	3		581		145		436
Total intangible assets, net		$	20,676	$	16,458	$	4,218


	December 31, 2024
	Weighted average amortization period (in years)	Gross carrying amount		Accumulated amortization		Net carrying amount
Market related intangibles	5	$	1,820	$	1,475	$	345
Customer relationships	7		13,780		11,266		2,514
Developed technologies	11		4,380		1,973		2,407
Covenants to non-compete	2		115		115		—
Licensed technology	3		581		48		533
Total intangible assets, net		$	20,676	$	14,877	$	5,799

Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.

No impairment losses were recorded against the other intangibles during each of the six months ended June 30, 2025 and 2024.

During the six months ended June 30, 2025, the Company determined that there were no triggering events or circumstances to indicate that the carrying value of the finite-lived asset group may not be recoverable. Based on the assessment performed, we concluded that an impairment charge to finite-lived intangible assets was not required as of June 30, 2025 and the useful lives remain appropriate.

No impairment losses were recorded against goodwill during the three months ended June 30, 2025 and 2024.

The Company evaluated the goodwill impairment considerations as of June 30, 2025 and determined that there were no events or circumstances that indicated that the fair value of a reporting unit is more likely than not, less than its carrying amount. The first and second quarter 2025 tariff increases by the United States and other countries have increased the uncertainty in our business environment. But the impact of the tariff increases on our Company have been mitigated by a few factors. Most of our products are under specific categories that are exempt from the increased tariffs. Many of our products are sold to the ODM customers who are not subject to the increased tariffs. We source our supplies in tariff favorable regions. During the six months ended June 30, 2025, the Company's current and forecasted sales, cash flows, and excess market capitalization over net assets are reasonable when compared to the quarters in the past two years. After assessing the totality of events and circumstances, the Company determined that there were no events or circumstances as of June 30, 2025 that indicate that it is more likely than not that the fair value of a reporting unit may be less than its carrying amount. Based on the assessment performed, we concluded that an impairment charge to goodwill was not required.

Certain future events and circumstances could result in changes to our assumptions and judgments used in the impairment tests. A downward revision of these assumptions could cause the total fair value of our goodwill and intangible assets to fall below carrying values and a non-cash impairment charge would be required. Such a charge may have a material effect on the consolidated financial statements.