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Intangible Assets, net
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, net

Note 9: Intangible Assets, net

 

Intangible Assets, net

 

The Company had the following intangible assets (in thousands) with their weighted average remaining amortization period (in years):

 

Intangible Assets, net

               
   Weighted Average Remaining Amortization   As of December 31, 
   Period   2025   2024 
Customer Relationships   4.5   $17,325   $17,325 
Digital Networks   12.3    803    803 
Trade Names   65.4    9,198    9,970 
Intangible Assets, gross        27,326    28,098 
                
Less Accumulated Amortization        (7,833)   (5,822)
Foreign Currency Translation Adjustment        (1,889)   (2,554)
Intangible Assets, net       $17,604   $19,722 

 

During the years ended December 31, 2025 and December 31, 2024, the Company recorded intangible asset amortization expense of $2.0 million and $2.0 million, respectively.

 

Pursuant to ASC 350-30, General Intangibles Other than Goodwill, the Company evaluates its intangible assets periodically to determine whether events or changes in circumstances indicate that their carrying values may not be recoverable. During the year ended December 31, 2025, changes in the Company’s financial projections triggered a reassessment of both its definite- and indefinite-lived intangible assets for potential impairment. Based on this analysis, the Company recorded an impairment charge of $0.8 million, recognized as Impairment of Intangible Assets within Operating Expenses in the consolidated statement of operations. The impairment related to the Frederator and Wow Tradenames, which are indefinite-lived intangible assets, due to a reduction in the estimated present value of their expected future cash flows. No impairment charges were recognized in the prior year ended December 31, 2024.

 

Expected future amortization of intangible assets subject to amortization as of December 31, 2025 is as follows (in thousands):

     
Fiscal Year:    
2026  $2,039 
2027   2,039 
2028   2,039 
2029   2,039 
2030   669 
Thereafter   4,054 
Total  $12,879 

 

As of December 31, 2025, $4.7 million of the Company’s intangible assets related to the acquired trade names from the Wow acquisition had indefinite lives and are not subject to amortization.