XML 34 R14.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Note 6 - Intangible Assets and Goodwill | 12 Months Ended
--- | ---
Dec. 31, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 6: INTANGIBLE ASSETS AND GOODWILL Intangible Assets Intangible assets consisted of the following at December 31, 2024 and 2023:
|  | December 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
|  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |
|  | Carrying |  |  | Accumulated |  |  | Carrying |  |  | Accumulated |
|  | Amount |  |  | Amortization |  |  | Amount |  |  | Amortization |
Technology platform |  | $ | 7,140 |  |  |  | 3,041 |  |  | $ | 6,900 |  |  |  | 2,255 |
Purchased and developed software |  |  | 13,780 |  |  |  | 5,006 |  |  |  | 5,284 |  |  |  | 3,405 |
In-Process internally developed software platform |  |  | - |  |  |  | - |  |  |  | 6,080 |  |  |  | - |
Customer relationships |  |  | 13,910 |  |  |  | 4,350 |  |  |  | 13,910 |  |  |  | 3,054 |
Trademarks and trade names |  |  | 1,260 |  |  |  | 852 |  |  |  | 1,260 |  |  |  | 660 |
Noncompete |  |  | - |  |  |  | - |  |  |  | 30 |  |  |  | 28 |
Total amortizable intangible assets |  |  | 36,090 |  |  |  | 13,249 |  |  |  | 33,464 |  |  |  | 9,402 |
Accumulated amortization |  |  | 13,249 |  |  |  |  |  |  |  | 9,402 |  |  |  |  |
Net book value of amortizable intangible assets |  | $ | 22,841 |  |  |  |  |  |  | $ | 24,062 |  |  |  |  |
For the years ended December 31, 2024 and 2023, amortization of intangible assets charged to operations was $3,877 and $3,055, respectively. For the year ended December 31, 2024, the Company wrote-off a $30 fully amortized noncompete asset and the related accumulated amortization. For the year ended December 31, 2023, the Company wrote-off a $340 fully amortized trade name asset, a $1,090 fully amortized customer list asset, a $2,864 fully amortized technology asset, a $758 fully amortized capitalized software and the related accumulated amortization. There was no impact on the Company’s Consolidated Balance Sheet or Consolidated Statement of Operations as a result of these write-offs during the period. Estimated amortization is as follows:
|  | Estimated Future |
Year ending December 31, |  | Amortization |
2025 |  | $ | 4,390 |
2026 |  |  | 3,757 |
2027 |  |  | 3,199 |
2028 |  |  | 2,889 |
2029 |  |  | 2,889 |
Thereafter |  |  | 5,717 |
Total |  | $ | 22,841 |
Intangible assets include the following and are being amortized over their estimated useful lives as follows:
|  | Amortization |
|  | Period: |
Acquired Intangible Asset: |  | (years) |
Technology platform and patents |  | 3 - 10 |
Purchased and developed software |  | 3 - 7 |
Trade names |  | 5 |
Customer relationships |  | 10 - 15 |
Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is subject to an impairment review at a reporting unit level, on an annual basis at September 30th each fiscal year, when an event occurs, or circumstances change that would indicate potential impairment. The Company has only one reporting unit, and therefore the entire goodwill is allocated to that reporting unit. Using the quantitative approach, fair value of the reporting unit is estimated using both (1) a market approach, leveraging recent industry merger and acquisition activity as well as comparable public company information, and (2) a discounted cash flow analyses consisting of various assumptions, including expectations of future cash flows based on projections or forecasts derived from analysis of business prospects and economic or market trends that may occur. Specifically, the Company gives significant consideration to actual historic financial results, including revenue growth rates in the current and preceding three years, further informed by known backlog and customer acquisitions. Using the qualitative approach, the Company reviews macroeconomic conditions, industry and market conditions and entity specific factors, including strategies and financial performance for potential indicators of impairment. The Company performed its annual impairment of goodwill qualitatively in 2024, and quantitatively in 2023 to determine whether it is more likely than not that the fair value of our reporting unit is below its carrying amount. Based on the Company’s assessment, we determined that the fair value of our reporting unit exceeded its carrying value, and accordingly, the goodwill associated with the reporting unit was not considered to be impaired at September 30, 2024 and 2023. No indicators of potential impairment were identified as of December 31, 2024. We believe our implied fair value continues to exceed our total carrying value as of December 31, 2024. The Company recognizes that any changes in our projected 2025 results could potentially have a material impact on our assessment of goodwill impairment. The Company will continue to monitor the actual performance of its operations against expectations and assess indicators of possible impairment. The valuation of goodwill and intangible assets is subject to a high degree of judgment, uncertainty and complexity. Should any indicators of impairment occur in subsequent periods, the Company will be required to perform an analysis in order to determine whether goodwill is impaired.

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