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INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS Intangible Assets Intangible assets consisted of the following as of September 30, 2024 and December 31, 2023 (in thousands):
| Useful lives |  | 2024 |  | 2023
INTANGIBLE ASSETS |  |  |  |  |
Patents | 4-10 years |  | $ | 182 |  |  | $ | 182 |
Customer relationships | 8-15 years |  | 54,795 |  |  | 52,588 |
Technology | 3-5 years |  | 9,118 |  |  | 8,944 |
Domain | 7 years |  | 14 |  |  | 14 |
Non-compete | 3 years |  | 391 |  |  | 391 |
Tradenames | 2-10 years |  | 13,045 |  |  | 12,723 |
Intangible assets, at cost |  |  | 77,545 |  |  | 74,842 |
Accumulated amortization |  |  | (35,843) |  |  | (28,878) |
Intangible assets, net of accumulated amortization |  |  | $ | 41,702 |  |  | $ | 45,964 |
For the three months ended September 30, 2024 and 2023, the Company recorded amortization expense of $1.9 million and $2.1 million, respectively. For the nine months ended September 30, 2024 and 2023, the Company recorded amortization expense of $5.7 million and $6.4 million, respectively. Changes to gross carrying amount of recognized intangible assets due to translation adjustments include approximately $2.5 million as of September 30, 2024 and ($0.1) million as of December 31, 2023. During the quarter ended September 30, 2024, the Company determined that a triggering event had occurred as a result of a decline in the Company’s revenues resulting from lower sales volume primarily resulting from lower global demand for interactive flat panel displays, which suggested one or more of the reporting units may have fallen below the carrying amounts. As a result, the Company performed an interim impairment test on its finite-lived intangible assets using undiscounted cash flows. There was no impairment recorded on finite-lived intangible assets during the nine months ended September 30, 2024. Goodwill During the quarter ended September 30, 2023, due to further declines in the Company’s market capitalization and a reduction in cashflows resulting from continued softening in the industry leading to a reduction in sales from interactive flat-panel displays, the Company determined that a triggering event had occurred. As of September 30, 2023, the Company performed an interim goodwill impairment test as a result of the triggering events identified. In analyzing goodwill for potential impairment in the quantitative impairment test, the Company used a combination of the income and market approaches to estimate the fair value. Certain estimates and assumptions, including the Company’s operating forecast for 2023 and future periods, were revised based on current industry and Company trends. For the three and nine months ended September 30, 2023, the Company recorded goodwill impairment charges of $10.4 million and $2.8 million to the Americas and EMEA reporting units, respectively, which also represents total accumulated goodwill impairment charges for each reporting unit.

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- 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
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