v3.25.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]

6. Intangible Assets, Net

 

The following table details intangible assets (dollars in thousands):

 

      December 31, 2024   December 31, 2023 
Intangible Assets  Amortization
Period		  Cost   Accumulated
Amortization		   Net   Cost   Accumulated
Amortization		   Net 
Customer relationships  2-5 years  $7,812   $(7,762)  $50   $7,812   $(4,100)  $3,712 
Business technology/IP  5 years   2,765    (2,657)   108    2,675    (1,328)   1,347 
Capitalized internal-use software  3 years   1,648    (4)   1,644    -    -    - 
Total intangible assets     $12,225   $(10,423)  $1,802   $10,487   $(5,428)  $5,059 

  

Amortization expense was $2.1 million and $2.4 million for the years ended December 31, 2024, and 2023, respectively. Additionally, during the year ended December 31, 2024, the Company recorded an impairment charge of $3.0 million or 100% of its intangible assets in North America.

 

The estimated future amortization expense related to intangible assets as of December 31, 2024, is as follows (dollars in thousands):

 

Year  Amount 
2025  $580 
2026   640 
2027   568 
2028   14 
2029   - 
Total  $1,802