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Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Other Intangible Assets

9. Goodwill and Other Intangible Assets.

The following table summarizes the changes in goodwill:


Balance as of December 31, 2023	$	—
Goodwill resulting from the Bloomia Acquisition		10,122,000
Measurement period adjustment		766,000
Other - Foreign currency translation		(183,000)
Balance as of December 31, 2024	$	10,705,000
Measurement period adjustment		145,000
Other - Foreign currency translation		278,000
Balance as of June 30, 2025	$	11,128,000

The Company recorded measurement period adjustments which increased goodwill by $145,000 and $766,000 for the six months ended June 30, 2025 and calendar year 2024.

Other intangible assets and related amortization are as follows :


				June 30, 2025				December 31, 2024
	Carrying		Useful Life	Accumulated		Net Carrying		Accumulated		Net Carrying
	Amount		(Years)	Amortization		Amount		Amortization		Amount
Tradename	$	8,570,000	Indefinite	$	—	$	8,570,000	$	—	$	8,570,000
Customer relationships		18,300,000	12		2,064,000		16,236,000		1,302,000		16,998,000
	$	26,870,000		$	2,064,000	$	24,806,000	$	1,302,000	$	25,568,000

For the six months ended June 30, 2025 and calendar year 2024, amortization of intangible assets expensed to operations was $762,000 and $1,302,000, respectively. The weighted average remaining amortization period for intangible assets as of June 30, 2025 and December 31, 2024 was approximately 10.6 years and 11.1 years, respectively.

Remaining estimated aggregate annual amortization expense is as follows for the fiscal years ended June 30:


2026	$	1,525,000
2027		1,525,000
2028		1,525,000
2029		1,525,000
2030		1,525,000
Thereafter		8,611,000
Total	$	16,236,000