Quarterly report [Sections 13 or 15(d)]

Intangible Assets, net

v3.25.1
Intangible Assets, net
 3 Months Ended
Mar. 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
    Period   March 31, 2025   December 31, 2024
Customer Relationships   5.2   $ 17,325     $ 17,325  
Digital Networks   13.0     803       803  
Trade Names   66.2     9,970       9,970  
Intangible Assets, gross         28,098       28,098  
                     
Less Accumulated Amortization         (6,311 )     (5,822 )
Foreign Currency Translation Adjustment         (2,487 )     (2,555 )
Intangible Assets, net       $ 19,300     $ 19,722  

 

During the three months ended March 31, 2025 and 2024, the Company recorded intangible asset amortization expense of $0.5 million and $0.5 million, respectively.

 

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

     
Fiscal Year:    
2025   $ 1,469  
2026     1,959  
2027     1,959  
2028     1,959  
2029     1,959  
Thereafter     4,703  
Total   $ 14,008  

 

As of March 31, 2025, $5.3 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.