Quarterly report [Sections 13 or 15(d)]

Intangible Assets, net

v3.25.2
Intangible Assets, net
 6 Months Ended
Jun. 30, 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   June 30, 2025     December 31, 2024  
Customer Relationships   5.0   $ 17,325     $ 17,325  
Digital Networks   12.8     803       803  
Trade Names   65.9     9,970       9,970  
Intangible Assets, gross         28,098       28,098  
                     
Less Accumulated Amortization         (6,821 )     (5,822 )
Foreign Currency Translation Adjustment         (1,873 )     (2,555 )
Intangible Assets, net       $ 19,404     $ 19,722  

 

During the three months ended June 30, 2025 and 2024, the Company recorded intangible asset amortization expense of $0.5 million and $0.5 million, respectively. During the six months ended June 30, 2025 and 2024, the Company recorded intangible asset amortization expense of $1.0 million and $1.0 million, respectively.

 

Expected future amortization of intangible assets subject to amortization as of June 30, 2025 is as follows (in thousands):

       
Fiscal Year:      
2025   $ 1,020  
2026     2,040  
2027     2,040  
2028     2,040  
2029     2,040  
Thereafter     4,724  
Total   $ 13,904  

 

As of June 30, 2025, $5.5 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.