Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible Assets

v3.26.1
Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Intangible assets, net consisted of the following as of December 31, 2025 (in thousands):
Gross Carrying Amount
Accumulated Amortization
Net Value
Remaining Useful Life (Years)
Customer relationships
$
40,200
$
(9,422)
$
30,778
12.25
Total:
$
40,200
$
(9,422)
$
30,778
Intangible assets, net consisted of the following as of December 31, 2024 (in thousands):
Gross Carrying Amount
Accumulated Amortization
Net Value
Remaining Useful Life (Years)
Customer relationships
$
40,200
$
(6,909)
$
33,291
13.25
Trade name
7,400
(2,908)
4,492
4.25
Total:
$
47,600
$
(9,817)
$
37,783

As of December 31, 2025, future amortization expense is expected to be as follows (in thousands):

2026
$
2,513
2027
2,513
2028
2,513
2029
2,513
2030
2,513
Thereafter
18,213
Total
$
30,778