v3.26.1
Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets
4.
INTANGIBLE ASSETS

Intangible Assets, Net consists of the following:

 

 

June 30,
2026

 

 

December 31,
2025

 

Finite-Lived Intangible Assets

 

 

 

 

 

 

Customer Relationships

 

$

66,376

 

 

$

66,376

 

Trade Name

 

 

9,900

 

 

 

9,900

 

Total Intangible Assets

 

 

76,276

 

 

 

76,276

 

Accumulated Amortization

 

 

 

 

 

 

Customer Relationships

 

 

(61,463

)

 

 

(58,924

)

Trade Name

 

 

(9,900

)

 

 

(9,900

)

Total Accumulated Amortization

 

 

(71,363

)

 

 

(68,824

)

Intangible Assets, Net

 

$

4,913

 

 

$

7,452

 

Amortization expense was $1.3 million and $2.5 million for the three and six months ended June 30, 2026, respectively, and $1.4 million and $2.9 million for the three and six months ended June 30, 2025, respectively.

Amortization of Intangible Assets held at June 30, 2026 is expected to be $1.5 million for the remainder of the year ending December 31, 2026, and $0.7 million for each of the years ending December 31, 2027, 2028, 2029, and 2030. The intangible assets as of June 30, 2026 are expected to amortize over a weighted-average period of 4.1 years.