Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Note 10. Goodwill and Intangible Assets

Goodwill

The following table represents the changes in the carrying value of goodwill as of June 30, 2026 and December 31, 2025 (in thousands):


		June 30,			December 31,
		2026			2025
Balance at beginning of period
Goodwill		$	126,532		$	124,701
Accumulated impairment losses			(104,132)			(104,132)
Subtotal			22,400			20,569

Activity during the period
Foreign currency adjustment			(332)			1,831

Balance at end of period
Goodwill			126,200			126,532
Accumulated impairment losses			(104,132)			(104,132)
Total		$	22,068		$	22,400

Intangible Assets

The following table presents our intangible assets as of June 30, 2026 (in thousands):


														Weighted
											Net			Average
		Gross			Accumulated			Accumulated			Carrying			Amortization
		Amount			Amortization			Impairment			Amount			Period (years)
Non-compete agreement		$	390		$	390		$	—		$	—		—
Technology			49,155			19,506			—			29,649		6
Customer relationships			125,712			50,353			—			75,359		9
Trade name/trademark			791			272			(265)			254		8
Order backlog			2,600			2,600			—			—		—
Land use rights			2,292			350			—			1,942		32
Patents and trademarks			37,989			221			(8,980)			28,788		—
Total		$	218,929		$	73,692		$	(9,245)		$	135,992

The following table presents our intangible assets as of December 31, 2025 (in thousands):


														Weighted
											Net			Average
		Gross			Accumulated			Accumulated			Carrying			Amortization
		Amount			Amortization			Impairment			Amount			Period (years)
Non-compete agreement		$	390		$	390		$	—		$	—		—
Technology			45,363			17,407			—			27,956		7
Customer relationships			125,808			46,026			—			79,782		9
Trade name/trademark			791			256			(265)			270		8
Order backlog			2,600			2,600			—			—		—
Land use rights			2,226			310			—			1,916		32
Patents and trademarks			37,359			221			(8,980)			28,158		—
Total		$	214,537		$	67,210		$	(9,245)		$	138,082

Amortization expense for intangible assets for the three and six months ended June 30, 2026 was $3.4 million and $6.5 million, respectively. Amortization expense for intangible assets for the three and six months ended June 30, 2025 was $3.1 million and $6.3 million, respectively.

Expected future amortization of intangible assets as of June 30, 2026 is as follows (in thousands):


Years Ending December 31,	Amount
2026 (excluding the six months ended June 30, 2026)	$	6,715
2027		13,423
2028		13,423
2029		13,310
2030		13,230
Thereafter		46,555
	$	106,656