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

Goodwill and Intangible Assets (Tables)

v3.25.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Carrying Value of Goodwill
The changes in the carrying value of goodwill are as follows:

Goodwill balance, January 1, 2024 $ 13,328 
Additions (1) 2,212 
Goodwill balance, December 31, 2024 $ 15,540 
Additions (1) 72,670 
Goodwill balance, December 31, 2025 $ 88,210 
(1) Additions represent goodwill associated with the acquisition of CJK and Keystone during 2024 and 2025, respectively. See Note 4 for additional information.
Schedule of Finite-Lived Intangible Assets
The following table presents information about the Company’s intangible assets as of:

December 31, 2025 December 31, 2024
Estimated Useful Life
Gross
Carrying
Amount
Accumulated
Amortization

 
Net
Gross
Carrying
Amount

Accumulated
Amortization

Net
Customer list (1)
3-10 years
 $ 42,500  $ (5,382) $ 37,118  $ 10,600  $ (3,533) $ 7,067 
Trademarks (1)
6-10 years
 9,800  (938) 8,862  1,000  (556) 444 
Developed technology (1)
3 years
 2,167  (645) 1,522  726  (273) 453 
Total $ 54,467  $ (6,965) $ 47,502  $ 12,326  $ (4,362) $ 7,964 
(1) Includes intangible assets recognized in connection with the Keystone and Trinity acquisitions. Developed technology also includes capitalized internal-use software development costs.
Schedule of Indefinite-Lived Intangible Assets
The following table presents information about the Company’s intangible assets as of:

December 31, 2025 December 31, 2024
Estimated Useful Life
Gross
Carrying
Amount
Accumulated
Amortization

 
Net
Gross
Carrying
Amount

Accumulated
Amortization

Net
Customer list (1)
3-10 years
 $ 42,500  $ (5,382) $ 37,118  $ 10,600  $ (3,533) $ 7,067 
Trademarks (1)
6-10 years
 9,800  (938) 8,862  1,000  (556) 444 
Developed technology (1)
3 years
 2,167  (645) 1,522  726  (273) 453 
Total $ 54,467  $ (6,965) $ 47,502  $ 12,326  $ (4,362) $ 7,964 
(1) Includes intangible assets recognized in connection with the Keystone and Trinity acquisitions. Developed technology also includes capitalized internal-use software development costs.
Schedule of Estimated Amortization Expense
As of December 31, 2025, the estimated amortization expense of finite-lived intangible assets for each of the next five years are as follows:
For the Year Ended December 31,
2026 $ 5,914 
2027 5,801 
2028 5,437 
2029 5,116 
2030 5,116 
Thereafter 20,118 
Total $ 47,502