Quarterly report [Sections 13 or 15(d)]

Intangible Assets, Net

v3.26.1
Intangible Assets, Net
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets, net consisted of the following (amounts in thousands):
June 30, 2026
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Trade names $ 4,256  $ (2,094) $ 2,162 
Software development 14,836  (10,181) 4,655 
Agent relationships 10,038  (4,821) 5,217 
Know-how 430  (430) — 
Data usage 4,031  (470) 3,561 
$ 33,591  $ (17,996) $ 15,595 
December 31, 2025
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Trade names $ 4,256  $ (1,881) $ 2,375 
Software development 14,027  (7,743) 6,284 
Agent relationships 10,033  (4,105) 5,928 
Know-how 430  (405) 25 
Data-usage 4,031  (67) 3,964 
$ 32,777  $ (14,201) $ 18,576 
Estimated future amortization of intangible assets as of June 30, 2026 was as follows (amounts in thousands):
Years Ending December 31,
2026 (remaining) $ 5,601 
2027 2,682 
2028 2,581 
2029 2,023 
2030 1,834 
Thereafter 874 
Total $ 15,595 
The aggregate amortization expense for intangible assets was $2.5 million and $1.4 million, of which $2.0 million and $0.9 million was included in technology and development expense for the three months ended June 30, 2026 and 2025, respectively. During the three months ended June 30, 2026, the Company revised the estimated remaining useful life of certain internally developed software in connection with its decision to phase out and decommission the platform by September 30, 2026. As a result, the Company accelerated the amortization of the remaining carrying value of the affected software on a prospective basis. This change in estimate increased amortization expense recognized during the three months ended June 30, 2026.
The aggregate amortization expense for intangible assets was $3.8 million and $2.7 million, of which $2.8 million and $1.8 million was included in technology and development expense for the six months ended June 30, 2026 and 2025, respectively. As noted above, the Company revised the estimated remaining useful life of certain internally developed software, which prospectively accelerated the amortization of the remaining carrying value of the affected software. This change in accounting estimate increased amortization expense recognized during the six months ended June 30, 2026.