| Intangible Assets, net |
Note H – Intangible Assets, net
The intangible assets gross carrying amount and accumulated amortization were as follows:
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|
December 31, 2024 |
|
Gross
carrying
amount |
|
Accumulated
amortization |
|
Net
carrying
amount |
|
Weighted average
useful life
in years |
Finite-lived intangible assets: |
|
|
|
|
|
|
|
Customer relationships |
$ |
39,606 |
|
|
$ |
(8,403) |
|
|
$ |
31,203 |
|
|
21 |
Technology |
33,379 |
|
|
(12,351) |
|
|
21,028 |
|
|
15 |
Trademarks |
3,172 |
|
|
(2,050) |
|
|
1,122 |
|
|
9 |
|
|
|
|
|
|
|
|
| Internal-use software licenses |
8,760 |
|
|
(3,116) |
|
|
5,644 |
|
|
6 |
In-process internal-use software |
2,491 |
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|
— |
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|
2,491 |
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|
|
Indefinite-lived intangible assets: |
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|
|
|
|
|
|
Cosmos Tradename |
300 |
|
|
— |
|
|
300 |
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|
|
|
|
|
|
|
|
|
|
Total intangible assets |
$ |
87,708 |
|
|
$ |
(25,920) |
|
|
$ |
61,788 |
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| |
December 31, 2023 |
| |
Gross
carrying
amount |
|
Accumulated
amortization |
|
Net
carrying
amount |
|
|
Weighted average
useful life
in years |
Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
Customer relationships |
$ |
39,824 |
|
|
$ |
(6,181) |
|
|
$ |
33,643 |
|
|
|
21 |
Technology |
32,861 |
|
|
(8,833) |
|
|
24,028 |
|
|
|
15 |
Trademarks |
3,172 |
|
|
(1,684) |
|
|
1,488 |
|
|
|
9 |
| Internal-use software licenses |
3,256 |
|
|
(1,811) |
|
|
1,445 |
|
|
|
4 |
In-process internal-use software |
2,081 |
|
|
— |
|
|
2,081 |
|
|
|
|
Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
Cosmos Tradename |
300 |
|
|
— |
|
|
300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets |
$ |
81,494 |
|
|
$ |
(18,509) |
|
|
$ |
62,985 |
|
|
|
|
There was no impairment recognized related to intangible assets during the year ended December 31, 2024 and 2023, respectively.
The table below presents the amortization expense related to intangible assets for the following periods:
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Year Ended |
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| |
|
|
|
|
December 31, 2024 |
|
December 31, 2023 |
|
|
|
Amortization expense |
|
|
|
|
$ |
7,625 |
|
|
$ |
7,212 |
|
|
|
|
The table below presents the future amortization expense on intangible assets as of December 31, 2024:
|
|
|
|
|
|
| Year |
Total |
| 2025 |
$ |
7,108 |
|
| 2026 |
6,473 |
|
| 2027 |
6,077 |
|
| 2028 |
5,597 |
|
| 2029 |
5,238 |
|
| Thereafter |
28,504 |
|
| Total future amortization expense on intangible assets |
$ |
58,997 |
|
|