Quarterly report [Sections 13 or 15(d)]

Intangible Assets

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Intangible Assets
 3 Months Ended
Mar. 31, 2026
Intangible Assets [Abstract]  
INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

 

The components of intangible assets, all of which are finite-lived, were as follows:

 

     March 31, 2026     December 31, 2025              
    Gross
Carrying  		     Accumulated
Amortization 		    Net
Carrying
Amount		     Gross
Carrying
Amount  		     Accumulated
Amortization		     Net
Carrying
Amount		     Weighted
Average
Useful
Life
(years)		     Useful
Life
(years)		  
(dollars in thousands)                                                
Trademarks   $ 13,339     $ (1,734 )   $ 11,605     $ 6,930     $ (1,488 )   $ 5,442       7.7       7 - 10  
FAA waiver     5,930       (2,759 )     3,171       5,930       (2,611 )     3,319       10.0       10  
Developed technology     161,061       (15,331 )     145,730       113,604       (12,276 )     101,328       9.9       3 - 10  
Non-compete agreements     3,521       (257 )     3,264       3,521       (37 )     3,484       4.0       1 - 4  
Customer relationships     150,635       (2,836 )     147,799       23,008       (982 )     22,026       8.1       5-10  
Other intangible assets     1,454       (509 )     945       2,040       (749 )     1,291       8.5       3 - 10  
Total   $ 335,940     $ (23,426 )   $ 312,514     $ 155,033     $ (18,143 )   $ 136,890                  

 

Amortization expense for the three months ended March 31, 2026 and 2025 was $5.6 million and $1.1 million, respectively. Other intangible assets represent patents, licenses, software, backlog and other marketing-related assets.