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

INTANGIBLE ASSETS

v3.26.1
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

5. INTANGIBLE ASSETS

 

Intangible assets consisted of the following:

 

    Internal Use Software     Capitalized Engineering Costs     Trade Name and Patents     Customer Relationships     Internally Developed Technology     Non-Compete Agreements     Accumulated Amortization     Total  
Balance as of January 1, 2024   $ 1,245     $ 1,265     $ 2,805     $ 18,224     $ 4,804     $ 1,730     $ (13,775 )   $ 16,298  
Amortization expense     -       -       -       -       -       -       (5,910 )     (5,910 )
Balance as of December 31, 2024     1,245       1,265       2,805       18,224       4,804       1,730       (19,685 )     10,388  
Additions     -       19       162       6       1,541       -       -       1,728  
Impairment     -       -       (166 )     (1,925 )     (175 )     (11 )      1,515       (762 )
Amortization expense     -       -       -       -       -       -       (4,720 )     (4,720 )
Balance as of December 31, 2025   $ 1,245     $ 1,284     $ 2,801     $ 16,305     $ 6,170     $ 1,719     $ (22,890 )   $ 6,634  
Weighted average remaining amortization period at December 31, 2025 (in years)     2.3       3.8       12.7       1.5       4.6       0.0                  
                                                                 
Useful Lives     3 - 5 Years       6 Years       13-17 Years       5 Years       5 Years       2 Years                  

 

    Internal Use Software     Capitalized Engineering Costs     Trade Name and Patents     Customer Relationships     Internally Developed Technology     Non-Compete Agreements     Accumulated Amortization  
Balance as of January 1, 2024   $ 721     $ -     $ 2,092     $ 6,592     $ 2,729     $ 1,641     $ 13,775  
Amortization expense     24       745       684       2,926       1,444       87       5,910  
Balance as of December 31, 2024     745       745       2,776       9,518       4,173       1,728       19,685  
Impairment     -       -       (166 )     (1,178 )     (160 )     (11 )     (1,515 )
Amortization expense     288       345       35       3,341       709       2       4,720  
Balance as of December 31, 2025   $ 1,033     $ 1,090     $ 2,645     $ 11,681     $ 4,722     $ 1,719     $ 22,890  

 

Amortization expense during the years ended December 31, 2025, 2024, and 2023 were $4,720, $5,910, and $7,556, respectively. Amortization expense is included within general and administrative expense during the years ended December 31, 2025, 2024, and 2023.

 

The Company determined that the carrying value of certain intangible assets had exceeded its undiscounted cash flows and, as a result, recorded an intangible asset impairment charge of $762, $0, and $5,143 in the consolidated statements of operations during the years ended December 31, 2025, 2024, and 2023, respectively.

 

See Note 3 - Business Combination for additional details.

 

The estimated future amortization expense is as follows:

 

For the Years Ending December 31,   Total  
2026   $ 3,599  
2027     1,927  
2028     481  
2029     336  
2030     175  
Thereafter     116  
Finite-lived intangible assets, net    $ 6,634  

 

 

BLINK CHARGING CO.

 

Notes to Consolidated Financial Statements

(dollars in thousands, except for share and per share amounts)