Quarterly report [Sections 13 or 15(d)]

Intangible Assets

v3.26.1
Intangible Assets
3 Months Ended
Mar. 31, 2026
Intangible Assets [Abstract]  
INTANGIBLE ASSETS
5. INTANGIBLE ASSETS

 

Intangible assets consist of internally developed software costs related to the Company's hosted business-to-business software platform. The platform is used by the Company to provide services to customers and is not sold, transferred, or licensed to customers for their possession. The Company accounts for these costs as internal-use software under ASC 350-40. No amortization was recorded because the software had not been placed in service and was not ready for its intended use.

 

The Company reviews all finite lived intangible assets for impairment when circumstances indicate that their carrying values may not be recoverable. If the carrying value of an asset group is not recoverable, the Company recognizes an impairment loss for the excess carrying value over the fair value in its consolidated statements of operations. The Company did not record an impairment loss during the three months ended March 31, 2026 and 2025, respectively.