Quarterly report [Sections 13 or 15(d)]

Goodwill

v3.25.2
Goodwill
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
The carrying value of goodwill, as of June 30, 2025 and December 31, 2024, was $92.2 million and $89.3 million, respectively. No goodwill impairment was required during either of the three and six months ended June 30, 2025 and 2024. In June 2025, due to a continued period of uncertain trade policy and the impact of increased tariffs and duties between countries, the Company revised its forecasts for each of its reporting units. These revisions and a continued decrease in the Company’s stock price were identified as triggering events and a subsequent quantitative test concluded that the fair value of each of the Company’s reporting units exceeded their carrying values as of June 30, 2025. As of the testing date, the estimated fair value of the mnml reporting unit exceeded the carrying value by 4.6% and the carrying value of the related goodwill was $30.0 million.
The following table summarizes goodwill activity:
Balance as of December 31, 2024
 $ 89,254 
Changes in foreign currency translation
 2,968 
Balance as of June 30, 2025
 $ 92,222