INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2026

Finite-Lived Intangible Assets, Net [Abstract]

3. INTANGIBLE ASSETS

Intangible assets consist of finite and indefinite life assets. The following is a summary of the Company’s intangible assets as of March 31, 2026 (in thousands, except amortization period):


	Cost		Accumulated Amortization and Impairment			Net Balance		Weighted Average Amortization Period (in years)
Retail concession agreements	$	604,700	$	(109,072	)	$	495,628		39
Destination resort agreements		17,900		(11,989	)		5,911		15
Trade name		6,200		(800	)		5,400	Indefinite-life
Licensing agreement		1,000		(1,000	)		—		8
	$	629,800	$	(122,861	)	$	506,939

The following is a summary of the Company’s intangible assets as of December 31, 2025 (in thousands, except amortization period):


	Cost		Accumulated Amortization and Impairment			Net Balance		Weighted Average Amortization Period (in years)
Retail concession agreements	$	604,700	$	(105,195	)	$	499,505		39
Destination resort agreements		17,900		(11,798	)		6,102		15
Trade name		6,200		(800	)		5,400	Indefinite-life
Licensing agreement		1,000		(1,000	)		—		8
	$	629,800	$	(118,793	)	$	511,007

The Company amortizes intangible assets with definite lives on a straight-line basis over their estimated useful lives. Amortization expense for the three months ended March 31, 2026 and 2025 was $4.1 million for each period, respectively. Amortization expense is estimated to be $16.5 million in each of the next five years beginning in 2026.

ONESPAWORLD HOLDINGS Ltd 10-Q