8. Intangible Assets

During the year ended March 31, 2026, the Company recognized identifiable intangible assets in connection with two acquisitions: Cal Microturbine which was accounted for as a business combination under ASC 805, and the acquisition of Capstone Distributor Support Services Corporation which was accounted for as an asset acquisition. The acquired intangible assets consist of customer relationships and trademark, respectively. The Company did not have any intangible assets as of March 31, 2025.

The acquired intangible assets have finite useful lives and are being amortized on a straight-line basis over their estimated useful lives. Amortization expense related to intangible assets was $0.4 million for the year ended March 31, 2026, and no amortization expense was recognized in the year ended March 31, 2025, due to the absence of such assets.

The recognition and measurement of intangible assets were determined as part of the allocation of the purchase price for each respective acquisition. For the acquisition of Cal Microturbine, intangible assets were recognized and measured in accordance with ASC 805, Business Combinations. For the acquisition of Capstone Distributor Support Services Corporation, intangible assets were recognized and measured in accordance with the asset acquisition framework under ASC 805-50. Additional information regarding the acquisition is included in Note 20 - Business Combinations.

Intangible assets consisted of the following (in thousands):

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Estimated future amortization expense for intangible assets as of March 31, 2026 is as follows (in thousands):

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