Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 760

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 8
Chunk 760
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			Internal-use software in process (1)

			21

			50

			Trademarks

			Indefinite

			389

			389

			Deferred financing costs, net

			3
			–
			5

			15

			19

			Total other intangibles, net

			6,557

			8,290

			Goodwill

			Indefinite

			5,198

			5,198

			Total goodwill and other intangibles, net

			$
			11,755

			13,488

(1) Internal-use software at September 30, 2024 has been reclassified from other intangibles to be consistent with the current year presentation.

Amortization expense was $1.9 million, $1.7 million and $1.5 million for the years ended September 30, 2025, 2024 and 2023, respectively.

Future aggregate amortization expense associated with intangible assets for the fiscal years subsequent to 2025 is estimated to be approximately as follows, dollars in thousands:

			Fiscal year 

			Amortization
			expense

			2026

			$
			1,799

			2027

			1,642

			2028

			1,405

			2029

			1,305

			2030

			5

			Thereafter

			12

			Total amortization expense

			$
			6,168

Capitalized costs for internal-use software implementation and development were $0.2 million, $1.1 million and $1.1 million for the years ended September 30, 2025, 2024 and 2023, respectively, primarily due to capitalization of costs incurred related to external consultants.

10. Accrued Expenses

The composition of accrued expenses as of September 30, 2025 and 2024 is summarized as follows, dollars in thousands:

			As of September 30,

			2025

			2024

			Payroll and employee-related expenses

			$
			23,208

			21,874

			Accrued property, sales and use tax payable

			10,028

			9,607

			Accrued marketing expenses