Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. INTANGIBLE ASSETS

The fair value of intangible assets and their estimated useful live as of December 31, 2022 are as follows (dollars in thousands):

	Useful Life	Gross Amount		Accumulated Amortization		Net Book Value
Customer relationships	8 and 10 years	$	2,680	$	424	$	2,256
Developed technology	5 and 7 years		710		180		530
Trade name / trademarks	3 and 7 years		30		10		20
		$	3,420	$	614	$	2,806

The fair value of intangible assets and their estimated useful live as of December 31, 2021 are as follows (dollars in thousands):

	Useful Life	Gross Amount		Accumulated Amortization		Net Book Value
Customer relationships	8 and 10 years	$	2,680	$	132	$	2,548
Developed technology	5 and 7 years		710		63		647
Tradenames	3 and 7 years		30		3		27
		$	3,420	$	198	$	3,222

During the years ended December 31, 2022 and 2021 we recorded $415 thousand and $176 thousand of amortization expense on intangible assets, respectively. The Company expects to record amortization for the years ended December 31 as follows (in thousands):

2023	$	415
2024		415
2025		415
2026		412
2027		412
Thereafter		737
	$	2,806