Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

5. INTANGIBLE ASSETS

The carrying value of intangible assets and their estimated useful live as of December 31, 2023 are as follows (dollars in thousands):

	Useful Life	Gross Amount		Accumulated Amortization			Net Book Value
Customer relationships	8 and 10 years	$	2,680	$	(715	)	$	1,965
Developed technology	5 and 7 years		710		(297	)		413
Trade name / trademarks	3 and 7 years		30		(17	)		13
		$	3,420	$	(1,029	)	$	2,391

The carrying 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

During the years ended December 31, 2023 and 2022 we recorded $0.4 million of amortization expense on intangible assets. The Company expects to record amortization for the years ended December 31 as follows (in thousands):

2024	$	415
2025		405
2026		356
2027		345
2028		338
Thereafter		532
	$	2,391