Intangibles, net

3 Months Ended

Jul. 30, 2022

Intangibles, net

Intangibles, net

8. Intangibles, net

The components of intangibles are as follows (in thousands):

	July 30,		April 30,
	2022		2022
Technology	$	56,612	$	56,913
Licenses		1,008		1,008
Customer relationships		72,317		72,448
Backlog		2,037		2,100
In-process research and development		550		550
Non-compete agreements		320		320
Trademarks and tradenames		68		68
Other		140		144
Intangibles, gross		133,052		133,551
Less accumulated amortization		(42,043)		(36,327)
Intangibles, net	$	91,009	$	97,224

The weighted average amortization period at July 30, 2022 and April 30, 2022 was four years. Amortization expense for the three months ended July 30, 2022 and July 31, 2021 was $5,869,000 and $6,973,000, respectively.

Technology, backlog and customer relationship intangible assets were recognized in conjunction with the Company’s acquisition of Telerob on May 3, 2021. The intangibles recognized in conjunction with the acquisition of Telerob are

recorded in Euros, and the balances change in accordance with the foreign currency translation at reporting date. Refer to Note 18—Business Acquisitions for further details.

Estimated amortization expense for the next five years is as follows (in thousands):

	Year ending
	April 30,
2023	$	17,616
2024		23,161
2025		20,879
2026		15,837
2027		5,208
	$	82,701