Intangibles, net

6 Months Ended

Oct. 29, 2022

Intangibles, net

Intangibles, net

8. Intangibles, net

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

	October 29,		April 30,
	2022		2022
Technology	$	59,563	$	56,913
Licenses		1,008		1,008
Customer relationships		72,209		72,448
Backlog		2,685		2,100
In-process research and development		550		550
Non-compete agreements		320		320
Trademarks and tradenames		68		68
Other		136		144
Intangibles, gross		136,539		133,551
Less accumulated amortization		(47,879)		(36,327)
Intangibles, net	$	88,660	$	97,224

The weighted average amortization period at October 29, 2022 and April 30, 2022 was four years. Amortization expense for the three and six months ended October 29, 2022 was $5,983,000 and $11,852,000, respectively. Amortization expense for the three and six months ended October 30, 2021 was $6,843,000 and $13,816,000, respectively.

Technology and backlog intangible assets were recognized in conjunction with the Company’s acquisition of Planck on August 17, 2022. 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	$	12,009
2024		23,770
2025		21,568
2026		16,360
2027		5,663
	$	79,370