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Intangible Assets
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 4. INTANGIBLE ASSETS

Intangibles

Intangible assets as of March 31, 2024 were as follows:

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

Trademarks and tradenames, indefinite-lived

 

$

987

 

 

$

 

 

$

987

 

Patents, definite-lived

 

 

8,153

 

 

 

2,720

 

 

 

5,433

 

Customer relationships

 

 

1,733

 

 

 

639

 

 

 

1,094

 

Developed technology

 

 

17,690

 

 

 

3,748

 

 

 

13,942

 

Other intangibles

 

 

30

 

 

 

28

 

 

 

2

 

Total intangible assets, net

 

$

28,593

 

 

$

7,135

 

 

$

21,458

 

 

Intangible assets as of December 31, 2023, were as follows:

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

Trademarks and tradenames, indefinite-lived

 

$

987

 

 

$

 

 

$

987

 

Patents, definite-lived

 

 

7,900

 

 

 

2,649

 

 

 

5,251

 

Customer relationships

 

 

1,733

 

 

 

567

 

 

 

1,166

 

Developed technology

 

 

17,690

 

 

 

3,424

 

 

 

14,266

 

Other intangibles

 

 

30

 

 

 

26

 

 

 

4

 

Total intangible assets, net

 

$

28,340

 

 

$

6,666

 

 

$

21,674

 

 

Amortization expense is included in Selling, general, and administrative expenses on the Condensed Consolidated Statements of Operations and Comprehensive Loss, and was $470 and $503 for the three months ended March 31, 2024 and 2023, respectively.

Expected future amortization expense is as follows:

2024 (Remaining)

 

$

1,475

 

2025

 

 

1,943

 

2026

 

 

1,943

 

2027

 

 

1,942

 

2028

 

 

1,943

 

Thereafter

 

 

12,212

 

Total future amortization expense

 

$

21,458

 

 

No impairment charges related to intangibles were recorded for the three months ended March 31, 2024 and 2023.