Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 5. Intangible Assets

Intangible assets, net consisted of the following as of September 30, 2024:

(in thousands)	Gross Value		Accumulated Amortization		Net Value		Weighted Average Remaining Amortization Period (In Years)
Patents/Intellectual Property	$	462	$	(197)	$	265	5.5
Total	$	462	$	(197)	$	265

Intangible assets, net consisted of the following as of December 31, 2023:

(in thousands)	Gross Value		Accumulated Amortization		Net Value		Weighted Average Remaining Amortization Period (In Years)
Patents/Intellectual Property	$	519	$	(177)	$	341	6.3
Total	$	519	$	(177)	$	341

Amortization expense related to intangible assets was $13 thousand and $42 thousand for the three and nine months ended September 30, 2024, respectively, and $13 thousand and $40 thousand for the three and nine months ended September 30, 2023, respectively.

As of September 30, 2024, the future estimated amortization expense related to intangible assets is as follows:

(in thousands)
Remainder of 2024	$	13
2025	52
2026	52
2027	52
2028	44
Thereafter	52
Total	$	265