Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

14.Goodwill and Intangible Assets

As of December 31, 2023, the Company had a goodwill balance of $12.2 million. The goodwill balance is related to the acquisition of fSight, refer to “Note 4” for further information.

The Company’s intangible assets by major asset class are as follows:

	December 31, 2023
(in thousands, except for useful life amounts)	Weighted Average Useful Life (Years)	Gross		Accumulated Amortization			Net Book Value
Amortizing:
Patents	6.7	$	450	$	(65	)	$	385
Customer relationships	10.0		170		(16	)		154
Developed technology	10.0		1,820		(167	)		1,653
Total intangible assets		$	2,440	$	(248	)	$	2,192

As of December 31, 2022, the Company did not have any intangible assets.

The Company recognized amortization expense related to acquired intangible assets of $0.2 million for the year ended December 31, 2023. There was no amortization expense recorded for the year ended December 31, 2022. Amortization expense is included in general and administrative expenses in the consolidated statements of operations and comprehensive loss.

Amortization expense related to intangible assets at December 31, 2023 in each of the next five years and beyond is expected to be incurred as follows (in thousands):

(in thousands)	Amount
2024	$	270
2025		270
2026		270
2027		262
2028		260
Thereafter		860
	$	2,192