XML 32 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1
INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET INTANGIBLE ASSETS, NET
Table 8.1: Details of Intangible Assets, Net
Estimated useful lifeAs of December 31, 2024As of December 31, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
(in thousands)
Acquired technology8 years$3,630 $(1,550)$2,080 $3,630 $(1,097)$2,533 
Customer relationships3 years40 (40)— 40 (32)8 
Software development costs
2 - 5 years
27,366 (15,761)11,605 35,312 (12,256)23,056 
Subtotal31,036 (17,351)13,685 38,982 (13,385)25,597 
In-process software development costs (1)
16,725 — 16,725 14,019 — 14,019 
Total$47,761 $(17,351)$30,410 $53,001 $(13,385)$39,616 
(1) In-process software development costs are costs for software that is not yet available for its intended use or general release to customers as of balance sheet date, thus not yet amortized.
In 2024, there were selected capital software projects for which the Company decided to discontinue the development and/or sale of all or part of certain solutions and certain projects that the Company ceased use before the end of its useful life. As a result of the Company's decision to abandon the associated software, the Company wrote off $11.7 million of the previously capitalized software costs, of which $5.3 million was recorded as "Impairment loss on intangible assets" under cost of sales within the Security Solutions segment, and $6.4 million was recorded as "Impairment loss on intangible assets" under operating expenses in the Company's consolidated statements of operations during the fiscal year ended December 31, 2024.
In 2023, as a result of the impairment assessment, the Company identified conditions demonstrating impairment of certain software development costs and an impairment charge of $0.5 million was reported as "Impairment loss on intangible assets" under operating expenses in the Company's consolidated statements of operations during the fiscal year ended December 31, 2023.
The Company did not recognize any impairment charges on other intangible assets for the periods presented.
Table 8.2: Amortization Expense
For the year ended December 31,
20242023
(in thousands)
Amortization expense related to:
Software development costs - cost of sales (1)
$6,015 $2,840 
Software development costs - research and development2,286 1,623 
Other intangible assets - general and administrative461 467 
Total$8,762 $4,930 
(1) Amortization expense for software development costs related to assets to be sold, leased, or otherwise marketed are charged under cost of sales on the consolidated statements of operations.
Table 8.3: Estimated Future Amortization Expense of Intangible Assets, Net
As of December 31, 2024
(in thousands)
Year Ending December 31, 2025$5,692 
Year Ending December 31, 20263,698 
Year Ending December 31, 20272,658 
Year Ending December 31, 20281,373 
Year Ending December 31, 2029264 
Thereafter— 
Total (1)
$13,685 
(1) This does not include amortization of in-process software development costs, as estimation of the timing of future amortization expenses would be impractical.
Actual amortization expense in future periods could differ from these estimates as a result of impairments, future releases, future acquisitions, divestitures, and other factors.