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INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS

The components of intangible assets were as follows:

As of December 31, 2023  Gross Carrying   Accumulated  

Net

Carrying

  

Weighted

Average Remaining

 
(in thousands)  Amount   Amortization   Amount   Period (Years) 
Acquired technology  $20,172   $2,940   $17,232    12 
Backlog   26    23    3    - 
   $20,198   $2,963   $17,235      

 

As of December 31, 2022 

Gross

Carrying

   Accumulated  

Net

Carrying

  

Weighted

Average Remaining

 
(in thousands)  Amount   Amortization   Amount   Period (Years) 
Acquired technology  $951   $876   $75       4 
   $      951   $    876   $     75      
ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS

The following table outlines our estimated future amortization expense related to intangible assets held at December 31, 2023 (in thousands):

 

       Research and     
   Cost of   Development     
Years Ended December 31,  Revenue   Expense   Total 
2024  $1,548    584   $2,132 
2025   1,548    54    1,602 
2026   1,548    25    1,573 
2027   1,508    -    1,508 
Thereafter   10,420    -    10,420 
 Total  $16,572   $663   $17,235