Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Note 8. Intangible Assets, net

Intangible assets, net, are comprised of the following (in thousands):

Category	Useful Life	December 31, 2023			December 31, 2022
Customer relationships	10-14 years	$	2,918		$	3,825
Trademark	Indefinite life		477			1,493
			3,395			5,318
Accumulated amortization			(1,688	)		(1,842	)
Intangible assets, net		$	1,707		$	3,476

An impairment charge of $1.5 million at Microphase reporting unit related to customer relationships intangible assets was recognized during the year ended December 31, 2023. Accumulated amortization through the date of impairment was $0.4 million. There were no impairments of intangible assets during the year ended December 31, 2022.

Amortization expense on the definite lived intangible assets for the years ended December 31, 2023 and 2022 was $0.3 million each year.

The following table presents estimated amortization expense for each of the succeeding five calendar years and thereafter (in thousands):

Fiscal Year	December 31, 2023
2024	$	226
2025		226
2026		226
2027		226
2028		139
Thereafter		187
	$	1,230