INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET

Components of intangible assets (subject to amortization) consist of the following items (in thousands):

		As of June 30, 2024						As of December 31, 2023
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relations	5	$	1,658	$	1,057	$	601	$	1,658	$	989	$	669
Vendor relations	10	4,778		4,673		105		4,778		4,639		139
Trademark/Trade name	15	887		681		206		887		657		230
Technology/Patent	15 - 30	15,787		10,264		5,523		15,787		9,780		6,007
Software and cloud	3	10,528		7,190		3,338		10,067		5,571		4,496
		$	33,638	$	23,865	$	9,773	$	33,177	$	21,636	$	11,541

Intangible assets are amortized on a straight-line basis. We continually evaluate the amortization period and carrying basis of intangible assets to determine whether subsequent events and circumstances warrant a revised estimated useful life or reduction in value.

Total amortization expense of intangibles was $1.1 million and $1.0 million for the three months ended June 30, 2024 and 2023, respectively. Total amortization expense of intangibles was $2.2 million and $2.0 million for the six months ended June 30, 2024 and 2023, respectively.

Estimated future amortization expense is as follows (in thousands):

Period Ended June 30,	Balance
2025	$	3,726
2026	1,413
2027	1,405
2028	840
2029	382
Thereafter	2,007
	$	9,773