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GOODWILL AND INTANGIBLE ASSETS, NET
 6 Months Ended
Jun. 30, 2024
GOODWILL AND INTANGIBLE ASSETS, NET
10.
Goodwill and Intangible assets, NET

Goodwill

The carrying amount of goodwill for the Space Systems reportable segment was $71,020 as of June 30, 2024 and December 31, 2023.

Intangible Assets

The components of intangible assets consisted of the following as of June 30, 2024 and December 31, 2023:

 

June 30, 2024

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Finite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

Developed Technology

 

$

56,365

 

 

$

(20,076

)

 

$

36,289

 

Capitalized software

 

 

13,728

 

 

 

(8,733

)

 

 

4,995

 

Customer relationships

 

 

16,115

 

 

 

(3,858

)

 

 

12,257

 

Trademarks and tradenames

 

 

10,103

 

 

 

(2,201

)

 

 

7,902

 

Backlog

 

 

3,491

 

 

 

(3,491

)

 

 

—

 

Other

 

 

1,282

 

 

 

(482

)

 

 

800

 

Indefinite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

In-process Technology

 

 

2,000

 

 

 

—

 

 

 

2,000

 

Total

 

$

103,084

 

 

$

(38,841

)

 

$

64,243

 

 

 

December 31, 2023

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Finite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

Developed Technology

 

$

56,065

 

 

$

(16,649

)

 

$

39,416

 

Capitalized software

 

 

11,690

 

 

 

(7,454

)

 

 

4,236

 

Customer relationships

 

 

16,135

 

 

 

(3,234

)

 

 

12,901

 

Trademarks and tradenames

 

 

10,106

 

 

 

(1,789

)

 

 

8,317

 

Backlog

 

 

3,491

 

 

 

(3,366

)

 

 

125

 

Other

 

 

1,222

 

 

 

(423

)

 

 

799

 

Indefinite-Lived Intangible Assets

 

 

 

 

 

 

 

 

 

In-process Technology

 

 

2,300

 

 

 

—

 

 

 

2,300

 

Total

 

$

101,009

 

 

$

(32,915

)

 

$

68,094

 

 

Amortization expense recorded in the condensed consolidated statements of operations and comprehensive loss during the three and six months ended June 30, 2024 and 2023, respectively consisted of the following:

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of revenues

 

$

1,779

 

 

$

1,778

 

 

$

3,552

 

 

$

3,560

 

Research and development

 

 

12

 

 

 

18

 

 

 

23

 

 

 

66

 

Selling, general and administrative

 

 

1,216

 

 

 

1,443

 

 

 

2,516

 

 

 

2,933

 

Total amortization expense

 

$

3,007

 

 

$

3,239

 

 

$

6,091

 

 

$

6,559

 

 

The following table outlines the estimated future amortization expense related to intangible assets held as of June 30, 2024:

2024 (for the remaining period)

 

$

6,712

 

2025

 

 

9,894

 

2026

 

 

9,736

 

2027

 

 

8,750

 

2028

 

 

7,760

 

Thereafter

 

 

19,391

 

Total

 

$

62,243