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Intangibles, net

9 Months Ended

Jan. 28, 2023

8. Intangibles, net

The components of intangibles are as follows (in thousands):


	January 28,		April 30,
	2023		2022
Technology	$	60,425	$	56,913
Licenses		1,008		1,008
Customer relationships		72,583		72,448
Backlog		2,865		2,100
In-process research and development		550		550
Non-compete agreements		320		320
Trademarks and tradenames		68		68
Other		148		144
Intangibles, gross		137,967		133,551
Less accumulated amortization		(54,525)		(36,327)
Intangibles, net	$	83,442	$	97,224

The weighted average amortization period at January 28, 2023 and April 30, 2022 was four years. Amortization expense for the three and nine months ended January 28, 2023 was $6,073,000 and $17,925,000, respectively. Amortization expense for the three and nine months ended January 29, 2022 was $6,911,000 and $20,486,000, respectively.

Technology and backlog intangible assets were recognized in conjunction with the Company’s acquisition of Planck on August 17, 2022. Technology, backlog and customer relationship intangible assets were recognized in conjunction with the Company’s acquisition of Telerob on May 3, 2021. The intangibles recognized in conjunction with the acquisition of Telerob are recorded in Euros, and the balances change in accordance with the foreign currency translation at reporting date. Refer to Note 18—Business Acquisitions for further details.

Estimated amortization expense for the next five years is as follows (in thousands):


	Year ending
	April 30,
2023	$	6,061
2024		24,018
2025		21,691
2026		16,483
2027		5,786
	$	74,039