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Intangibles, net | 9 Months Ended
--- | ---
Jan. 27, 2024
Intangibles, net |
Intangibles, net | 7. Intangibles, net ​ The components of intangibles are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | January 27, | ​ | April 30, | ​
​ |  | 2024 |  | 2023 | ​
Technology | ​ | $ | 101,160 | ​ | $ | 60,817 | ​
Licenses | ​ | ​ | 1,008 | ​ | ​ | 1,008 | ​
Customer relationships | ​ | ​ | 77,378 | ​ | ​ | 72,645 | ​
Backlog | ​ | ​ | 2,862 | ​ | ​ | 2,895 | ​
In-process research and development | ​ | ​ | 550 | ​ | ​ | 550 | ​
Non-compete agreements | ​ | ​ | 320 | ​ | ​ | 320 | ​
Trademarks and tradenames | ​ | ​ | 1,668 | ​ | ​ | 68 | ​
Other | ​ | ​ | 148 | ​ | ​ | 150 | ​
Intangibles, gross | ​ | ​ | 185,094 | ​ | ​ | 138,453 | ​
Less accumulated amortization | ​ |  | (107,497) | ​ |  | (94,876) | ​
Intangibles, net | ​ | $ | 77,597 | ​ | $ | 43,577 | ​
​ Additions to technology, customer relationships, and trademark and tradenames primarily relate to the Tomahawk acquisition. Refer to Note 16—Business Acquisitions for further details. In addition, during the three months ended October 28, 2023, AeroVironment acquired technology intellectual property of $1,500,000 through an asset purchase agreement with Windward Performance, Ltd. Under the asset purchase agreement, AeroVironment acquired intellectual property related to unmanned aircraft for $3,000,000 consisting of $1,500,000 paid at closing plus two payments of $750,000 on the first and second anniversaries of the purchase agreement. The additional payments will be expensed to R&D on a straight-line basis over the two year term. ​ The weighted average amortization period at each of January 27, 2024 and April 30, 2023 was four years. Amortization expense for the three and nine months ended January 27, 2024 was $5,445,000 and $12,721,000, respectively. Amortization expense for the three and nine months ended January 28, 2023 was $6,073,000 and $17,925,000, respectively. ​ Estimated amortization expense for the next five years is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​
​ |  | Year ending |
​ | ​ | April 30, |
2024 | ​ | $ | 5,247 | ​
2025 | ​ |  | 19,159 | ​
2026 | ​ |  | 15,022 | ​
2027 | ​ |  | 12,654 | ​
2028 | ​ |  | 11,940 | ​
​ | ​ | $ | 64,022 | ​
​

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