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Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 8. INTANGIBLE ASSETS

The Company’s intangible assets consisted of the following for the dates indicated (in thousands):

						March 31, 2024
		Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Strategic contract		$	7,000			$	(117	)		$	6,883
Capitalized software			1,432				(153	)			1,279
Total		$	8,432			$	(270	)		$	8,162

						December 31, 2023
		Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Strategic contract		$	7,000			$	(28	)		$	6,972
Capitalized software			1,230				(93	)			1,137
Total		$	8,230			$	(121	)		$	8,109

The Company recorded amortization expense related to intangible assets of $0.1 million and nil in the three months ended March 31, 2024 and 2023, respectively. The Company expects to record amortization expense as follows over the next five subsequent years (in thousands):

Remaining Year Ended December 31, 2024		$	450
Year Ended December 31, 2025			599
Year Ended December 31, 2026			599
Year Ended December 31, 2027			599
Year Ended December 31, 2028			508

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350-30/tableOfContent

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