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INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

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

			September 30, 2024
			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Strategic contracts			$	24,045					$	(292)					$	23,753
Capitalized software			2,289						(300)						1,989
Total			$	26,334					$	(592)					$	25,742

			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

Schedule of Expected Amortization Expenses

The Company expects to record amortization expense as follows over the next five subsequent years:

(in thousands)
Remainder of 2024			$	542
Year Ended December 31, 2025			658
Year Ended December 31, 2026			658
Year Ended December 31, 2027			658
Year Ended December 31, 2028			566

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- References

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

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