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Intangible Assets, Net
 9 Months Ended
Sep. 30, 2025
Intangible Assets, Net [Abstract]  
Intangible Assets, net

Note 6. Intangible Assets, net

 

As a result of the QPhoton Merger, the Company has the following amounts related to intangible assets (in thousands):

 

   September 30, 2025   December 31, 2024 
   Gross
Carrying
Amount		   Accumulated
Amortization		   Net Carrying Amount   Gross
Carrying
Amount		   Accumulated Amortization   Net Carrying
Amount		 
Non-compete agreement with founder  $3,251   $(3,251)  $
-
   $3,251   $(2,800)  $451 
Website domain name and trademark   1,009    (673)   336    1,009    (521)   488 
Technology and licensed patents   12,731    (6,062)   6,669    12,731    (4,698)   8,033 
Total  $16,991   $(9,986)  $7,005   $16,991   $(8,019)  $8,972 

The Company recorded amortization expense of the Company’s intangible assets of $505 thousand and $780 thousand during the three months ended September 30, 2025 and 2024, respectively, and $2.0 million and $2.3 million during the nine months ended September 30, 2025 and 2024, respectively. The Company expects future amortization expense to be the following (in thousands):

 

   Amortization 
2025 (remaining three months)  $505 
2026   2,021 
2027   1,903 
2028   1,819 
2029   757 
Total  $7,005