XML 42 R28.htm IDEA: XBRL DOCUMENT v3.24.4
Intangible Assets and Goodwill (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Intangible Assets and Goodwill [Abstract]    
Schedule of Amounts Related to Intangible Assets   As a result of the merger with QPhoton, the Company has the following amounts related to intangible assets (in thousands):
   December 31, 2023   December 31, 2022 
   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount 
Non-compete agreement with founder  $3,251   $(1,716)  $1,535   $3,251   $        (632)  $2,619 
Website domain name and trademark   1,009    (320)   689    1,009    (118)   891 
Technology and licensed patents   12,731    (2,880)   9,851    12,731    (1,061)   11,670 
Total  $16,991   $(4,915)  $12,076   $16,991   $(1,811)  $15,180 

 

Schedule of Future Amortization Expense The amortization expense of the Company’s intangible assets for the three and nine months ended September 30, 2024 and 2023 was approximately $780 thousand and $2.3 million, respectively. The Company expects future amortization expense to be the following (in thousands):
   Amortization 
2024 (remaining three months)  $776 
2025   2,472 
2026   2,021 
2027   1,903 
2028   1,819 
Thereafter   757 
Total  $9,748 
The Company expects future amortization expense to be the following (in thousands):
   Amortization 
2024  $3,104 
2025   2,472 
2026   2,021 
2027   1,903 
2028   1,819 
Thereafter    757 
Total  $12,076 
Schedule of Changes in Goodwill   The following table provides a summary of the changes in goodwill for the years ended December 31, 2023 and 2022 (in thousands):
   December 31, 
   2023   2022 
Goodwill, at beginning of year  $55,573   $
-
 
Goodwill additions   
-
    55,573 
Goodwill, at end of year  $55,573   $55,573 
Schedule of Amounts Related to Intangible Assets As a result of the merger with QPhoton in June 2022 (the “QPhoton Merger”), the Company has the following amounts related to intangible assets (in thousands):
   September 30, 2024   December 31, 2023 
   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount 
Non-compete agreement with founder  $3,251   $(2,528)  $723   $3,251   $(1,715)  $1,536 
Website domain name and trademark   1,009    (471)   538    1,009    (320)   689 
Technology and licensed patents   12,731    (4,244)   8,487    12,731    (2,880)   9,851 
Total  $16,991   $(7,243)  $9,748   $16,991   $(4,915)  $12,076