NOTE 8: INTANGIBLE ASSETS, NET

In September 2024, an impairment test for the Solar and Energy Storage asset group's long-lived assets was performed. The test included comparing the sum of the estimated undiscounted future cash flow attributable to the identified assets group and its carrying amounts, and recognizing an impairment for the amount to which the carrying amount exceeds the fair value of the assets groups.

The Company impaired and disposed intangible assets in the amount of $22,474, which mainly relates to patents and licenses under the Solar asset group that are no longer relevant for the Company's continued and future operations, and technology related to the Energy Storage asset group.

Acquired intangible assets consisted of the following as of September 30, 2024, and December 31, 2023:

	September 30, 2024			December 31, 2023
Intangible assets with finite lives:
Technology	$	11,132		$	26,990
Customer relationships		1,546			3,193
Trade names		1,322			624
Assembled workforce		3,575			3,575
Patents and licenses		2,000			22,000
Gross intangible assets		19,575			56,382
Less - accumulated amortization		(8,406	)		(21,037	)
Total intangible assets, net	$	11,169		$	35,345

For the three months ended September 30, 2024 and 2023, the Company recorded amortization expenses related to intangible assets in the amount of $2,823 and $2,663, respectively.

For the nine months ended September 30, 2024 and 2023, the Company recorded amortization expenses related to intangible assets in the amount of $6,751 and $5,901, respectively.

Expected future amortization expenses of intangible assets as of September 30, 2024 are as follows:

2024	$	1,716
2025		2,576
2026		2,228
2027		2,184
2028		1,023
2029 and thereafter		1,442
	$	11,169