Intangible Assets, Net

3 Months Ended

Mar. 31, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

6. INTANGIBLE ASSETS, NET

The following table provides information pertaining to the Company’s intangible assets as of:


	March 31, 2024
(in thousands)	Weighted-Average Remaining Useful Life		Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Software		1.2	$	1,164	$	(1,016	)	$	148
Customer relationships		1.5		3,007		(2,720	)		287
				4,171		(3,736	)		435
Trademarks	N/A			3,000		—			3,000
Intangible assets, net			$	7,171	$	(3,736	)	$	3,435


	December 31, 2023
(in thousands)	Weighted-Average Remaining Useful Life		Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Software		1.4	$	1,164	$	(978	)	$	186
Customer relationships		1.7		3,007		(2,670	)		337
				4,171		(3,648	)		523
Trademarks	N/A			3,000		—			3,000
Intangible assets, net			$	7,171	$	(3,648	)	$	3,523

For the three months ended March 31, 2024 and 2023, total amortization expense amounted to $0.1 million and $0.2 million, respectively, including less than $0.1 million and $0.1 million, respectively, of amortization expense related to software. These amounts are included under depreciation and amortization in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss. No impairment losses have been recorded on any of the Company’s intangible assets for the three months ended March 31, 2024 and 2023, respectively.

Amortization expense for intangible assets with definite lives is expected to be as follows:


(in thousands)
Remainder of 2024		258
2025		170
2026		7
Expected amortization expense for intangible assets with definite lives	$	435