Intangible Assets, Net

9 Months Ended

Sep. 30, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

6. INTANGIBLE ASSETS, NET

The following tables provide information pertaining to the Company’s intangible assets as of:


	September 30, 2024
(in thousands)	Weighted-Average Remaining Useful Life		Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Software		1.2	$	1,180	$	(1,090	)	$	90
Customer relationships		1.0		3,007		(2,821	)		186
				4,187		(3,911	)		276
Trademarks	N/A			3,000		—			3,000
Intangible assets, net			$	7,187	$	(3,911	)	$	3,276


	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 September 30, 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. For the nine months ended September 30, 2024 and 2023, total amortization expense amounted to $0.2 million and $0.5 million, respectively, including $0.1 million and $0.3 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 and nine months ended September 30, 2024 and 2023, respectively.

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


(in thousands)
Remainder of 2024		87
2025		175
2026		14
Expected amortization expense for intangible assets with definite lives	$	276