Intangible Assets, Net

12 Months Ended

Dec. 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:


	December 31, 2024
(in thousands)	Weighted-Average Remaining Useful Life		Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Software		1.2	$	1,167	$	(1,124	)	$	43
Customer relationships		0.8		3,007		(2,871	)		136
				4,174		(3,995	)		179
Trademarks	N/A			3,000		—			3,000
Intangible assets, net			$	7,174	$	(3,995	)	$	3,179


	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 years ended December 31, 2024 and 2023, total amortization expense amounted to $0.3 million and $0.6 million, respectively, including $0.1 million and $0.4 million, respectively, of amortization expense related to software. No impairment losses have been recorded on any of the Company’s intangible assets for the years ended December 31, 2024 and 2023, respectively.

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


(in thousands)
2025		170
2026		9
Expected amortization expense for intangible assets with definite lives	$	179