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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 14. Goodwill and Intangible Assets As of September 30, 2024, the Company had a goodwill balance of $12.2 million. The goodwill balance is related to the acquisition of fSight. Please refer to Note 4. “Acquisition of Foresight Energy, Ltd.” for further information. The Company's intangible assets by major asset class are as follows:
|  | September 30, 2024 |
(in thousands, except for useful life amounts) |  | Weighted Average Useful Life (Years) |  | Gross |  |  |  | Accumulated Amortization |  |  |  | Net Book Value |
Amortizing: |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | 6.7 |  | $ | 450 |  |  |  | $ | (119 | ) |  |  | $ | 331 |
Customer relationships |  | 10.0 |  |  | 170 |  |  |  |  | (28 | ) |  |  |  | 142 |
Developed technology |  | 10.0 |  |  | 1,820 |  |  |  |  | (304 | ) |  |  |  | 1,516 |
Total intangible assets |  |  |  | $ | 2,440 |  |  |  | $ | (451 | ) |  |  | $ | 1,989 |
|  | December 31, 2023 |
(in thousands, except for useful life amounts) |  | Weighted Average Useful Life (Years) |  | Gross |  |  |  | Accumulated Amortization |  |  |  | Net Book Value |
Amortizing: |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | 6.7 |  | $ | 450 |  |  |  | $ | (65 | ) |  |  | $ | 385 |
Customer relationships |  | 10.0 |  |  | 170 |  |  |  |  | (16 | ) |  |  |  | 154 |
Developed technology |  | 10.0 |  |  | 1,820 |  |  |  |  | (167 | ) |  |  |  | 1,653 |
Total intangible assets |  |  |  | $ | 2,440 |  |  |  | $ | (248 | ) |  |  | $ | 2,192 |
The Company recognized amortization expense related to intangible assets of $0.1 million and $0.1 million for the three months ended September 30, 2024, and 2023, respectively. The Company recognized amortization expense related to acquired intangible assets of $0.2 million and $0.2 million for the nine months ended September 30, 2024, and 2023, respectively. Amortization expense related to intangible assets at September 30, 2024, in each of the next five years and beyond is expected to be incurred as follows:
(in thousands) |  | Amount |
Remainder of 2024 |  | $ | 68 |
2025 |  |  | 270 |
2026 |  |  | 270 |
2027 |  |  | 262 |
2028 |  |  | 260 |
Thereafter |  |  | 859 |
|  | $ | 1,989 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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