Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

14.

Goodwill and Intangible Assets

As of December 31, 2024, the Company had a goodwill balance of $12.2 million. The goodwill balance is related to the acquisition of fSight. Please see Note 4, “Acquisition of Foresight Energy, Ltd.” for additional information. As of December 31, 2024, there has been no impairment of goodwill to date.

The Company’s intangible assets by major asset class are as follows:


	December 31, 2024
(in thousands, except for useful life amounts)	Weighted Average Useful Life (Years)	Gross		Accumulated Amortization			Net Book Value
Amortizing:
Patents	6.7	$	450	$	(137	)	$	313
Customer relationships	10.0		170		(33	)		137
Developed technology	10.0		1,820		(348	)		1,472
Total intangible assets		$	2,440	$	(518	)	$	1,922


	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 $0.3 million and $0.2 million for the years ended December 31, 2024, and 2023, respectively.

Amortization expense related to intangible assets at December 31, 2024, in each of the next five years and beyond is expected to be incurred as follows (in thousands):


(in thousands)	Amount
2025	$	270
2026		270
2027		262
2028		260
2029		227
Thereafter		633
	$	1,922