NOTE 6 – INTANGIBLE ASSETS, NET

The following table shows the components of intangible assets, net (in thousands):


	June 30, 2025			December 31, 2024
Trade name	$	4,048		$	3,184
Developed technology		16,100			15,438
Customer relationships		24,313			21,081
Patents		13			11
Total intangible assets		44,474			39,714
Less: accumulated amortization		(3,808	)		(2,482	)
Intangible assets, net	$	40,666		$	37,232

The weighted-average remaining amortization period for trade names as of June 30, 2025 was 12.2 years. The weighted-average remaining amortization period for developed technology as of June 30, 2025 was 15.1 years. The weighted-average remaining amortization period for customer relationships as of June 30, 2025 was 19.9 years.The weighted-average remaining amortization period for patents as of June 30, 2025 was 12.9 years. Total amortization expense for the three months ended June 30, 2025 and 2024 was approximately $0.6 million and $0.1 million, respectively. Total amortization expense for the six months ended June 30, 2025 and 2024 was approximately $1.3 million and $0.1 million, respectively. Estimated future amortization expense for the next five years is as follows:


2026	$	2,531
2027	$	2,531
2028	$	2,531
2029	$	2,531
2030	$	2,531
Thereafter	$	28,011
Total	$	40,666