Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

4. INTANGIBLE ASSETS

The carrying value of intangible assets and their estimated useful life as of December 31, 2024 are as follows (dollars in thousands):


	Useful Life	Gross Amount		Accumulated Amortization			Net Book Value
Customer relationships	8 and 10 years	$	2,680	$	(1,007	)	$	1,673
Developed technology	5 and 7 years		710		(414	)		296
Trade name / trademarks	3 and 7 years		30		(23	)		7
		$	3,420	$	(1,444	)	$	1,976

The carrying value of intangible assets and their estimated useful life as of December 31, 2023 are as follows (dollars in thousands):


	Useful Life	Gross Amount		Accumulated Amortization			Net Book Value
Customer relationships	8 and 10 years	$	2,680	$	(715	)	$	1,965
Developed technology	5 and 7 years		710		(297	)		413
Trade name / trademarks	3 and 7 years		30		(17	)		13
		$	3,420	$	(1,029	)	$	2,391

During the years ended December 31, 2024 and 2023, we recorded $0.4 million of amortization expense on intangible assets. The Company expects to record amortization for the years ended December 31 as follows (in thousands):


2025	$	405
2026		356
2027		355
2028		338
2029		174
Thereafter		348
	$	1,976