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INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

 

6. INTANGIBLE ASSETS

 

The intangible assets consist of the following (in thousands):

                
   December 31, 2023 
   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount   Weighted-average Amortization Period (yrs) 
Developed technology  $8,074   $(1,346)  $6,728    11 
Trade name   1,756    (322)   1,434    10 
Customer relationships   444    (110)   334    13 
Backlog   185    (185)   –    1 
Patents   611    (57)   554    20 
Intangible assets  $11,070   $(2,020)  $9,050      

 

   June 30, 2024 
   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount   Weighted-average Amortization Period (yrs) 
Developed technology  $8,074   $(1,713)  $6,361    11 
Trade name   1,756    (410)   1,346    10 
Customer relationships   444    (135)   309    13 
Backlog   185    (185)   –    1 
Patents   537    (67)   470    20 
Intangible assets  $10,996   $(2,510)  $8,486      

 

Amortization expense during the three and six months ended June 30, 2024 and June 30, 2023 was $0.2 million, $0.5 million, $0.2 million and $0.6 million, respectively.