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GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

8. GOODWILL AND INTANGIBLE ASSETS

Intangible assets, net as of December 31, 2024 and 2023 consists of the following (in thousands):

Schedule of intangible assets
		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

		December 31, 2024
		Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount				Weighted- average Amortization Period (yrs)
Developed technology		$	8,074			$	(2,080	)		$	5,994				11
Trade name			1,756				(498	)			1,258				10
Customer relationships			444				(158	)			286				13
Backlog			185				(185	)			–				1
Patents			576				(77	)			499				20
Intangible assets		$	11,035			$	(2,998	)		$	8,037

Amortization expense for each of the years ended December 31, 2024 and 2023 was $1.0 million. Amortization expense for intangible assets held as of December 31, 2024 will be $1.0 million for each of the years 2025 – 2028. For both years ending December 31, 2024 and December 31, 2023, amortization expense recognized in Operating expenses was $0.2 million and $0.3 million respectively and $0.7 million and $0.8 million in Cost of Good Sold respectively.

The Company’s acquisitions identified Goodwill and intangible assets. Goodwill represents the purchase price in excess of fair values assigned to the underlying identifiable net assets of the acquired business. Goodwill as of December 31, 2024 and 2023 consists of the following (in thousands):

Schedule of goodwill		Goodwill
Balance as of December 31, 2022		$	4,600
Acquisition of Amiga			5,445
Currency impact			225
Balance as of December 31, 2023		$	10,270
Acquisition of Telcom			692
Currency impact			(382	)
Balance as of December 31, 2024		$	10,580

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- References

No definition available.

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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

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