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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS |
7. | GOODWILL AND INTANGIBLE ASSETS
The following table presents the Company's goodwill asset:
Schedule of goodwill asset |  |  |  |  |  |  |  |
|  | March 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Beginning balance |  | $ | 10,580 |  |  | $ | 10,270 |
Foreign exchange |  |  | 200 |  |  |  | (310 | )
Impairments |  |  | (10,780 | ) |  |  | – |
Ending balance |  | $ | – |  |  | $ | 10,580 |
Intangible assets, net, as of March 31, 2025 and 2024 consists of the following (in thousands):
Schedule of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 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 |  |  |
|  | March 31, 2025 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Weighted-average Amortization Period (yrs)
Developed technology |  | $ | 8,074 |  |  | $ | (2,263 | ) |  | $ | 5,811 |  |  | 11
Trade name |  |  | 1,756 |  |  |  | (541 | ) |  |  | 1,215 |  |  | 10
Customer relationships |  |  | 443 |  |  |  | (169 | ) |  |  | 274 |  |  | 13
Backlog |  |  | 184 |  |  |  | (185 | ) |  |  | – |  |  | 1
Patents |  |  | 592 |  |  |  | (82 | ) |  |  | 510 |  |  | 20
Intangible assets |  | $ | 11,050 |  |  | $ | (3,240 | ) |  | $ | 7,810 |  |  |
Amortization expense for each of the three months ended March 31, 2025, and 2024 was $0.2 million. Amortization expense for intangible assets held as of December 31, 2024, will be $1.0 million for each of the years 2025 – 2028. Amortization expense recognized in Operating expenses for the three months ended March 31, 2025 and 2024 was $0.1 million and $0.2 million in Cost of Goods Sold, respectively.

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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 + Details
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