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GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

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.