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Intangible Assets | 3 Months Ended
--- | ---
Mar. 31, 2024
Intangible Assets |
Intangible Assets | Note 6. Intangible Assets The following table summarizes the Company’s intangible assets as of March 31, 2024 ($ in thousands):
|  | Estimated Useful Life in Years |  |  | Gross Carrying Amount at January 9, 2023 |  |  | Accumulated Amortization |  |  | Net Book Value at March 31, 2024 |
Developed technology ‐ VIVO |  |  | 15 |  |  | $ | 8,244 |  |  | $ | (687 | ) |  | $ | 7,557 |
Developed technology ‐ LockeT |  |  | 14 |  |  |  | 18,770 |  |  |  | (1,676 | ) |  |  | 17,094 |
Customer relationships |  |  | 6 |  |  |  | 62 |  |  |  | (13 | ) |  |  | 49 |
Trademarks/trade names ‐ VIVO |  |  | 9 |  |  |  | 876 |  |  |  | (122 | ) |  |  | 754 |
Trademarks/trade names ‐ LockeT |  |  | 9 |  |  |  | 409 |  |  |  | (56 | ) |  |  | 353 |
|  |  |  |  |  | $ | 28,361 |  |  | $ | 2,554 | ) |  | $ | 25,807 |
The following table summarizes the Company’s intangible assets as of December 31, 2023 ($ in thousands):
|  | Estimated Useful Life in Years |  |  | Gross Carrying Amount at January 9, 2023 |  |  | Accumulated Amortization |  |  | Net Book Value at December 31, 2023 |
Developed technology ‐ VIVO |  |  | 15 |  |  | $ | 8,244 |  |  | $ | (550 | ) |  | $ | 7,694 |
Developed technology ‐ LockeT |  |  | 14 |  |  |  | 18,770 |  |  |  | (1,341 | ) |  |  | 17,429 |
Customer relationships |  |  | 6 |  |  |  | 62 |  |  |  | (10 | ) |  |  | 52 |
Trademarks/trade names ‐ VIVO |  |  | 9 |  |  |  | 876 |  |  |  | (97 | ) |  |  | 779 |
Trademarks/trade names ‐ LockeT |  |  | 9 |  |  |  | 409 |  |  |  | (45 | ) |  |  | 364 |
|  |  |  |  |  | $ | 28,361 |  |  | $ | (2,043 | ) |  | $ | 26,318 |
The estimated future amortization expense for the next five years and thereafter is as follows ($ in thousands):
Years ending December 31, |  | Future Amortization Expense |
Remainder of 2024 |  | $ | 1,532 |
2025 |  |  | 2,043 |
2026 |  |  | 2,043 |
2027 |  |  | 2,043 |
2028 |  |  | 2,043 |
Thereafter |  |  | 16,103 |
Total |  | $ | 25,807 |
The Company uses the straight-line method to determine the amortization expense for its definite lived intangible assets. Amortization expense, included within selling, general and administrative expenses, relating to the Company's intangible assets was $0.5 million and $1.4 million for the three months ended March 31, 2024 and 2023, respectively. The weighted average remaining amortization period for the Company’s intangible assets as of March 31, 2024, is 12.81 years.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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