INTANGIBLE ASSETS, NET |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| INTANGIBLE ASSETS, NET | NOTE 5. INTANGIBLE ASSETS, NET The gross carrying amounts and net book value of intangible assets as of March 31, 2025 and December 31, 2024, are as follows (in thousands):
The Company recognized amortization expense of $5.4 million during the three months ended March 31, 2025 and $4.6 million for same period ended March 31, 2024. Amortization expense for the developed technology and the intellectual property license intangible assets is recorded in cost of sales, amortization expense for the assembled workforce is recorded in selling, general and administrative expense, and amortization expense for the patents is recorded in research and development expense in the condensed consolidated statement of operations for the three months ended March 31, 2025, and 2024. The total estimated amortization of the Company’s intangible assets for the remainder of the year ending December 31, 2025, and the years ending December 31, 2026, 2027, 2028, and 2029 are $16.6 million, $22.0 million, $22.0 million, $22.0 million, and $22.0 million, respectively. |
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