v3.25.1
Intangibles
3 Months Ended
Mar. 31, 2025
Intangibles  
Intangibles

4. Intangibles

As a result of the acquisition of VCN, the Company has an intangible asset, in-process research and development (“IPR&D”). The IPR&D is deemed to have indefinite lives and therefore not amortized.

The following table provides the Company’s in-process R&D as of March 31, 2025.

    

In-process

R&D (in thousands)

Balance at December 31, 2024

$

17,358

Effects of exchange rates

726

Balance at March 31, 2025

$

18,084

There were no impairment charges recorded during the three months ended March 31, 2025 and 2024.