Intangible assets, net consisted of the following:


	June 30, 2025							December 31, 2024
(in thousands)	Fair Value at Acquisition		Accumulated Amortization			Net Carrying Value		Fair Value at Acquisition		Accumulated Amortization			Net Carrying Value
Customer relationships	$	2,260	$	(406	)	$	1,854	$	2,260	$	(255	)	$	2,005
Developed technology		4,006		(1,202	)		2,804		4,006		(801	)		3,205
Non-compete agreement		230		(95	)		135		230		(58	)		172
Trade names		165		(75	)		90		165		(47	)		118
Total intangible assets	$	6,661	$	(1,778	)	$	4,883	$	6,661	$	(1,161	)	$	5,500

Total amortization expense related to acquired definite lived intangible assets was $0.3 million for each of the three months ended June 30, 2025 and 2024, respectively, and $0.6 million and $0.5 million for the six months ended June 30, 2025 and 2024, respectively. The estimated amortization expense for each of the next five years is as follows:


As of June 30,	(in thousands)
2025 (remaining six months)	$	617
2026		1,234
2027		1,128
2028		1,102
2029		164
Thereafter		638
Total	$	4,883