The following table summarizes the components of intangible asset balances:


	March 31, 2026		December 31, 2025
(in thousands)	(unaudited)		(audited)
Patents — in use	$	443	$	443
Patents — fully amortized	70		70
Patents — in process	74		74
Internally developed software — in use	3,950		3,934
Internally developed software — in process	424		374
Trademarks	44		44
	5,005		4,939
Accumulated amortization	(1,719)		(1,555)
Total	$	3,286	$	3,384

Amortization expense of intangible assets was approximately $164 thousand and $60 thousand for the three months ended March 31, 2026 and 2025, respectively.

Expected annual amortization expense for the remaining portion of 2026, the next five years, and thereafter related to intangible assets, excluding trademarks considered to have indefinite lives and in process intangible assets, is as follows:


(in thousands)
Nine months remaining ending December 31, 2026	$	279
2027	370
2028	367
2029	363
2030	345
2031	225
Thereafter	1,293