v3.26.1
Intangible Assets
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
6. Intangible Assets
The following is a summary of the Company’s intangible assets, net (in thousands):
 
    
Term
    
2025
    
2024
 
Intellectual property
    
1-5 years
     $ 14,025      $ 8,491  
Software licenses
     3 years        8,320        8,320  
Accumulated amortization
        (10,752      (5,082
     
 
 
    
 
 
 
Intangible assets, net
      $ 11,593      $ 11,729  
     
 
 
    
 
 
 
 
 
During the years ended December 31, 2025 and 2024, the Company purchased and capitalized certain license software tooling costs and intellectual property licensing agreements of $5.3 million and $10.8 million, respectively to support research and development efforts.
Amortization expense relating to the Company’s intangible assets was approximately $5.7 million and $4.7 million for the years ended December 31, 2025 and 2024, respectively, During the year ended 2025, $4.8 million was included in research and development expense, and $0.9 million of which was included in cost of sales in the accompanying consolidated statement of operations and comprehensive loss. During the year ended 2024, $4.7 million was included in research and development expense in the accompanying consolidated statement of operations and comprehensive loss.
The following table represents the total estimated amortization of intangible assets for the succeeding years (in thousands):
 
2026
     5,543  
2027
     3,790  
2028
     1,063  
Thereafter
     1,197  
  
 
 
 
Total amortization expense
   $ 11,593