Goodwill and Intangible Assets |
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Jun. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets |
5.
Goodwill and Intangible Assets
The following table summarizes changes in goodwill balance:
Intangible assets consisted of the following:
As of June 30, 2024, the weighted-average amortization period for customer relationships and developed technology was 9.4 years, for trade names was 2.4 years, and for patents and FCC licenses was 5.9 years. Amortization expense related to intangible assets was $868 and $1,748 for the three and six months ended June 30, 2024, respectively, and $885 and $1,762 for the three and six months ended June 30, 2023, respectively. No impairment charges were recognized for the three and six months ended June 30, 2024 and 2023. The patents asset balance included $32 and $57 of capitalized patent costs that will begin amortization upon the issuance of an official patent right to the Company as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024, the expected future amortization expense of intangible assets is as follows:
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