Goodwill and Intangible Assets |
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Sep. 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 September 30, 2024, the weighted-average amortization period for customer relationships and developed technology was 9.2 years, for trade names was 2.2 years, and for patents and FCC licenses was 5.7 years. Amortization expense related to intangible assets was $871 and $2,619 for the three and nine months ended September 30, 2024, respectively, and $881 and $2,644 for the three and nine months ended September 30, 2023, respectively. No impairment charges were recognized for the three and nine months ended September 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 September 30, 2024 and December 31, 2023, respectively. As of September 30, 2024, the expected future amortization expense of intangible assets is as follows:
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