Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

v3.24.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
During the year ended December 31, 2023, the Company acquired intangible assets of $6.8 million included with proprietary intellectual property, in connection with the acquisition of the Stella Purchased Assets. See Note 3.
Intangible assets as of December 31, 2023 and 2022 consisted of the following (in thousands):
December 31,
2023		 December 31,
2022		 Estimated Useful
Life (in years)
Trade names $ 5,550  $ 5,550  15
Proprietary intellectual property 11,064  4,260  5
Customer relationships 1,180  1,180  1
CLIA license 1,307  1,307  3
19,101  12,297 
Less: accumulated amortization (6,768) (3,822)
Total intangible assets, net $ 12,333  $ 8,475 
Amortization expense for acquired intangible assets was $2.9 million and $2.4 million during the years ended December 31, 2023 and 2022, respectively. The estimated future amortization expense of acquired intangible assets as of December 31, 2023 is as follows (in thousands):
Year ended December 31, 2024 $ 2,583 
Year ended December 31, 2025 2,583 
Year ended December 31, 2026 2,251 
Year ended December 31, 2027 1,731 
Year ended December 31, 2028 370 
Thereafter 2,815 
$ 12,333