Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible Assets, Net

v3.25.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		 December 31,
2023		 Estimated Useful
Life (in years)
Trade names $ 5,550  $ 5,550  15
Proprietary intellectual property 11,064  11,064  5
Customer relationships 1,180  1,180  1
CLIA license 1,307  1,307  3
19,101  19,101 
Less: accumulated amortization (9,351) (6,768)
Total intangible assets, net $ 9,750  $ 12,333 
Amortization expense for acquired intangible assets was $2.6 million and $2.9 million during the years ended December 31, 2024 and 2023, respectively. The estimated future amortization expense of acquired intangible assets as of December 31, 2024 is as follows (in thousands):
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 
Year ended December 31, 2029 370 
Thereafter 2,445 
$ 9,750