Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

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Intangible Assets, Net
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets as of September 30, 2024 and December 31, 2023 consisted of the following (in thousands):
September 30, 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 (8,705) (6,768)
Total intangible assets, net $ 10,396  $ 12,333 
Amortization expense for acquired intangible assets was $0.6 million and $0.8 million during the three months ended September 30, 2024 and 2023, respectively. Amortization expense for acquired intangible assets was $1.9 million and $2.3 million during the nine months ended September 30, 2024 and 2023, respectively. The estimated future amortization expense of acquired intangible assets as of September 30, 2024 is as follows (in thousands):
Remaining periods in the year ended December 31, 2024 $ 646 
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 
$ 10,396