Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, net

v3.21.1
Intangible Assets, net
3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

Note 7. Intangible Assets, net

 

Intangible assets are as follows (in thousands):

 

 

March 31, 2021

 

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

Customer relationships

 

$

14,570

 

 

$

(393

)

 

$

14,177

 

Patents

 

 

1,172

 

 

 

(1,054

)

 

 

118

 

    Total intangible assets, net

 

$

15,742

 

 

$

(1,447

)

 

$

14,294

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

Customer relationships

 

$

14,570

 

 

$

(147

)

 

$

14,423

 

Patents

 

 

1,158

 

 

 

(1,041

)

 

 

117

 

    Total intangible assets, net

 

$

15,728

 

 

$

(1,188

)

 

$

14,540

 

 

 

Intangible amortization expense was $259,000 and $24,000 for the three months ended March 31, 2021 and 2020, respectively.

 

The following table presents future intangible asset amortization as of March 31, 2021 (in thousands):

 

Remainder of 2021

 

$

791

 

 2022

 

 

1,027

 

 2023

 

 

1,005

 

 2024

 

 

983

 

 2025

 

 

978

 

 Thereafter

 

 

9,510

 

Total

 

$

14,294