Intangible Assets, net

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

Note 5. Intangible Assets, net

Intangible assets, net consisted of the following as of June 30, 2023:

(in thousands)	Gross Value		Accumulated Amortization		Net Value		Weighted Average Remaining Amortization Period (In Years)
Patents/Intellectual Property	$	485	$	(150)	$	335	6.6
Total	$	485	$	(150)	$	335

Intangible assets, net consisted of the following as of December 31, 2022:

(in thousands)	Gross Value		Accumulated Amortization		Net Value		Weighted Average Remaining Amortization Period (In Years)
Patents/Intellectual Property	$	461	$	(124)	$	337	7.0
Total	$	461	$	(124)	$	337

Amortization expense related to intangible assets was $0.01 million and $0.03 million for the three and six months ended June 30, 2023, respectively, and $0.04 million and $0.08 million for the three and six months ended June 30, 2022, respectively.

As of June 30, 2023, the future estimated amortization expense related to intangible assets is as follows:

(in thousands)
Remainder of 2023	$	27
2024	53
2025	53
2026	53
2027	53
Thereafter	96
Total	$	335