Intangible Assets

3 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets arose from the acquisition of SDI in fiscal year 2019 and the acquisitions of S&N and EMCORE Chicago in fiscal year 2022. Definite-lived intangible assets are amortized on a straight-line basis over the estimated useful life of: (a) 7.0 years for patents, (b) 8.0 years for customer relationships, and (c) 2.0-8.0 years for technology. Trademarks are indefinite-lived.

The following table summarizes changes in intangible assets, net:


(in thousands)	December 31, 2023		September 30, 2023
Balance at beginning of period	$	12,245	$	14,790
Changes from acquisition	—		1,470
Write off due to impairment	—		(2,125)
Amortization	(494)		(1,890)
Balance at end of period	$	11,751	$	12,245

The weighted average remaining useful lives by definite-lived intangible asset category are as follows:


	December 31, 2023
(in thousands, except weighted average remaining life)	Weighted Average Remaining Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value
Technology	6.3	$	16,901	$	(9,874)	$	7,027
Customer relationships	6.6	4,690		(821)		3,869
Definite-lived intangible assets total		$	21,591	$	(10,695)	$	10,896

As of December 31, 2023, the value of trademarks was approximately $0.9 million.


	September 30, 2023
(in thousands, except weighted average remaining life)	Weighted Average Remaining Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value
Technology	6.5	$	16,901	$	(9,527)	$	7,374
Customer relationships	6.9	4,690		(674)		4,016
Definite-lived intangible assets total		$	21,591	$	(10,201)	$	11,390

As of September 30, 2023, the value of trademarks was approximately $0.9 million.

Estimated future amortization expense for intangible assets recorded by the Company as of December 31, 2023 is as follows:


(in thousands)	Amount
2024	$	1,462
2025	1,930
2026	1,527
2027	1,504
2028	1,491
Thereafter	2,982
Total amortization expense	$	10,896