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INTANGIBLE ASSETS AND GOODWILL
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL INTANGIBLE ASSETS AND GOODWILL
Intangible assets, net
Intangible assets, net consisted of the following as of December 31, 2024 (in thousands):
Gross Fair ValueAccumulated AmortizationNet Book Value
Weighted-Average Useful Lives
Developed technology
$3,590 $(1,835)$1,755 5.6 years
Customer relationships
1,830 (744)1,086 5.0 years
Trade name and other
200 (17)183 — 
Total intangibles
$5,620 $(2,596)$3,024 
Intangible assets, net consisted of the following as of December 31, 2023 (in thousands):
Gross Fair ValueAccumulated AmortizationNet Book Value
Weighted-Average Useful Lives
Developed technology
$3,090 $(1,247)$1,843 4.6 years
Customer relationships
1,830 (515)1,315 5.9 years
IPR&D
500 — 500 — 
Trade name and other
200 — 200 — 
Total intangibles
$5,620 $(1,762)$3,858 
In July 2024, the Company completed an IPR&D project that resulted in the reclassification of $0.5 million from IPR&D to developed technology. Amortization expense of intangible assets was $0.8 million for both the years ended December 31, 2024, and 2023.
The expected future amortization expense of these intangible assets as of December 31, 2024, is as follows (in thousands):
Fiscal year ending December 31,Amount
2025$856 
2026544
2027527
2028516
2029340
Thereafter
91 
Total future amortization expense$2,874 
Goodwill
Goodwill was $4.2 million as of both December 31, 2024, and 2023. No goodwill impairments were recorded during the years ended December 31, 2024, and 2023.