v3.26.1
Intangible Assets, Net
 6 Months Ended
Jun. 30, 2026
Intangible Assets, Net [Abstract]  
Intangible Assets, net

4. Intangible Assets, net

 

The Company’s intangible assets, net relate to developed technology, trademarks/trade names and customer relationships acquired in connection with the acquisition of substantially all of the assets of SiVantage, Inc. (“SI”) and SIMPL Medical, LLC (the “SI Acquisition”) as described in the Company’s Annual Report. Intangible assets were valued based on their estimated fair value on the date of acquisition and are being amortized on a straight-line basis over estimated useful lives of 7-8 years for developed technology, 10 years for trademarks/trade names and 8 years for customer relationships.

 

Intangible assets as of June 30, 2026 consist of the following:

 

    Gross Value     Accumulated
Amortization		     Net Value  
Developed technology   $ 103     $       (12 )   $ 91  
Trademarks/trade names     196       (18 )     178  
Customer relationships     210       (24 )     186  
Total   $ 509     $ (54 )   $ 455  

 

Intangible assets as of December 31, 2025 consist of the following:

 

    Gross Value     Accumulated
Amortization		     Net Value  
Developed technology   $ 103     $             (5 )   $ 98  
Trademarks/trade names     196       (8 )     188  
Customer relationships     210       (11 )     199  
Total   $ 509     $ (24 )   $ 485  

 

Amortization expense for three months ended June 30, 2026 and 2025 was $15 and $0, respectively and $30 and $0 for the six months ended June 30, 2026 and 2025, respectively.

 

As of June 30, 2026, future amortization of amortizable intangible assets is as follows:

 

2026 (remaining 6 months)   $ 29  
2027     59  
2028     59  
2029     59  
2030     59  
Thereafter     190  
    $ 455