| Intangible Assets, net |
Note 9. Intangible Assets, net
Intangible assets consisted of the following as of March 31, 2022
and December 31, 2021:
| |
|
Gross book value |
|
|
Accumulated amortization |
|
|
Net book value |
|
|
Weighted-average life (years) |
|
| Customer contracts |
|
$ |
6,300 |
|
|
$ |
(207 |
) |
|
$ |
6,093 |
|
|
|
10 |
|
| Trademark |
|
|
5,000 |
|
|
|
(166 |
) |
|
|
4,834 |
|
|
|
10 |
|
| UL Listings |
|
|
2,700 |
|
|
|
(75 |
) |
|
|
2,625 |
|
|
|
12 |
|
| Patents |
|
|
559 |
|
|
|
(388 |
) |
|
|
171 |
|
|
|
Various |
|
| Intangible assets, net as of March 31, 2022 |
|
$ |
14,559 |
|
|
$ |
(836 |
) |
|
$ |
13,723 |
|
|
|
|
|
| |
|
Gross
book value |
|
|
Accumulated
amortization |
|
|
Net book
value |
|
|
Weighted-average
life (years) |
|
| Customer contracts |
|
$ |
6,300 |
|
|
$ |
(51 |
) |
|
$ |
6,249 |
|
|
|
10 |
|
| Trademark |
|
|
5,000 |
|
|
|
(42 |
) |
|
|
4,958 |
|
|
|
10 |
|
| UL Listings |
|
|
2,700 |
|
|
|
(19 |
) |
|
|
2,681 |
|
|
|
12 |
|
| Patents |
|
|
742 |
|
|
|
(468 |
) |
|
|
274 |
|
|
|
Various |
|
| Intangible assets, net as of December 31, 2021 |
|
$ |
14,742 |
|
|
$ |
(580 |
) |
|
$ |
14,162 |
|
|
|
|
|
The intangible assets are being amortized over their
respective original useful lives, which range from 10-12 years. The Company recorded amortization expense of $0.4 million and $0.02 million
for the three months ended March 31, 2022 and 2021, respectively.
The estimated future amortization expense associated
with intangible assets is as follows:
| |
|
|
Estimated
amortization expense |
|
|
| For the nine months ending December 31, 2022 |
|
$ |
1,067 |
|
| For the year ending December 31, 2023 |
|
|
1,390 |
|
| For the year ending December 31, 2024 |
|
|
1,380 |
|
| For the year ending December 31, 2025 |
|
|
1,378 |
|
| For the year ending December 31, 2026 |
|
|
1,376 |
|
| For the year ending December 31, 2027 |
|
|
1,367 |
|
| For the year ending December 31, 2028 and thereafter |
|
|
5,765 |
|
| Total |
|
$ |
13,723 |
|
|