Note 9: Intangible Assets, net

Intangible Assets, net

The Company had the following intangible assets (in thousands) with their weighted average remaining amortization period (in years):

Intangible Assets, net

During the three months ended September 30, 2024 and September 30, 2023, the Company recorded intangible asset amortization expense of $0.5 million for each reporting period. During the nine months ended September 30, 2024 and September 30, 2023, the Company recorded intangible asset amortization expense of $1.5 million and $1.6 million, respectively.

The Company did not incur any impairment charges on its definite and indefinite-lived intangible assets during the three and nine months ended September 30, 2024.

During the nine months ended September 30, 2023, the Company recorded a total Impairment of Intangible Assets of $4.0 million within Operating Expenses in the condensed consolidated statement of operations. The impairment charge consisted of a write-down of definite-lived intangible assets of $2.8 million, net of $0.6 million in accumulated depreciation, due to a decrease in an asset group’s estimated undiscounted cash flows. Furthermore, it was determined that the Frederator tradename, an indefinite-lived intangible asset, was impaired by $1.3 million.

Expected future amortization of intangible assets subject to amortization as of September 30, 2024 is as follows (in thousands):

As of September 30, 2024, $5.6 million of the Company’s intangible assets related to the acquired trade names from the Wow acquisition had indefinite lives and are not subject to amortization.