INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Finite-Lived Intangible Assets |
The estimated useful lives of the Company’s intangible assets are as follows:
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Estimated Useful Life |
| Licenses |
2 |
- |
6 years |
| Trade names |
5 |
- |
10 years |
| Acquired technology |
5 years |
| Customer relationships |
5 years |
| Patents and trademarks |
10 |
- |
20 years |
The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset other than goodwill:
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December 31, 2023 |
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December 31, 2022 |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
|
Net
Carrying
Amount |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Amount |
| Amortizable intangible assets: |
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| Licenses |
$ |
71,908 |
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$ |
(19,457) |
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$ |
52,451 |
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$ |
21,040 |
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$ |
(7,962) |
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$ |
13,078 |
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| Acquired technology |
15,003 |
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(3,831) |
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11,172 |
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15,003 |
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(830) |
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14,173 |
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| Customer relationships |
12,000 |
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(3,000) |
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9,000 |
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12,000 |
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(600) |
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11,400 |
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| Trade names |
2,740 |
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(1,428) |
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1,312 |
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2,740 |
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(1,278) |
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1,462 |
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| Internal-use software |
168,232 |
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(132,375) |
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35,857 |
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145,798 |
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(109,680) |
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36,118 |
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| Other |
145 |
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(4) |
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141 |
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— |
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— |
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— |
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270,028 |
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(160,095) |
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109,933 |
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196,581 |
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(120,350) |
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76,231 |
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| Nonamortizable intangible assets: |
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Marketing Agreement with a related party |
1,000 |
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— |
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1,000 |
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1,000 |
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— |
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|
1,000 |
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| Total intangible assets |
$ |
271,028 |
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$ |
(160,095) |
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$ |
110,933 |
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$ |
197,581 |
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$ |
(120,350) |
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$ |
77,231 |
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| Schedule of Indefinite-Lived Intangible Assets |
The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset other than goodwill:
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December 31, 2023 |
|
December 31, 2022 |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Amount |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Amount |
| Amortizable intangible assets: |
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| Licenses |
$ |
71,908 |
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|
$ |
(19,457) |
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$ |
52,451 |
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$ |
21,040 |
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$ |
(7,962) |
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$ |
13,078 |
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| Acquired technology |
15,003 |
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(3,831) |
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11,172 |
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15,003 |
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(830) |
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14,173 |
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| Customer relationships |
12,000 |
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(3,000) |
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9,000 |
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12,000 |
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(600) |
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11,400 |
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| Trade names |
2,740 |
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(1,428) |
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1,312 |
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2,740 |
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(1,278) |
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1,462 |
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| Internal-use software |
168,232 |
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(132,375) |
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35,857 |
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145,798 |
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(109,680) |
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36,118 |
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| Other |
145 |
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(4) |
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141 |
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— |
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— |
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— |
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270,028 |
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(160,095) |
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109,933 |
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196,581 |
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(120,350) |
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76,231 |
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| Nonamortizable intangible assets: |
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Marketing Agreement with a related party |
1,000 |
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— |
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1,000 |
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1,000 |
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— |
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|
1,000 |
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| Total intangible assets |
$ |
271,028 |
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$ |
(160,095) |
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$ |
110,933 |
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$ |
197,581 |
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$ |
(120,350) |
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$ |
77,231 |
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| Schedule of Estimated Annual Amortization Expense |
As of December 31, 2023, the estimated annual amortization expenses for the years ending December 31, 2023 through 2028 is as follows:
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| Year Ending December 31, |
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Projected Amortization
Expense |
| 2024 |
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$ |
38,254 |
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| 2025 |
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25,753 |
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| 2026 |
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18,417 |
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| 2027 |
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12,708 |
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| 2028 |
|
8,548 |
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| Thereafter |
|
6,253 |
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| Total |
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$ |
109,933 |
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