TELOS CORP
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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8. Intangible Assets, Net
- INTANGIBLE ASSETS, NET
| Table 8.1: Details of Intangible Assets, Net | |||||||
|---|---|---|---|---|---|---|---|
| March 31, 2024 · December 31, 2023 | |||||||
| Estimated Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | |
| (in years) · (in thousands) | |||||||
| Acquired technology | 8 | $3,630 | $(1,210) | $2,420 | $3,630 | $(1,097) | $2,533 |
| Customer relationship | 3 | 40 | (35) | 5 | 40 | (32) | 8 |
| Software development costs | 2 - 5 | 36,599 | (14,252) | 22,347 | 35,312 | (12,256) | 23,056 |
| Subtotal | 40,269 | (15,497) | 24,772 | 38,982 | (13,385) | 25,597 | |
| In-process software development costs (1) | 15,758 | — | $15,758 | 14,019 | — | $14,019 | |
| Total | $56,027 | $(15,497) | $40,530 | $53,001 | $(13,385) | $39,616 | |
(1) In-process software development costs are costs for software that is not yet available for its intended use or general release to customers as of balance sheet date, thus not yet amortized.
| Table 8.2: Amortization Expense | ||
|---|---|---|
| For the Three Months Ended | ||
| March 31, 2024 | March 31, 2023 | |
| (in thousands) | ||
| Amortization expense related to: | ||
| Software development costs - cost of sales (1) | $1,158 | $— |
| Software development costs - research and development | 837 | 303 |
| Other intangible assets - general and administrative | 117 | 117 |
| Total | $2,112 | $420 |
(1) Amortization expense for software development costs related to assets to be sold, leased, or otherwise marketed is charged under cost of sales on the unaudited consolidated statements of operations.
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