TELOS CORP
For the period ended Jun 30, 2024. Filed Aug 9, 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.
Jun 30, 2024 · Filed Aug 9, 2024
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8. Intangible Assets, Net
- INTANGIBLE ASSETS, NET
| Table 8.1: Details of Intangible Assets, Net | |||||||
|---|---|---|---|---|---|---|---|
| June 30, 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 | $(1,324) | $2,306 | $3,630 | $(1,097) | $2,533 |
| Customer relationship | 3 | 40 | (39) | 1 | 40 | (32) | 8 |
| Software development costs | 2 - 5 | 38,648 | (17,061) | 21,587 | 35,312 | (12,256) | 23,056 |
| Subtotal | 42,318 | (18,424) | 23,894 | 38,982 | (13,385) | 25,597 | |
| In-process software development costs (1) | 16,824 | — | 16,824 | 14,019 | — | 14,019 | |
| Total | $59,142 | $(18,424) | $40,718 | $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 | For the Six Months Ended | |||
| June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 | |
| (in thousands) | ||||
| Amortization expense related to: | ||||
| Software development costs – cost of sales (1) | $1,949 | $— | $3,107 | $— |
| Software development costs – research and development | 860 | 558 | 1,697 | 861 |
| Other intangible assets – general and administrative | 117 | 117 | 234 | 234 |
| Total | $2,926 | $675 | $5,038 | $1,095 |
(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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