FLYEXCLUSIVE INC
For the period ended Mar 31, 2024. Filed Aug 12, 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 Aug 12, 2024
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13. Intangible Assets
- Intangible Assets
Intangible assets, net are as follows:
| March 31, 2024 | ||||
|---|---|---|---|---|
| IntangibleAssets, Gross | AccumulatedAmortization | IntangibleAssets, Net | Weighted-AverageUseful Life(in years) | |
| Software - in service | $3,651 | $(2,196) | $1,455 | 3 |
| FAA certificate | 650 | — | 650 | Indefinite |
| Total acquired intangible assets | $4,301 | $(2,196) | $2,105 | |
| December 31, 2023 | ||||
|---|---|---|---|---|
| IntangibleAssets, Gross | AccumulatedAmortization | IntangibleAssets, Net | Weighted-AverageUseful Life(in years) | |
| Software - in service | $3,486 | $(1,902) | $1,584 | 3 |
| FAA certificate | 650 | — | 650 | Indefinite |
| Total acquired intangible assets | $4,136 | $(1,902) | $2,234 | |
Amortization of intangible assets was $294 and $223 for the three months ended March 31, 2024 and 2023, respectively. The Company didnot record any impairment charges related to definite-lived intangible assets for the three months ended March 31, 2024 and 2023.
The following is a schedule of estimated amortization expense for the following periods:
| Fiscal Year | Amount |
|---|---|
| Remainder of 2024 | $792 |
| 2025 | 438 |
| 2026 | 215 |
| 2027 | 10 |
| 2028 | — |
| Thereafter | — |
| $1,455 |
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