FLYEXCLUSIVE INC
For the period ended Jun 30, 2024. Filed Aug 14, 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 14, 2024
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13. Intangible Assets
- Intangible Assets
Intangible assets, net are as follows:
| June 30, 2024 | ||||
|---|---|---|---|---|
| IntangibleAssets, Gross | AccumulatedAmortization | IntangibleAssets, Net | Weighted-AverageUseful Life(in years) | |
| Software - in service | $3,761 | $(2,504) | $1,257 | 3 |
| FAA certificate | 650 | — | 650 | Indefinite |
| Total acquired intangible assets | $4,411 | $(2,504) | $1,907 | |
| 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 $308 and $602 for the three and six months ended June 30, 2024, respectively, and $240 and $511 for three and six months ended June 30, 2023, respectively. The Company didnot record any impairment charges related to intangible assets for the three and six months ended June 30, 2024 and 2023.
The following is a schedule of estimated amortization expense for the following periods:
| Fiscal Year | Amount |
|---|---|
| Remainder of 2024 | $506 |
| 2025 | 474 |
| 2026 | 252 |
| 2027 | 25 |
| 2028 | — |
| Thereafter | — |
| $1,257 |
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