FLYEXCLUSIVE INC
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 14, 2024
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13. Intangible Assets
- Intangible Assets
Intangible assets, net are as follows:
| September 30, 2024 | ||||
|---|---|---|---|---|
| IntangibleAssets, Gross | AccumulatedAmortization | IntangibleAssets, Net | Weighted-AverageUseful Life(in years) | |
| Software - in service | $3,899 | $(2,821) | $1,078 | 3 |
| FAA certificate | 650 | — | 650 | Indefinite |
| Total acquired intangible assets | $4,549 | $(2,821) | $1,728 | |
| 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 $317 and $918 for the three and nine months ended September 30, 2024, respectively, and $324 and $835 for three and nine months ended September 30, 2023, respectively. The Company didnot record any impairment charges related to intangible assets for the three and nine months ended September 30, 2024 and 2023.
The following is a schedule of estimated amortization expense for the following periods:
| Fiscal Year | Amount |
|---|---|
| Remainder of 2024 | $205 |
| 2025 | 520 |
| 2026 | 298 |
| 2027 | 55 |
| 2028 | — |
| Thereafter | — |
| $1,078 |
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