Note 7. Goodwill and Intangible Assets

The Company’s intangible assets are related to the acquisitions of Teton Simulation Software in April 2022 and Digital Metal AB in August 2022, as well as the mutual patent licenses that are part of the Continuous Composites Settlement Agreement (see Note 15).

The Company recorded a full goodwill impairment charge of $29.5 million in the condensed consolidated statements of operations during the three months ended September 30, 2023. This impairment was driven by the decline in the Company’s actual and forecasted operating results, as well as a decline in market capitalization.

Revenue is the basis for the economic pattern used to determine the amortization schedule of developed technology and customer relationships. Trade name intangible amortization is based on the term in which we anticipate continued use of the asset. Mutual patent licenses amortization is based on the term of the patent on a straight-line basis. The estimated future amortization expense for amortizable assets to be recognized was as follows as of September 30, 2024 (in thousands):