8.         Goodwill and Intangible Assets

On December 5, 2022, the Company acquired the Human Motion Control ("HMC") business unit from Parker (the "HMC Acquisition"). The assets acquired from the business unit included intellectual property rights associated with the Ekso Indego Personal, Ekso Indego Therapy, and future products in the orthotics and prosthetics space.

Goodwill

The Company accounted for the acquisition as a business combination in accordance with ASC 805, Business Combinations, by applying the acquisition method, and accordingly, the purchase price was allocated to the assets acquired and liabilities assumed based on their fair values at the acquisition date. The excess of the purchase price over the net assets acquired of $431 was recorded as goodwill. The goodwill recognized is attributed primarily to expected synergies of HMC with the Company.

The Company determined no impairment existed for goodwill for the three and nine months ended September 30, 2024 and 2023.

Intangible Assets

The following table summarizes the components of gross intangible assets, accumulated amortization, and net carrying values for definite and indefinite lived intangible asset balances as of September 30, 2024 and December 31, 2023:

⁽¹⁾  Intellectual property not yet placed in service as of September 30, 2024.

⁽¹⁾  Intellectual property not yet placed in service as of December 31, 2023.

Definite lived intangible assets are amortized over their estimated lives using the straight-line method, which is estimated as eight years for developed technology, 12 years for intellectual property and eight years for customer relationships. The acquired trade name was estimated to have an indefinite life, and consequently, no amortization expense was recorded. The Company determined no impairment existed for intangible assets for the three and nine months ended September 30, 2024 and 2023.

The estimated future amortization expenses related to definite lived intangible assets as of September 30, 2024 were as follows:

Amortization expense related to the acquired definite lived intangible assets was $77 and $82 for the three months ended September 30, 2024 and 2023, respectively, and $230 and $245 for the nine months ended September 30, 2024 and 2023, respectively, and was included as a component of operating expenses and cost of revenue in the condensed consolidated statement of operations and comprehensive loss.