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Note 7 - Intangible Assets, Net

3 Months Ended

Mar. 31, 2023

Intangible Assets Disclosure [Text Block]

NOTE 7:

INTANGIBLE ASSETS, NET

					March 31, 2023 (unaudited)								December 31, 2022
	Weighted average amortization period (years)		Gross carrying amount		Accumulated amortization		*Impairment ()**		Net		Gross carrying amount		Accumulated amortization		*Impairment ()**		Net

Intangible assets –amortizable:

Intangible assets related to the acquisition of Intrinsix business
Customer relationships		5.5	$	3,604	$	1,201	$	—	$	2,403	$	3,604	$	1,037	$	—	$	2,567
Customer backlog		1.5		421		421		—		—		421		421		—		—
Patents		5.0		218		80		—		138		218		69		—		149
Core technologies		3.0		3,329		2,035		—		1,294		3,329		1,757		—		1,572


Intangible assets related to the acquisition of Hillcrest Labs business
Customer relationships		4.4	$	3,518	$	3,070	$	—	$	448	$	3,518	$	2,998	$	—	$	520
Customer backlog		0.5		72		72		—		—		72		72		—		—
R&D Tools		7.5		2,475		1,222		—		1,253		2,475		1,140		—		1,335

Intangible assets related to Immervision assets acquisition
R&D Tools		6.4	$	7,063	$	3,507	$	3,556	$	—	$	7,063	$	3,507	$	3,556	$	—

Intangible assets related to an investment in NB-IoT technologies
NB-IoT technologies (**)		7.0	$	1,961	$	1,494	$	—	$	467	$	1,961	$	1,424	$	—	$	537

Total intangible assets			$	22,661	$	13,102	$	3,556	$	6,003	$	22,661	$	12,425	$	3,556	$	6,680

(*) During 2022, the Company recorded an impairment charge of $3,556 in operating expenses with respect to Immervision technology acquired in August 2019, as the Company has decided to cease the development of this product line.

(**) During the first quarter of 2018, the Company entered into an agreement to acquire certain NB-IoT technologies in the amount of $2,800, of which technologies valued at $600 have not been received and have been written off during 2022. Of the $2,200, $210 has not resulted in cash outflows as of March 31, 2023. In addition, the Company participated in programs sponsored by the Hong Kong government for the support of the above investment, and as a result, the Company received during 2019 an amount of $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies in “cost of revenues” on the Company’s consolidated statements of income (loss).

Future estimated annual amortization charges are as follows:

Reminder of 2023		1,934
2024		1,909
2025		1,189
2026		956
2027		15
	$	6,003