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Note 7 - Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7: GOODWILL AND INTANGIBLE ASSETS, NET

(a)

Goodwill:

Changes in goodwill are as follows:

	Year ended December 31,
	2022		2023

Balance as of January 1,	$	74,777	$	74,777
Acquisition		—		1,994
Sale of Intrinsix (see note 1)		—		(18,463	)
Balance as of December 31,	$	74,777	$	58,308

As of December 31, 2022, the allocated goodwill to continuing operation amounted to $56,794.

(b)

Intangible assets:

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

Intangible assets related to the acquisition of VisiSonics business
Customer relationships		4.0	$	—	$	—	$	—	$	—	$	432	$	72	$	—	$	360
Technologies		5.0		—		—		—		—		1,174		157		—		1,017


Intangible assets related to the acquisition of Hillcrest Labs business
Customer relationships		4.4		3,518		2,998		—		520		3,518		3,190		—		328
Customer backlog		0.5		72		72		—		—		72		72		—		—
R&D Tools		7.5		2,475		1,140		—		1,335		2,475		1,470		—		1,005

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		1,424		—		537		1,961		1,704		—		257

Total intangible assets			$	15,089	$	9,141	$	3,556	$	2,392	$	16,695	$	10,172	$	3,556	$	2,967

(*) 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.

Future estimated annual amortization charges are as follows:

2024		1,090
2025		833
2026		680
2027		286
2028		78
	$	2,967

The Company recorded in continuing operations amortization expense in the amount of $2,306 and $1,031 for the years ended December 31, 2022 and 2023, respectively. In addition, amortization expense related to Intrinsix in the amount of $2,065 and $965 for the years ended December 31, 2022 and 2023, respectively, was recorded in discontinued operation.