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Note 11 - Intangibles | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | 11. Intangibles Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. No impairment charges were recorded for the nine months ended September 30, 2024 and 2023. Patent costs associated with the application and award of patents in the U.S. and various other countries are capitalized and amortized on a straight-line basis over the term of the patents as determined at the award date, which varies depending on the pendency period of the application, but generally approximates seventeen years. Amortization of intangible assets acquired is calculated using the straight-line method over the estimated useful lives of the assets.
|  | Estimated Life |  |  | September 30, |  |  | December 31, |
|  | (years) |  |  | 2024 |  |  | 2023 |
Capitalized patent costs |  |  | ~17 |  |  | $ | 9,117 |  |  | $ | 9,231 |
Intangible assets acquired: |  |  |  |  |  |  |  |  |  |  |  |
Purchased intellectual property |  |  | 10 |  |  |  | 250 |  |  |  | 250 |
Developed technology |  |  | 5 |  |  |  | 24,016 |  |  |  | 22,836 |
Customer relationships |  |  | 10 |  |  |  | 11,476 |  |  |  | 10,913 |
Gross intangible assets |  |  |  |  |  |  | 44,859 |  |  |  | 43,230 |
Accumulated amortization |  |  |  |  |  |  | (20,025 | ) |  |  | (14,772 | )
Intangibles, net |  |  |  |  |  | $ | 24,834 |  |  | $ | 28,458 |
The amortization of capitalized patent costs, purchased intellectual property, and developed technology is recorded in “cost of revenue” and the amortization of customer relationships is recorded in “operating expenses” in the Consolidated Statements of Operations. Amortization expense on intangible assets was as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Amortization expense |  | $ | 1,589 |  |  | $ | 1,550 |  |  | $ | 4,678 |  |  | $ | 4,579 |
For intangible assets recorded at September 30, 2024, the estimated future aggregate amortization expense for the years ending December 31, 2024 through December 31, 2028 is as follows:
|  | Amortization |
As of September 30, 2024 |  | Expense |
Remaining in 2024 |  | $ | 1,621 |
2025 |  |  | 6,478 |
2026 |  |  | 6,445 |
2027 |  |  | 1,610 |
2028 |  |  | 1,600 |

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