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Note 11 - Intangibles
 6 Months Ended
Jun. 30, 2025
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 three and six months ended June 30, 2025 and 2024.

 

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

  

June 30,

  

December 31,

 
  

(years)

  

2025

  

2024

 

Capitalized patent costs

  ~17  $9,232  $9,174 
             

Intangible assets acquired:

            

Purchased intellectual property

  10   250   250 

Developed technology

  5   24,554   22,504 

Customer relationships

  10   11,734   10,754 

Gross intangible assets

      45,770   42,682 

Accumulated amortization

      (25,175)  (20,491)

Intangibles, net

     $20,595  $22,191 

 

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 and Comprehensive Loss.

 

Amortization expense on intangible assets was as follows:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2025

  

2024

  

2025

  

2024

 

Amortization expense

 $1,625  $1,539  $3,162  $3,089 

 

For intangible assets recorded at June 30, 2025, the estimated future aggregate amortization expense for the years ending December 31, 2025 through December 31, 2029 is as follows:

 

  

Amortization

 

As of June 30, 2025

 

Expense

 

Remaining in 2025

 $3,296 

2026

  6,577 

2027

  1,633 

2028

  1,625 

2029

  1,596