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Note 6 - Acquired Intangible Assets, Net | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
6. | Acquired Intangible Assets, Net
Intangible assets as of September 30, 2024 and December 31, 2023 consisted of the following:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | December 31, |  |  |  |  |
|  |  |  |  |  | Nine Months ended September 30, 2024 |  |  | 2023 |  |  |  |  |
|  | Gross Value |  |  | Plus: Additions |  |  | Less: Accumulated Currency Translation Adjustment |  |  | Less: Current Period Impairment Charge |  |  | Less: Accumulated Amortization |  |  | Net Book Value |  |  | Net Book Value |  |  | Weighted Average Useful Life |
Developed technology |  | $ | 33,061 |  |  | $ | 600 |  |  | $ | (1,608 | ) |  | $ | (718 | ) |  | $ | (29,997 | ) |  | $ | 1,338 |  |  | $ | 1,973 |  |  | $ | 15 |
In-process research & development |  |  | 2,656 |  |  |  | - |  |  |  | (1,006 | ) |  |  | - |  |  |  | - |  |  |  | 1,650 |  |  |  | 1,650 |  |  | Indefinite |
Customer relationships |  |  | 3,887 |  |  |  | - |  |  |  | - |  |  |  | (316 | ) |  |  | (3,571 | ) |  |  | - |  |  |  | 360 |  |  |  | 10 |
Distributor Relationships |  |  | 4,700 |  |  |  | - |  |  |  | (415 | ) |  |  | - |  |  |  | (4,285 | ) |  |  | - |  |  |  | - |  |  |  | 5 |
Patents |  |  | 1,000 |  |  |  | - |  |  |  | (189 | ) |  |  | - |  |  |  | (764 | ) |  |  | 47 |  |  |  | 83 |  |  |  | 16 |
Tradenames |  |  | 4,641 |  |  |  | - |  |  |  | - |  |  |  | (126 | ) |  |  | (4,469 | ) |  |  | 46 |  |  |  | 560 |  |  |  | 5 |
Total |  | $ | 49,945 |  |  | $ | 600 |  |  | $ | (3,218 | ) |  | $ | (1,160 | ) |  | $ | (43,086 | ) |  | $ | 3,081 |  |  | $ | 4,626 |  |  |  | 12 |
The aggregate amortization expense related to intangible assets was $0.3 million and $1.9 million for the three-month periods ended September 30, 2024 and 2023, respectively and $1.0 million and $5.8 million for the nine-month periods ended September 30, 2024 and 2023, respectively. During the three-month period ended September 30, 2024, the Company acquired $0.6 million new drug application (“NDA”) that has regulatory approval in the U.S. that it has recorded as developed technology. The Company also recorded a $1.2 million charge to intangible assets related to its Arthrosurface asset group during the three-month period ended September 30, 2024 due to the Company not expecting to recover the value of the intangible asset from the expected net proceeds related to the sale of the Arthrosurface business (see Note 15). As of September 30, 2024 scheduled amortization of intangible assets is as follows:
Remainder of 2024 |  | $ | 252 |
2025 |  |  | 347 |
2026 |  |  | 232 |
2027 |  |  | 182 |
2028 |  |  | 32 |
Thereafter |  |  | 386 |
Total |  | $ | 1,431 |

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