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Note 7 - Acquired Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. Acquired Intangible Assets, Net Intangible assets consist of the following:
|  |  |  |  |  | Year Ended December 31, 2024 |
|  | Gross Cost |  |  | Plus: Additions |  |  | Less: Accumulated Currency Translation Adjustment |  |  | Less: Accumulated Amortization |  |  | Net Book Value |  |  | Weighted Average Useful Life (in Years) |
Developed technology |  | $ | 11,480 |  |  | $ | 600 |  |  | $ | (1,608 | ) |  | $ | (9,667 | ) |  | $ | 805 |  |  |  | 14 |
IPR&D |  |  | 2,656 |  |  |  | - |  |  |  | (1,006 | ) |  |  | - |  |  |  | 1,650 |  |  | Indefinite |
Distributor relationships |  |  | 4,700 |  |  |  | - |  |  |  | (415 | ) |  |  | (4,285 | ) |  |  | - |  |  |  | 5 |
Patents |  |  | 1,000 |  |  |  | - |  |  |  | (189 | ) |  |  | (776 | ) |  |  | 35 |  |  |  | 16 |
Total |  | $ | 19,836 |  |  | $ | 600 |  |  | $ | (3,218 | ) |  | $ | (14,728 | ) |  | $ | 2,490 |  |  |  | 11 |
|  |  |  |  |  | Year Ended December 31, 2023 |
|  | Gross Cost |  |  | Less: Accumulated Currency Translation Adjustment |  |  | Less: Accumulated Amortization |  |  | Net Book Value |  |  | Weighted Average Useful Life |
Developed technology |  | $ | 11,480 |  |  | $ | (1,608 | ) |  | $ | (9,029 | ) |  | $ | 843 |  |  |  | 15 |
IPR&D |  |  | 2,656 |  |  |  | (1,006 | ) |  |  | - |  |  |  | 1,650 |  |  | Indefinite |
Distributor relationships |  |  | 4,700 |  |  |  | (415 | ) |  |  | (4,285 | ) |  |  | - |  |  |  | 5 |
Patents |  |  | 1,000 |  |  |  | (189 | ) |  |  | (728 | ) |  |  | 83 |  |  |  | 16 |
Total |  | $ | 19,836 |  |  | $ | (3,218 | ) |  | $ | (14,042 | ) |  | $ | 2,576 |  |  |  | 11 |
Total amortization expense with respect to the definite lived acquired intangible assets was $0.7 million, $0.6 million and $0.6 million for each of the years ended December 31, 2024, 2023 and 2022, respectively. The Company performed an assessment of its definite lived acquired intangible assets during the quarter ended December 31, 2024. The Company estimated the fair value of its definite lived acquired intangible assets using an income approach method of valuation, including a combination of the distributor method for the customer relationships intangible asset and the relief of royalty method for each of the developed technology and tradename intangible assets. These valuation approaches incorporate significant estimates and assumptions related to the forecasted results including revenues, expenses, expected economic life of the asset, royalty rates, after-tax royalty savings expected from ownership of the developed technology and tradename assets, contributory asset charges and discount rates to estimate future cash flows. While assumptions utilized are subject to a high degree of judgment and complexity, the Company made its best estimate of future cash flows under a high degree of economic uncertainty that existed as of December 31, 2024. In developing its assumptions, the Company also considered observed trends of its industry participants. The Company performed its annual assessment of the IPR&D intangible asset as of November 30, 2024. The Company estimated the fair value of the IPR&D intangible assets using the income approach which is based on the Multi-Period Excess Earnings Method (“MPEEM”). MPEEM measures economic benefit indirectly by calculating the income attributable to an asset after appropriate returns are paid to complementary assets used in conjunction with the subject asset to produce the earnings associated with the subject asset, commonly referred to as contributory asset charges. This approach incorporates significant estimates and assumptions related to the forecasted results including revenues, expenses, expected economic life of the asset, contributory asset charges and discount rates to estimate future cash flows. While assumptions utilized are subject to a high degree of judgment and complexity, the Company made its best estimate of future cash flows under a high degree of economic uncertainty that existed as of November 30, 2024. In developing its assumptions, the Company also considered observed trends of its industry participants. No impairment existed as the estimated fair value of the remaining IPR&D intangible asset was greater than its carrying value.

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