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Patents and Other Intangible Assets

9 Months Ended

Sep. 30, 2024

Patents and Other Intangible Assets

Patents and Other Intangible Assets

Note 4 – Patents and Other Intangible Assets

Patents and other intangible assets are summarized as follows:

​

​	​	​	​	​	​	​
​	​	September 30,		​	December 31,
(in thousands)		2024			2023
Patents	​	​	​	​	​	​
Patents pending	​	$	351	​	$	477
Issued patents	​		1,011	​		810
​	​		1,362	​		1,287
Trademarks	​		​	​		​
Trademarks pending	​		—	​		4
Registered trademarks	​		86	​		86
​	​		86	​		90
Other	​		8	​		8
​	​		1,456	​		1,385
Accumulated amortization	​		(601)	​		(549)
​	​	$	855	​	$	836

​

Amortization expense for the three and nine months ended September 30, 2024 was $43 thousand and $123 thousand, respectively. Amortization expense for the three and nine months ended September 30, 2023 was $32 thousand and $109 thousand, respectively.

​

Future amortization expense associated with issued patents and registered trademarks as of September 30, 2024 is as follows:

​

​	​	​	​
(in thousands)	​	​	​
2024 (remaining 3 months)		$	41
2025	​		151
2026	​		121
2027	​		98
2028	​		62
Thereafter	​		23
​	​	$	496

​

The amortization life for patents ranges between three to five years, with trademark lives set at ten years. The Company does not amortize patents or trademarks classified as pending.

​

During the three and nine months ended September 30, 2024 and 2023, the Company assessed its patent and trademark assets for impairment. The Company incurred $17 thousand impairment costs for the three and nine months ended September 30, 2024. The Company did not incur impairment costs for the three months ended September 30, 2023, and incurred $14 thousand impairment costs for the nine months ended September 30, 2023. The Company also evaluated its strategic approach to the pursuit and protection of its intellectual property. It is the intent of the Company to continue to pursue intellectual property protection.

​

If the Company identifies certain assets where the intellectual property does not directly align with its core technology, the Company will impair the intangible asset and write-off the asset as an expense.

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481283/985-20-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/985-20/tableOfContent

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