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Patents and Other Intangible Assets

3 Months Ended

Mar. 31, 2025

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:

​

​	​	​	​	​	​	​	​
​	​	March 31,		​	December 31,		​
(in thousands)		2025			2024
Patents	​	​	​	​	​	​	​
Patents pending	​	$	360	​	$	346	​
Issued patents	​		1,056	​		1,034	​
​	​		1,416	​		1,380	​
Trademarks	​		​	​		​	​
Registered trademarks	​		86	​		86	​
​	​		86	​		86	​
Other	​		8	​		8	​
​	​		1,510	​		1,474	​
Accumulated amortization	​		(686)	​		(644)	​
​	​	$	824	​	$	830	​

​

Amortization expense for the three months ended March 31, 2025 and 2024 was $42 thousand and $38 thousand, respectively.

​

Future amortization expense associated with issued patents and registered trademarks as of March 31, 2025 is as follows:

​

​	​	​	​
(in thousands)	​	​	​
2025 (remaining)		$	120
2026	​		129
2027	​		106
2028	​		69
2029	​		30
Thereafter	​		2
​	​	$	456

​

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 months ended March 31, 2025 and 2024, the Company assessed its patent and trademark assets. 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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