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Patents and Other Intangible Assets
9 Months Ended
Sep. 30, 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:

September 30, 

December 31, 

(in thousands)

    

2025

    

2024

    

Patents

Patents pending

$

378

$

346

Issued patents

 

1,076

 

1,034

 

1,454

 

1,380

Trademarks

 

 

Registered trademarks

 

86

 

86

 

86

 

86

Other

 

8

 

8

 

1,548

 

1,474

Accumulated amortization

 

(770)

 

(644)

$

778

$

830

Amortization expense for three and nine months ended September 30, 2025 was $41 thousand and $126 thousand, respectively.

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

Future amortization expense associated with issued patents and registered trademarks as of September 30, 2025 is as follows:

(in thousands)

2025 (remaining)

    

$

36

2026

 

134

2027

 

110

2028

 

74

2029

 

34

Thereafter

 

4

$

392

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

During the three and nine months ended September 30, 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.