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Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

11. Intangible Assets

 

The following provides a breakdown of identifiable intangible assets as of September 30, 2025 and December 31, 2024 ($ in thousands):

 

   September 30,   December 31, 
   2025   2024 
Product/Technology Related          
Identifiable intangible assets, gross  $325   $325 
Accumulated amortization   (265)   (191)
Product/technology related identifiable intangible assets, net   60    134 
Marketing Related          
Customer related intangible asset, gross   17    17 
Tradename related intangible asset, gross   113    113 
Trademark related intangibles   600    600 
Accumulated amortization   (78)   (57)
Marketing related identifiable intangible assets, net   652    673 
Total identifiable intangible assets, net  $712   $807 

 

In connection with the May 15, 2024 Silly George acquisition, the Company identified intangible assets of $600 thousand representing trademark related intangibles with indefinite lives.

 

Intangible assets with indefinite lives are tested for impairment within one year of the acquisition date or annually as of December 31, and whenever indicators of impairment exist.

 

The intangible assets with definite lives are being amortized on a straight-line basis over their weighted average estimated useful life of 1.4 years and amortization expense amounted to $95 and $88 thousand for the nine months ended September 30, 2025 and 2024, respectively.

 

As of September 30, 2025, the estimated annual amortization expense for each of the next five fiscal years is as follows ($ in thousands):

 

      
2025 (remainder of year)  $30 
2026   64 
2027   13 
2028   2 
2029   2 
Thereafter   1 
Subtotal   112 
Indefinite lived intangible assets (subject to impairment analysis)   600 
Total  $712