Note 9 - Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Text Block]

9. INTANGIBLE ASSETS

In November 2019, the Company completed its business combination with Venus Ltd. and the business of Venus Ltd. became the primary business of the Company (the "Merger"), which included the addition of amortizable intangible assets, represented by the technology ($16,900) and the brand name ($1,200).

The carrying values of goodwill and indefinite-life intangible assets are subject to annual impairment assessment as of the last day of each fiscal year. Between annual assessments, impairment review may also be triggered by any significant events or changes in circumstances affecting the Company’s business. Based on the analysis of the intangible assets performed by management as of December 31, 2022 and 2021, no impairment was considered necessary.

Intangible assets net of accumulated amortization were as follows:

	*At December 31, 2022*
	*Gross Amount*		*Accumulated Amortization*			*Net Amount*
Customer relationships	$	1,400	$	(429	)	$	971
Brand		2,500		(1,066	)		1,434
Technology		16,900		(8,919	)		7,981
Supplier agreement		3,000		(1,467	)		1,533
Total intangible assets	$	23,800	$	(11,881	)	$	11,919

	*At December 31, 2021*
	*Gross Amount*		*Accumulated Amortization*			*Net Amount*
Customer relationships	$	1,400	$	(336	)	$	1,064
Brand		2,500		(803	)		1,697
Technology		16,900		(6,103	)		10,797
Supplier agreement		3,000		(1,165	)		1,835
Total intangible assets	$	23,800	$	(8,407	)	$	15,393

Amortization expense was $3,473 for the years ended December 31, 2022 and 2021.

Estimated amortization expense for the next five fiscal years and all years thereafter are as follows:

Years ending December 31,
2023	$	3,473
2024		3,473
2025		3,004
2026		657
2027		657
Thereafter		655
Total	$	11,919