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Note 11 - Intangibles
3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

11. Intangibles

 

Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. No impairment charges were recorded for the three months ended March 31, 2024 and 2023.

 

Patent costs associated with the application and award of patents in the U.S. and various other countries are capitalized and amortized on a straight-line basis over the term of the patents as determined at the award date, which varies depending on the pendency period of the application, but generally approximates seventeen years.

 

Amortization of intangible assets acquired is calculated using the straight-line method over the estimated useful lives of the assets.

 

  

Estimated Life

  

March 31,

  

December 31,

 
  

(years)

  

2024

  

2023

 

Capitalized patent costs

 

~17

  $9,116  $9,231 
             

Intangible assets acquired:

            

Purchased intellectual property

  10   250   250 

Developed technology

  5   22,638   22,836 

Customer relationships

  10   10,818   10,913 

Gross intangible assets

      42,822   43,230 

Accumulated amortization

      (16,102)  (14,772)

Intangibles, net

     $26,720  $28,458 

 

The amortization of capitalized patent costs, purchased intellectual property, and developed technology is recorded in “cost of revenue” and the amortization of customer relationships is recorded in “operating expenses” in the Consolidated Statements of Operations.

 

Amortization expense on intangible assets was as follows:

 

  

Three Months Ended March 31,

 
  

2024

  

2023

 

Amortization expense

 $1,550  $1,493 

 

For intangible assets recorded at March 31, 2024, the estimated future aggregate amortization expense for the years ending December 31, 2024 through December 31, 2028 is as follows:

 

  

Amortization

 

As of March 31, 2024

 

Expense

 

Remaining in 2024

 $4,610 

2025

  6,130 

2026

  6,097 

2027

  1,538 

2028

  1,527