Note 5 - Intangible Assets

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 5. Intangible Assets

The following table summarizes the Company’s intangible assets as of  March 31, 2025 (in thousands):

	Estimated
	Useful Life		Gross Carrying		Accumulated			Net Carrying
	( Years)		Amount		Amortization			Value
Developed technology ‐ VIVO		15	$	8,244	$	(1,237	)	$	7,007
Developed technology ‐ LockeT		14		18,770		(3,017	)		15,753
Customer relationships		6		62		(23	)		39
Trademarks/trade names ‐ VIVO		9		876		(219	)		657
Trademarks/trade names ‐ LockeT		9		409		(102	)		307
			$	28,361	$	(4,598	)	$	23,763

The following table summarizes the Company’s intangible assets as of  December 31, 2024 (in thousands):

	Estimated
	Useful Life		Gross Carrying		Accumulated			Net Carrying
	( Years)		Amount		Amortization			Value
Developed technology ‐ VIVO		15	$	8,244	$	(1,099	)	$	7,145
Developed technology ‐ LockeT		14		18,770		(2,681	)		16,089
Customer relationships		6		62		(21	)		41
Trademarks/trade names ‐ VIVO		9		876		(195	)		681
Trademarks/trade names ‐ LockeT		9		409		(91	)		318
			$	28,361	$	(4,087	)	$	24,274

The estimated future amortization expense for the next five years and thereafter is as follows (in thousands):

	Future
	Amortization
Years ending December 31,	Expense
Remainder of 2025	$	1,532
2026		2,043
2027		2,043
2028		2,043
2029		2,033
Thereafter		14,069
Total	$	23,763

The Company uses the straight-line method to determine amortization expense for its definite lived intangible assets. Amortization expense, included within selling, general and administrative expenses in the condensed consolidated statement of operations, for the Company's intangible assets was $0.5 million and $0.5 million for the three months ended March 31, 2025 and 2024, respectively.