Note 5 - Intangible Assets

9 Months Ended

Sep. 30, 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  September 30, 2025 (in thousands):

	Estimated
	Useful Life		Gross Carrying		Accumulated			Net Carrying
	( Years)		Amount		Amortization			Value
Developed technology ‐ VIVO		15	$	8,244	$	(1,511	)	$	6,733
Developed technology ‐ LockeT		14		18,770		(3,687	)		15,083
Customer relationships		6		62		(28	)		34
Trademarks/trade names ‐ VIVO		9		876		(268	)		608
Trademarks/trade names ‐ LockeT		9		409		(125	)		284
			$	28,361	$	(5,619	)	$	22,742

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	$	511
2026		2,043
2027		2,043
2028		2,043
2029		2,033
Thereafter		14,069
Total	$	22,742

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 statements of operations, for the Company's intangible assets was $0.5 million for the three months ended  September 30, 2025 and 2024 and $1.5 million for the nine months ended September 30, 2025 and 2024.