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Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill represents the cost of an acquisition in excess of the fair values assigned to identifiable net assets acquired. The carrying value of Goodwill is as follows:

Carrying Amount
Beginning balance as of January 1, 2025$340,668,927 
Acquisitions (including measurement period adjustments) (see Note 16)
16,245,030 
Balance as of September 30, 2025$356,913,957 
Gross carrying value at September 30, 2025$360,578,661 
Accumulated impairment charges(3,664,704)
Net carrying value at September 30, 2025$356,913,957 

In addition to annual impairment testing, which is performed as of the first day of the Company's fourth quarter, the Company continuously monitors for events and circumstances that could negatively impact the key assumptions in determining fair value of goodwill or other intangible assets, thus resulting in the need for interim impairment testing, including long-term revenue growth projections, profitability, discount rates, recent market valuations from transactions by comparable companies, volatility in the Company's market capitalization, and general industry, market and macroeconomic conditions. No such events or circumstances that might negatively impact the key assumptions were observed in the third quarter of 2025 and, as such, nothing indicated the need for interim impairment testing.

The Company also acquired In-Process Research & Development ("In-Process R & D") as part of the acquisitions of Vaporsens, Inc. ("Vaporsens") and Argil Inc. ("Argil"), each of which has been previously disclosed.
The patents and intangible assets and related change in carrying values are set forth in the tables below.

As of September 30, 2025:
Other Intangible AssetsGrossAccumulated AmortizationNetAssumed Useful Life
Gentex Patents$39,569,675 $(28,567,996)$11,001,679 Various
Other Intangible Assets
HomeLink® Trade Names and Trademarks
$52,000,000 $— $52,000,000 Indefinite
HomeLink® Technology
180,000,000 (180,000,000)— 12 years
Existing Customer Platforms43,000,000 (43,000,000)— 10 years
Exclusive Licensing Agreement96,000,000 — 96,000,000 Indefinite
BioCenturion LLC ("BioCenturion") Trade Names and Trademarks
640,000 (58,667)581,333 10 years
BioCenturion Technology2,300,000 (175,694)2,124,306 12 years
eSight Technology12,000,000 (1,916,667)10,083,333 12 years
eSight Trade Names and Trademarks870,000 (138,958)731,042 12 years
BioConnect Trade Names and Trademarks873,299 — 873,299 12 years
BioConnect Developed Technology6,549,741 — 6,549,741 12 years
BioConnect Customer Relationships1,746,598 — 1,746,598 10 years
Vaporsens In-Process R&D5,800,000 — 5,800,000 Indefinite
Argil In-Process R&D6,278,132 — 6,278,132 Indefinite
Air-Craftglass Technology1,507,778 (94,236)1,413,542 12 years
Guardian Trade Names1,300,000 (135,417)1,164,583 12 years
Guardian Technology6,800,000 (708,333)6,091,667 12 years
Total Other Intangible Assets$417,665,548 $(226,227,972)$191,437,576 
Total Patents & Other Intangible Assets$457,235,223 $(254,795,968)$202,439,255 
As of December 31, 2024:
Other Intangible Assets
Gross
Accumulated Amortization
Net
Assumed Useful Life
Gentex Patents
$39,266,409 $(28,137,761)$11,128,648 Various
Other Intangible Assets
HomeLink® Trade Names and Trademarks
$52,000,000 $— $52,000,000 Indefinite
HomeLink® Technology
180,000,000 (168,750,000)11,250,000 12 years
Existing Customer Platforms43,000,000 (43,000,000)— 10 years
Exclusive Licensing Agreement
96,000,000 — 96,000,000 Indefinite
BioCenturion Trade Names and Trademarks640,000 — 640,000 10 years
BioCenturion Technology2,300,000 — 2,300,000 12 years
eSight Technology12,000,000 (1,166,667)10,833,333 12 years
eSight Trade Names and Trademarks870,000 (84,583)785,417 12 years
Vaporsens In-Process R&D5,800,000 — 5,800,000 Indefinite
Argil In-Process R&D6,278,132 — 6,278,132 Indefinite
Air-Craftglass In-Process R&D1,507,778 — 1,507,778 Indefinite
Guardian Trade Names1,300,000 (54,167)1,245,833 12 years
Guardian In-Process R&D6,800,000 (283,333)6,516,667 12 years
Total Other Intangible Assets$408,495,910 $(213,338,750)$195,157,160 
Total Patents & Other Intangible Assets$447,762,319 $(241,476,511)$206,285,808 

Amortization expense of patents and intangible assets was approximately $4.6 million and $13.9 million during the three and nine months ended September 30, 2025, respectively, compared to approximately $4.5 million and $13.4 million for the three and nine months ended September 30, 2024, respectively.

Excluding the impact of any future acquisitions, the Company estimates amortization expense for the remainder of the year ending December 31, 2025 to be approximately $1.3 million, and for each of the years ending December 31, 2026, December 31, 2027, December 31, 2028, and December 31, 2029 to be approximately $4 million.