Quarterly report [Sections 13 or 15(d)]

Intangible Assets

v3.25.1
Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

5. Intangible Assets

 

The following table summarizes information relating to the Company’s definite-lived intangible assets:

 

Schedule of Definite Lived Intangible Assets

    Weighted Average     March 31, 2025     December 31, 2024  
    Amortization Period     Gross Carrying     Accumulated     Net Carrying     Gross Carrying     Accumulated     Net Carrying  
    (Years)     Amount     Amortization     Amount     Amount     Amortization     Amount  
Other Intangibles (amount in thousands)                                          
Patents     5.9     $ 761     $ (441 )   $ 320     $ 753     $ (435 )   $ 318  
Software     3       666       (600 )     66       666       (591 )     75  
Total           $ 1,427     $ (1,041 )   $ 386     $ 1,419     $ (1,026 )   $ 393  

 

The intangible assets noted above are amortized on a straight-line basis over their useful lives.

 

The following table summarizes the expected amortization over the next five years for our definite-lived intangible assets:

 

Schedule of Finite Lived Intangible Assets, Future Amortization Expense

    Amount  
Year   (In thousands)  
       
2025 (Remaining)   $     40  
2026     49  
2027     30  
2028     21  
2029     18  

 

Amortization expenses relating to the definite-lived intangible assets as discussed above were $15,000 and $25,000 for the three months ended March 31, 2025, and 2024, respectively.