Axogen, Inc. Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2022

The Company’s intangible assets consisted of the following (in thousands):


	September 30, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable intangible assets:
Patents	$	3,245	$	(342)	$	2,903	$	2,469	$	(234)	$	2,235
License agreements	1,101		(943)		158		1,101		(852)		249
Total amortizable intangible assets	4,346		(1,285)		3,061		3,570		(1,086)		2,484

Unamortized intangible assets
Trademarks	387		—		387		375		—		375
Total intangible assets	$	4,733	$	(1,285)	$	3,448	$	3,945	$	(1,086)	$	2,859

Amortization expense consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Amortization expense	$	66	$	52	$	198	$	148

Expected future amortization of intangible assets as of September 30, 2022, is as follows (in thousands):


Year Ending December 31,	Expected Amortization Expense
2022 (excluding the nine months ended September 30, 2022)	$	68
2023	237
2024	169
2025	169
2026	167
Thereafter	2,251
Total amortized intangible assets	$	3,061

Royalty expense consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Royalty expense	$	848	$	687	$	2,287	$	2,037