| Intangible Assets, Net Intangible assets consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2023 |
|
December 31, 2022 |
| (in thousands) |
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
| Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
| Patents |
$ |
4,061 |
|
|
$ |
(665) |
|
|
$ |
3,396 |
|
|
$ |
3,792 |
|
|
$ |
(621) |
|
|
$ |
3,170 |
|
| License agreements |
1,101 |
|
|
(1,041) |
|
|
60 |
|
|
1,101 |
|
|
(1,014) |
|
|
87 |
|
| Total amortizable intangible assets |
5,162 |
|
|
(1,706) |
|
|
3,456 |
|
|
4,893 |
|
|
(1,635) |
|
|
3,258 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unamortized intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
| Trademarks |
402 |
|
|
— |
|
|
402 |
|
|
391 |
|
|
— |
|
|
391 |
|
| Total intangible assets |
$ |
5,564 |
|
|
$ |
(1,706) |
|
|
$ |
3,858 |
|
|
$ |
5,284 |
|
|
$ |
(1,635) |
|
|
$ |
3,649 |
|
Amortization expense is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
| (in thousands) |
2023 |
|
2022 |
| Amortization expense |
$ |
71 |
|
|
$ |
69 |
|
As of March 31, 2023, future amortization of patents and license agreements is as follows:
|
|
|
|
|
|
| Year Ending December 31, |
(in thousands) |
| 2023 (excluding the three months ended March 31, 2023) |
$ |
189 |
|
| 2024 |
195 |
|
| 2025 |
195 |
|
| 2026 |
194 |
|
| 2027 |
190 |
|
| Thereafter |
2,493 |
|
| Total |
$ |
3,456 |
|
License Agreements
The Company has various license agreements that require the payment of royalty fees.
Royalty fee expense included in sales and marketing expense is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
| (in thousands) |
2023 |
|
2022 |
|
|
|
|
| Royalty fee expense |
$ |
831 |
|
|
$ |
673 |
|
|
|
|
|
|