| Intangible Assets, Net |
Intangible Assets, Net Intangible assets consist of the following:
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June 30, 2023 |
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December 31, 2022 |
| (in thousands) |
Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
| Amortizable intangible assets: |
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| Patents |
$ |
4,322 |
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$ |
(711) |
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$ |
3,611 |
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$ |
3,792 |
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$ |
(621) |
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$ |
3,170 |
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| License agreements |
1,101 |
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(1,068) |
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34 |
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1,101 |
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(1,014) |
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87 |
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| Total amortizable intangible assets |
5,423 |
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(1,779) |
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3,645 |
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4,893 |
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(1,635) |
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3,258 |
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| Unamortized intangible assets: |
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| Trademarks |
403 |
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— |
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403 |
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391 |
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— |
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391 |
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| Total intangible assets |
$ |
5,827 |
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$ |
(1,779) |
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$ |
4,048 |
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$ |
5,284 |
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$ |
(1,635) |
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$ |
3,649 |
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Amortization expense is as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
| (in thousands) |
2023 |
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2022 |
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2023 |
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2022 |
| Amortization expense |
$ |
73 |
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$ |
63 |
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$ |
144 |
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$ |
132 |
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As of June 30, 2023, future amortization of patents and license agreements is as follows:
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| Year Ending December 31, |
(in thousands) |
| 2023 (excluding the six months ended June 30, 2023) |
$ |
121 |
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| 2024 |
208 |
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| 2025 |
208 |
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| 2026 |
207 |
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| 2027 |
203 |
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| Thereafter |
2,698 |
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| Total |
$ |
3,645 |
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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:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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| (in thousands) |
2023 |
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2022 |
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2023 |
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2022 |
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| Royalty fee expense |
$ |
868 |
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$ |
766 |
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$ |
1,698 |
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$ |
1,439 |
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