| Intangible Assets, Net |
Intangible Assets, Net Intangible assets consist of the following:
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September 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 |
$ |
4,629 |
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$ |
(763) |
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$ |
3,866 |
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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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(1,086) |
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15 |
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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 |
5,730 |
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(1,849) |
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3,881 |
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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 |
407 |
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— |
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407 |
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391 |
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— |
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391 |
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| Total intangible assets |
$ |
6,138 |
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$ |
(1,849) |
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$ |
4,288 |
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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 September 30, |
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Nine Months Ended September 30, |
| (in thousands) |
2023 |
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2022 |
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2023 |
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2022 |
| Amortization expense |
$ |
70 |
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$ |
66 |
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$ |
214 |
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$ |
198 |
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As of September 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 nine months ended September 30, 2023) |
$ |
56 |
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| 2024 |
223 |
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| 2025 |
223 |
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| 2026 |
221 |
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| 2027 |
218 |
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| Thereafter |
2,940 |
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| Total |
$ |
3,881 |
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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 September 30, |
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Nine Months Ended September 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 |
$ |
930 |
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$ |
848 |
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$ |
2,628 |
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$ |
2,287 |
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