Quarterly report [Sections 13 or 15(d)]

Intangible Assets, Net

v3.25.1
Intangible Assets, Net
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets consist of the following:
March 31, 2025 December 31, 2024
(in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount
Amortizable intangible assets:
Patents $ 6,431  $ (1,140) $ 5,291  $ 6,090  $ (1,073) $ 5,017 
Unamortized intangible assets:
Trademarks 590  —  590  562  —  562 
Total intangible assets $ 7,021  $ (1,140) $ 5,881  $ 6,652  $ (1,073) $ 5,579 
Amortization expense is as follows:
Three Months Ended March 31,
(in thousands) 2025 2024
Amortization expense $ 67  $ 62 
As of March 31, 2025, future amortization of patents is as follows:
Year Ending December 31, (in thousands)
2025 (excluding the three months ended March 31, 2025) $ 226 
2026 309 
2027 309 
2028 309 
2029 309 
Thereafter 3,829 
Total $ 5,291