Intangible Assets, Net (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] |
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Schedule of finite-lived intangible assets |
Intangible assets consist of the following:
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December 31, 2022 |
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December 31, 2021 |
(in thousands) |
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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 |
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$ |
3,792 |
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$ |
(621) |
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$ |
3,170 |
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$ |
2,469 |
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$ |
(234) |
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$ |
2,235 |
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License agreements |
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1,101 |
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(1,014) |
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87 |
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1,101 |
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(852) |
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249 |
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Total amortizable intangible assets |
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4,893 |
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(1,635) |
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3,258 |
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3,570 |
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(1,086) |
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2,484 |
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Unamortized intangible assets: |
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Trademarks |
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391 |
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— |
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391 |
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375 |
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— |
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375 |
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Total intangible assets |
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$ |
5,284 |
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$ |
(1,635) |
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$ |
3,649 |
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$ |
3,945 |
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$ |
(1,086) |
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$ |
2,859 |
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Schedule of indefinite-lived intangible assets |
Intangible assets consist of the following:
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December 31, 2022 |
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December 31, 2021 |
(in thousands) |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
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Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
Amortizable intangible assets: |
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Patents |
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$ |
3,792 |
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$ |
(621) |
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$ |
3,170 |
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$ |
2,469 |
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$ |
(234) |
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$ |
2,235 |
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License agreements |
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1,101 |
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(1,014) |
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87 |
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1,101 |
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(852) |
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249 |
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Total amortizable intangible assets |
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4,893 |
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(1,635) |
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3,258 |
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3,570 |
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(1,086) |
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2,484 |
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Unamortized intangible assets: |
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Trademarks |
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391 |
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— |
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391 |
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375 |
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— |
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375 |
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Total intangible assets |
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$ |
5,284 |
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$ |
(1,635) |
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$ |
3,649 |
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$ |
3,945 |
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$ |
(1,086) |
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$ |
2,859 |
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Schedule of amortization expense |
The amortization expense is as follows for the years ended:
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December 31, |
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2022 |
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2021 |
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2020 |
Amortization expense |
$ |
265 |
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202 |
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153 |
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Schedule of future amortization |
As of December 31, 2022, future amortization of patents and license agreements are as follows:
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Year Ending December 31, |
(in thousands) |
2023 |
$ |
250 |
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2024 |
181 |
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2025 |
181 |
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2026 |
180 |
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2027 |
176 |
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Thereafter |
2,290 |
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Total |
$ |
3,258 |
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Schedule of royalty expenses |
Royalty fees included in sales and marketing on the consolidated statement of operations are as follows for the years ended:
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December 31, |
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2022 |
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2021 |
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2020 |
Royalty fees |
$ |
3,103 |
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$ |
2,715 |
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$ |
2,289 |
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