Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

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Intangible Assets, Net
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets consist of the following:
March 31, 2024 December 31, 2023
(in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount
Amortizable intangible assets:
Patents $ 5,204  $ (881) $ 4,323  $ 4,905  $ (820) $ 4,085 
License agreements 1,101  (1,089) 12  1,101  (1,087) 14 
Total amortizable intangible assets 6,305  (1,969) 4,335  6,006  (1,907) 4,099 
Unamortized intangible assets:
Trademarks 433  —  433  432  —  432 
Total intangible assets $ 6,737  $ (1,969) $ 4,768  $ 6,438  $ (1,907) $ 4,531 
Amortization expense is as follows:
Three Months Ended March 31,
(in thousands) 2024 2023
Amortization expense $ 62  $ 71 
As of March 31, 2024, future amortization of patents and license agreements is as follows:
Year Ending December 31, (in thousands)
2024 (excluding the three months ended March 31, 2024) $ 189 
2025 252 
2026 250 
2027 247 
2028 247 
Thereafter 3,150 
Total $ 4,335 
License Agreements
The Company had 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) 2024 2023
Royalty fee expense (1)
$ —  $ 831 
(1) Royalty fees are no longer being paid due to the expiration of the patents in 2023.