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Note 12 - Intangibles
6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

12. Intangibles

 

Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. No impairment charges were recorded for the six months ended  June 30, 2023 and 2022.

 

Patent costs associated with the application and award of patents in the U.S. and various other countries are capitalized and amortized on a straight-line basis over the term of the patents as determined at the award date, which varies depending on the pendency period of the application, but generally approximates seventeen years.

 

Amortization of intangible assets acquired is calculated using the straight-line method over the estimated useful lives of the assets.

 

  

Estimated Life

  

June 30,

  

December 31,

 
  

(years)

  

2023

  

2022

 

Capitalized patent costs

  ~17  $10,758  $10,646 
             

Intangible assets acquired:

            

Purchased intellectual property

  10   250   250 

Developed technology

  5   22,617   21,661 

Customer relationships

  10   10,808   10,351 

Gross intangible assets

      44,433   42,908 

Accumulated amortization

      (13,012)  (9,738)

Intangibles, net

     $31,421  $33,170 

 

The amortization of capitalized patent costs, purchased intellectual property, and developed technology is recorded in “cost of revenue” and the amortization of customer relationships is recorded in “operating expenses” in the Consolidated Statements of Operations.

 

Amortization expense on intangible assets was as follows:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2023

  

2022

  

2023

  

2022

 

Amortization expense

 $1,536  $1,583  $3,029  $3,260 

 

For intangible assets recorded at June 30, 2023, the estimated future aggregate amortization expense for the years ending December 31, 2023 through December 31, 2027 is as follows:

 

  

Amortization

 

As of June 30, 2023

 

Expense

 

Remaining in 2023

 $3,089 

2024

  6,174 

2025

  6,152 

2026

  6,119 

2027

  1,561