Intangible Assets, Net

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible Assets, Net

The Company’s intangible assets consisted of the following (in thousands):

	September 30, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable intangible assets:
Patents	$	3,245	$	(342)	$	2,903	$	2,469	$	(234)	$	2,235
License agreements	1,101		(943)		158		1,101		(852)		249
Total amortizable intangible assets	4,346		(1,285)		3,061		3,570		(1,086)		2,484
Unamortized intangible assets
Trademarks	387		—		387		375		—		375
Total intangible assets	$	4,733	$	(1,285)	$	3,448	$	3,945	$	(1,086)	$	2,859

Amortization expense consisted of the following (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Amortization expense	$	66	$	52	$	198	$	148

Expected future amortization of intangible assets as of September 30, 2022, is as follows (in thousands):

Year Ending December 31,	Expected Amortization Expense
2022 (excluding the nine months ended September 30, 2022)	$	68
2023	237
2024	169
2025	169
2026	167
Thereafter	2,251
Total amortized intangible assets	$	3,061

License Agreements

The Company has License Agreements with the University of Florida Research Foundation and the University of Texas at Austin in which certain royalty payments are paid quarterly.

Royalty expense consisted of the following (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Royalty expense	$	848	$	687	$	2,287	$	2,037

Royalty fees are included in sales and marketing expense on the accompanying condensed consolidated statements of operations.