Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.22.2.2
Intangible Assets, Net
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

Note 4 - Intangible Assets, Net

 

Intangible assets as of September 30, 2022 and December 31, 2021 consisted of the following (in thousands):

 Schedule of Intangible Assets, Net

                   
    September 30, 2022     December 31, 2021     Estimated Useful Life (in years)  
Trade names   $ 5,550     $ 5,550     15  
Proprietary intellectual property     4,260       4,260     5  
Customer relationships     1,180       1,180     1  
CLIA license     1,307       1,307     3  
Total intangible assets, gross     12,297       12,297        
Less: accumulated amortization     (3,408 )     (1,445 )      
Total intangible assets, net   $ 8,889     $ 10,852        

 

Amortization expense for acquired intangible assets was $545,000 and $445,000 during the three months ended September 30, 2022 and 2021, respectively. Amortization expense for acquired intangible assets was $2.0 million and $662,000 during the nine months ended September 30, 2022 and 2021, respectively. The estimated future amortization expense of acquired intangible assets as of September 30, 2022 is as follows (in thousands):

 

 Schedule of Estimated Future Amortization Expense of Acquired Intangible Assets 

         
Remaining periods in the year ended December 31, 2022   $ 414  
Year ended December 31, 2023     1,585  
Year ended December 31, 2024     1,222  
Year ended December 31, 2025     1,222  
Year ended December 31, 2026     890  
Thereafter     3,556  
 Total intangible assets, net   $ 8,889