Quarterly report [Sections 13 or 15(d)]

Intangible Assets

v3.25.1
Intangible Assets
3 Months Ended
Mar. 31, 2025
Intangible Assets, net  
Intangible Assets, net

7. Intangible Assets, net

The Company’s finite-lived intangible assets consist of intangible assets acquired by Journey. The table below provides a summary of the Journey intangible assets for the periods presented:

Estimated Useful

March 31, 

December 31,

($ in thousands)

    

Lives (Years)

    

2025

    

2024

Intangible assets – product licenses

3 to 15

$

52,925

$

52,925

Accumulated amortization

 

  

 

(18,984)

 

(17,919)

Accumulated Impairment loss

(3,143)

(3,143)

Net intangible assets

 

  

$

30,798

$

31,863

For the three months ended March 31, 2025 and 2024, Journey’s amortization expense related to its product licenses was $1.1 million and $0.8 million, respectively.

The future amortization of these intangible assets is as follows:

Total

For the year ended December 31, ($ in thousands)

    

Amortization

2025

$

3,192

2026

 

3,471

2027

2,775

2028

2,595

2029

2,595

Thereafter

12,228

Sub-total

$

26,856

Asset not yet placed in service

3,942

Total

$

30,798