v3.25.2
Note 13 - Intangible Assets
 6 Months Ended
May 31, 2025
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

13.

INTANGIBLE ASSETS

 

The components of intangible assets were as follows (in thousands):

 

      

Balance at May 31, 2025

  

Balance at November 30, 2024

 
  

Estimated Useful Lives in Years

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

 

Patents

  10-17  $3,955  $(1,106) $2,849  $3,955  $(978) $2,977 

Trademarks

 

Indefinite

   360   —   360   360   —   360 

Customer List

  2   70   (70)  —   70   (70)  — 

Federal Firearms License

  3   6   —   6          

Total

     $4,391  $(1,176) $3,215  $4,385  $(1,048) $3,337 

 

The trademarks have an indefinite life and are assessed annually for impairment.  All other intangible assets are finite-lived.

 

Intangible assets amortization expenses are recorded within operating expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.  Total intangible assets amortization expense for the six months ended May 31, 2025 and May 31, 2024 were $0.1 million and $0.1 million, respectively. Total intangible assets amortization expense for the three months ended May 31, 2025 and 2024 were $0.1 million and less than $0.1 million, respectively. 

 

Estimated future amortization expense related to intangible assets as of May 31, 2025 are as follows (in thousands):

 

Fiscal Year Ending November 30,

 

2025 (remaining six months)

 $129 

2026

  259 

2027

  259 

2028

  258 

2029

  257 

Thereafter

  1,693 

Total

 $2,855